Wednesday, Finance Minister Nirmala Sitharaman warned that petroleum goods may soon be subject to GST. The comments were made only a few months after Petroleum and Natural Gas Minister Hardeep Singh Puri stated that the central government was prepared to include gasoline and diesel in the GST. It might be accomplished if there was an … Read more
According to Karnataka’s Chief Minister Basavaraj Bommai, the state collected a record-breaking GST revenue of January 2023 for Rs 6,085 crore. The Chief Minister also credited the changes, vigilance, and better tax compliance by taxpayers who made it possible in a series of tweets. “GST collections reached a record high of 6,085 crore this month. … Read more
Sitharaman stated in front of the House of Representatives that West Bengal has not filed its audited data since 2017 for GST Compensation. The West Bengal government on Friday night said the Centre owes it Rs 2,409.96 crore, responding to Union Finance Minister Nirmala Sitharaman’s statement that the state has not sent GST compensation cess claim with accountant general … Read more
News related to GST Compensation. The AG office closes out the books at the end of the financial year, so at first the pay is based on gross revenue, not net revenue The state government said it “does not agree” with Union finance minister Nirmala Sitharaman’s Lok Sabha statement about West Bengal and provided the … Read more
A senior official said on Monday that India will not combine its GST tax rates in the next fiscal year. This puts off a change that the country has been thinking about for more than a year to simplify its tax system and make life easier for consumers. The country currently has five GST tax … Read more
Adani Wilmar GST Raid: The firm has issued an official statement regarding the raid and claims of GST violations, stating that the inspection was routine and officials did not detect any anomalies The company’s official statement is the most recent update in the Adani Wilmar Group raid at a Himachal Pradesh Depot Warehouse. As of … Read more
GST on cement may be revised as per Honorable Finance Minister According to Sitharaman, the government would be prepared for any new shocks brought on by global trends; the minister provides the example of how the Center handled an unexpected rise in fertilizer prices in 2021. Nirmala Sitharaman, Union Finance and Corporate Affairs Minister, stated … Read more
A simplified regulatory framework for e-commerce exports of jewellery through courier mode has been issued on 30.06.2022 by the Central Board of Indirect Taxes and Customs (CBIC) in the form of a Standard Operating Procedure (SOP). The SOP details the handling, movement and procedural aspects for such exports, based on electronic declarations, through International Courier … Read more
The GST department has issued over 60 gst summons during the first fifteen days of the new year 2023. The action covers taxpayers operating in several sectors and industries such as IT, pharma, and chemical. Blue Cross Laboratories, Supriya Life Sciences, and Yasho Industries are notably the big names who have received the summons, among … Read more
As is common knowledge, the GST Council made the decision at its 48th meeting declaring of what constitutes an SUV. Therefore gst on SUV cars become the important topic. In order to be considered an SUV in accordance with the new definition, a vehicle will need to satisfy three criteria. Total three criteria for SUV … Read more