As India continues on its growth trajectory, the spotlight shines on the efficacy of its tax policies, particularly the Goods and Services Tax (GST). With expectations of a significant increase in GST collections for the next fiscal year, fueled by a robust growth environment and transformative …
The government is contemplating eliminating the flexibility for buyers and sellers to revise their output liability by locking invoices and removing the edit option in the next financial year, as revealed by Revenue Secretary Sanjay Malhotra. This proposal, intended to be discussed at the upcoming GST …
In a significant move to combat fraudulent practices in Goods and Services Tax (GST) registration, the GST Council is considering a proposal to make biometric-based Aadhaar authentication mandatory pan-India for individuals deemed suspicious, seeking GST registration, according to Sanjay Kumar Agarwal, Chief of the Central Board …
The Government of India, in collaboration with States and Union Territories, has unveiled an upgraded Goods and Services Tax (GST) system, incorporating the advanced e-Invoice System. The newly launched portal offers an array of user-friendly features, empowering stakeholders to navigate various actions seamlessly. Key functionalities of …
“Keeping with the convention, I do not propose to make any changes relating to taxation and propose to retain the same tax rates for direct taxes and indirect taxes including import duties,” said the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, while presenting …
Legislative Clarity on Taxation In a significant development, the cabinet has granted approval for amending the Goa Goods and Services Tax Act, 2017, to address ambiguities in the taxability of casinos, horse racing, and online gaming. This move comes as a bid to provide a clear …
Potential Litigations Loom as GST Show Cause Notice Deadline Nears As the deadline for issuing show cause notices (SCNs) related to FY19 under the Goods and Services Tax (GST) Act approaches on January 31, 2024, the Central Board of Indirect Taxes & Customs (CBIC) has cautioned …
In a proactive move to curb potential tax evasion, six teams from the Goods and Services Tax (GST) Department recently conducted raids on multiple immigration firms in the city. Led by Pardeep Rawal, ETO, and directed by Jagdeep Sehgal, AETC, the teams meticulously examined GST returns, …
Government allows direct listing of securities by public Indian companies on International Exchanges of GIFT IFSC Initiative to boost foreign investment flows, unlock growth opportunities and broaden the investor base for Indian companies In pursuance of the announcement on July 28, 2023 by Union Minister for …
With February 1 looming on the horizon, stakeholders in the Micro, Small, and Medium Enterprises (MSME) ecosystem have actively communicated their Budget 2024 demands to Finance Minister Nirmala Sitharaman. The focus of these demands revolves around fostering the growth of small businesses, with key asks including …
