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Goods and Service Tax (GST)

Gujarat's GST department finds tax evasion of Rs 3.53 crore after searches at seven firms

Gujarat's GST department finds tax evasion of Rs 3.53 crore after searches at seven firms

Sat, Nov 23, 2024

The Gujarat State GST department conducted searches on seven commercial entities and detected tax evasion of Rs 3.53 crore, an official said. These firms were concealing actual revenues, selling without invoice and underreporting tax liability, he added.

GST Council to meet in Jaisalmer on December 21; may decide on insurance levy, rate rationalisation

GST Council to meet in Jaisalmer on December 21; may decide on insurance levy, rate rationalisation

Mon, Nov 18, 2024

The GST Council will meet on December 21 in Jaisalmer, in which the much-awaited decision on exemption or lower GST rate on health and life insurance is likely to be taken.

Nazara Tech's two subsidiaries get Rs 1120 crore GST demand notice

Nazara Tech's two subsidiaries get Rs 1120 crore GST demand notice

Wed, Jul 17, 2024

Openplay Technologies has received a show cause notice from the Director General of GST Intelligence, Kolkata for a proposed liability of Rs 845.72 crore, while in case of another subsidiary -- Halaplay Technologies -- the liability amounts to Rs 274.21 crore.

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GST Council likely to deliberate on online gaming tax, Par panel recommendation on fertiliser

GST Council likely to deliberate on online gaming tax, Par panel recommendation on fertiliser

Sat, Jun 22, 2024

The 53rd meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising her state counterparts, is also likely to discuss the progress of the Group of Ministers (GoM) on finalising the report on Goods and Service Tax (GST) rate rationalisation and amendments to GST laws based on previous decisions of the council.

Dabur receives GST demand notice of Rs 320.60 crore

Dabur receives GST demand notice of Rs 320.60 crore

Tue, Oct 17, 2023

The company will challenge the same based on strong merits by filing its reply before the relevant authorities, Dabur India said in a regulatory filing.

Govt should propose to GST Council to cut tax rates on fertilisers from current 5%: Parliamentary panel

Govt should propose to GST Council to cut tax rates on fertilisers from current 5%: Parliamentary panel

Wed, Aug 09, 2023

The panel noted that fertilisers are levied GST at 5 per cent and its raw materials, like sulphuric acid and ammonia, are levied a higher GST at 18 per cent on the recommendations of the GST council.

Automated IGST refunds on pan masala, tobacco, similar items to be restricted from October 1

Automated IGST refunds on pan masala, tobacco, similar items to be restricted from October 1

Tue, Aug 01, 2023

The items on which automated IGST refund restriction has been imposed include pan masala, unmanufactured tobacco, hookah, gutkha, smoking mixtures for pipes and cigarettes and other items, including mentha oil.

GST evasion of Rs 14,302 crore detected in April-May; 28 persons arrested

GST evasion of Rs 14,302 crore detected in April-May; 28 persons arrested

Mon, Jul 31, 2023

As many as 2,784 cases of GST evasion involving Rs 14,302 crore were detected in the first two months of the current fiscal, while Rs 5,716 crore was recovered during the period, Parliament was informed on Monday.

60,000 companies under scrutiny, CBIC expects to catch fake input tax credit worth Rs 50,000: Fin Min Sources

60,000 companies under scrutiny, CBIC expects to catch fake input tax credit worth Rs 50,000: Fin Min Sources

Fri, Jun 30, 2023

A few days ahead of GST Council meeting, sources from the Ministry of Finance revealed that Central Board of Excise and Customs (CBIC) has kept around 60,000 companies under scrutiny and is also expecting that fake input tax credit (ITC) worth of Rs 50000 crore will be detected.

6 years of GST: Rs 1.5 lakh crore monthly tax revenues become 'new normal', focus on curbing tax evasion

6 years of GST: Rs 1.5 lakh crore monthly tax revenues become 'new normal', focus on curbing tax evasion

Thu, Jun 29, 2023

Six years after the rollout of the biggest indirect tax reform in India, Goods and Services Tax (GST) revenue of Rs 1.5 lakh crore every month has become a new normal and tax officers are focusing on dealing with fraudsters who are adopting newer modus operandi to game the system, causing loss to the exchequer.

GST Council to discuss measures to curb evasion, GoM report on online gaming in July 11 meet

GST Council to discuss measures to curb evasion, GoM report on online gaming in July 11 meet

Fri, Jun 16, 2023

The GST Council on July 11 will discuss some more measures to tighten the noose on fake registration and fraudulent generation of input tax credit (ITC) as it looks to check tax evasion, a top official said on Friday.

