Page 2 Gst: Latest News and Updates, Top Stories, Videos, Photos About Gst

Company Secretaries Should Focus on Statutory Compliance: Vice President

Vice President Jagdeep Dhankhar said that company secretaries should detach themselves from management objectives and focus on statutory compliance....

GST Conundrum: The Gangajal Tax Debate and Other Baffling Classifications

A recent controversy surrounding the taxation of 'gangajal' under the Goods and Services Tax (GST) has thrown a spotlight on the complex classification structure within the GST regime. While political parties and the Finance Ministry engage in a heated debate over ...

GST Authority Issues Show Cause Notices To Reliance General Insurance

Reliance General Insurance Company (RGIC), a subsidiary of Reliance Capital Ltd, received several show cause notices from the Directorate General of GST Intelligence, amounting to Rs 922.58 crore. According to sources, the company has received four notices from the DGGI demanding ...

GST Council Decides To Levy 18% GST On Corporate Guarantee For Subsidiaries, Cut Tax On Molasses To 5 Pc

The GST Council on Saturday clarified that guarantees provided by corporates to their subsidiaries will attract an 18 per cent GST, while no tax will be levied if a personal guarantee is given by a director to the company. The council, ...

GST Council Meeting: Flour Containing 70% Millet Exempted From GST; Tax On Molasses Slashed To 5%

The 52nd GST Council Meeting has started today (Saturday). Industry stakeholders, especially online gaming companies have been keenly awaiting today's meeting which is chaired by Finance Minister Nirmala Sitharaman and includes state finance ministers. Ahead of the meeting, Delhi and Goa ...

GST Revenue Rises To Rs 1.63 Lakh Crore In September; H1FY24 Collection At Rs 9.92 Lakh Crore

The gross revenue of goods and services tax (GST) has continued to stay over the Rs 1.6 lakh crore mark for the fourth month in a row during FY24. In September 2023, GST collection stood at Rs 1,62,712 crore, up by ...

28% GST On Online Gaming Companies To Come Into Effect From October 1

The much debated 28% Goods and Services Tax (GST) on online gaming companies will be effective starting October 1. The e-gaming industry had been lobbying with the government to defer the new rule for some time to ensure that their internal ...

What Is GST Composition Scheme? Eligibility & How To Opt For The Scheme

A streamlined tax structure commonly selected by small businesses with a certain turnover is the composition scheme under the GST statute. The previously mentioned scheme allows taxpayers with yearly aggregate turnover up to INR 1.5 crores (INR 75 lakhs for special ...

Additional 10% GST 'Pollution Tax' Maybe Considered On Diesel-Run Vehicles: Nitin Gadkari

India's Road Transport Minister plans to propose a 10% tax on diesel engine vehicles to the finance minister. India's Road Transport Minister Nitin Gadkari said on Tuesday he plans to propose imposing an additional 10% tax on diesel engine vehicles. ...

GST Revenues Grow 11 Pc To About Rs 1.6 Lakh Cr In August: Revenue Secretary

The GST revenues for August 2023 have shown a growth of 11 per cent year on year due to increased compliance and less evasion, Revenue secretary Sanjay Malhotra said on Friday. The collection from Goods and Services Tax (GST) was Rs ...

'Atmanirbhar Bharat': A Beacon for Post-Pandemic Indian Economy Recovery?

Introduction India, with its diverse and robust economy, has witnessed significant changes in its Gross Domestic Product (GDP) growth over the last five years. The following article provides a comprehensive overview of these fluctuations and their implications. Economic Growth: A Five-Year ...

Govt To Launch 'Mera Bill Mera Adhikar' GST Reward Scheme In 6 States, UTs From Sep 1, 2023

The government will launch the 'Mera Bill Mera Adhikar' invoice incentive scheme, which offers cash prize from Rs 10,000 to Rs 1 crore, from September 1, starting with six states and Union Territories. The scheme, which is aimed at motivating customers ...

Gst News