Supreme Court Dismisses GST Department’s Plea, Upholding High Court Ruling on Input Tax Credit In a significant development, the Supreme Court has quashed a petition filed by authorities challenging a Calcutta High Court ruling. The High Court had determined that input tax credit (ITC) to a …
Robust Growth in Advance Tax Collection Signals Economic Resilience In a significant development, the advance tax collection for direct taxes has demonstrated an impressive surge, marking a substantial 19.76% growth compared to the previous year. The data for December 2023 showcases a noteworthy collection of Rs 6,24,329 …
Dream11 Withdraws Plea Against Rs 1221 Crore GST Notice, Maharashtra GST to Issue Fresh Notice State GST Withdraws Notice Fantasy sports giant Dream11 has decided to withdraw its plea challenging the Rs 1221 crore Goods and Services Tax (GST) show cause notice issued by the Maharashtra …
In a recent update, the Goods and Services Tax Network (GSTN) has unveiled a user-centric enhancement on the GST Portal, introducing the “Address and Contacts” feature under the “My Profile” section. This new tab promises to streamline user interaction by consolidating vital information related to promoters …
Government Unveils Record-Breaking GST Evasion Detection of Rs 1.5 Lakh Crore; Focus on Online Gaming Companies Raises Stakes In a significant revelation, the government disclosed on Monday that its intensified efforts to curb Goods and Services Tax (GST) evasion have resulted in detecting a staggering Rs …
Central Tax Officers Issue 33,000 GST Notices for Discrepancies in Returns and Short Payment of Taxes In a recent development, Central tax officers have issued approximately 33,000 Goods and Services Tax (GST) notices to businesses, highlighting discrepancies in returns filed and instances of short payment of …
GST Collection Soars: Finance Minister Sitharaman Highlights Record-Breaking Trends and Reforms Finance Minister Nirmala Sitharaman disclosed on December 4 that the Goods and Services Tax (GST) collection has been on an upward trajectory since its inception on July 1, 2017. In response to a query in …
Government Unveils Ambitious Legislative Agenda for Winter Session, Including Key Reforms and Legal Overhauls In a significant development, the government has unveiled an extensive list of 18 bills to be presented during the upcoming winter session, set to commence on December 4, 2023. The legislative agenda …
Government Proposes Simplification of GST Norms to Boost Small Businesses: Focus on MSME Empowerment In a bid to bolster the micro, small, and medium enterprises (MSME) sector, the government is contemplating significant simplifications in the Goods and Services Tax (GST) registration process, particularly in the realm …