Is it mandatory to pay GST at restaurants? Read on to find out

Is it mandatory to pay GST at restaurants? Read on to find out

Tue, May 16, 2023

GST composition Scheme: This pricing is determined by the restaurant's location. For example, restaurants located within hotels where the room fee exceeds the specified amount would be subject to a higher GST rate.

Centre, state tax officers launch special drive to identify fake GST registration, curb evasion

Centre, state tax officers launch special drive to identify fake GST registration, curb evasion

Tue, May 16, 2023

The government has been using robust data analytics and artificial intelligence to identify and track risky taxpayers; sharing data with other law enforcement agencies to detect tax evasion.

Budget 2023: International Road Federation seeks removal of GST on helmets

Budget 2023: International Road Federation seeks removal of GST on helmets

Thu, Jan 19, 2023

India accounts for about 11 per cent of the road accident deaths worldwide and the two-wheeler riders, being most vulnerable, constitute almost 31.4 per cent of road accidental deaths primarily due to head injuries.

India’s largest lender SBI’s chairman says ‘banking system better placed to sustain loan growth’ – Details!

India’s largest lender SBI’s chairman says ‘banking system better placed to sustain loan growth’ – Details!

Wed, Nov 23, 2022

Speaking at an economics conclave organised by the country's largest lender, Khara said learnings from the last cycle of high loan growth which ultimately led to a huge spurt in sour loans have been internalised by the banking system.

Over Rs 1.25 lakh crore sale for retail traders this festive season

Over Rs 1.25 lakh crore sale for retail traders this festive season

Mon, Oct 24, 2022

On the call of CAIT this year, the traders celebrated the festival as "Apni Diwali - Bhartiya Diwali" with all emphasis on selling exclusively Indian products, which has led to robust sales for small scale industries, local businesses,craftsmen, artistes, artisans etc. did a splendid business for the products made by them.

Non-alcoholic malt drinks may attract 28% GST, 12% cess

Non-alcoholic malt drinks may attract 28% GST, 12% cess

Wed, Sep 21, 2022

Non-alcoholic malt drinks could soon attract GST on par with carbonated drinks. According to Zee Business analyst Ashish Chaturvedi, Karnataka GST Authority of Advance Ruling has said that GST on malt-based drinks should be increased to 40 per cent.

No GST on room rents of 'sarais' managed by religious or charitable trusts: CBIC

No GST on room rents of 'sarais' managed by religious or charitable trusts: CBIC

Fri, Aug 05, 2022

As per the recommendation of 47th GST Council, hotel rooms having room rents up to Rs 1,000 per day were brought under the GST rate slab of 12 per cent from the earlier exempt category.

Monsoon Session faces washout with Opposition not ready to relent on GST, inflation

Monsoon Session faces washout with Opposition not ready to relent on GST, inflation

Sun, Jul 24, 2022

The Congress has put the onus on the government, with the party`s Rajya Sabha MP Jairam Ramesh saying, "The Modi Sarkar`s blanket refusal to hold debate on the urgent issues of price rise and GST on food items is a problem."

PIB Fact Check: Is government charging 18% GST on crematorium services?

PIB Fact Check: Is government charging 18% GST on crematorium services?

Thu, Jul 21, 2022

PIB Fact Check: A report claiming that the government is levying 18 percent GST on crematorium services is being widely circulated on social media platforms.

GST on Casino, Online Gaming, Horse Racing: Will tax be hiked from 18% to 28%? GoM meeting today - What we know so far

GST on Casino, Online Gaming, Horse Racing: Will tax be hiked from 18% to 28%? GoM meeting today - What we know so far

Tue, Jul 12, 2022

GST on Casino, Online Gaming: A meeting of the Group of Ministres (GoM) will be held on Tuesday to decide the tax bracket of Goods and Services Tax (GST) for Casino, Online Gaming, and Horse Racing. In this meeting, the GoM will consider increasing the GST by 28%. Check Zee business Ambrish Pandey's report.

Cos with over Rs 5 cr annual turnover will soon have to generate GST e-invoices for B2B transactions: Official

Cos with over Rs 5 cr annual turnover will soon have to generate GST e-invoices for B2B transactions: Official

Thu, Jul 07, 2022

From April 1 last year, companies with turnover over Rs 50 crore were generating B2B e-invoices, and the threshold was brought down to Rs 20 crore from April 1, 2022.

June GST collection at Rs 1.44 lakh crore; 2nd highest since implementation

June GST collection at Rs 1.44 lakh crore; 2nd highest since implementation

Fri, Jul 01, 2022

During the month, revenues from import of goods was 55% higher and the revenues from domestic transaction (including import of services) are 56% higher than the revenues from these sources during the same month last year.

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