Delhi deputy chief minister Manish Sisodia on the arrest of Officer on Special Duty to him on bribery charges said that what CBI did is right and strictest action should be taken against the officer to set an example.
Speaking at the event in Jharkhand's Dhanbad, Chief Minister Hemant Soren on Tuesday said that after the implementation of Goods and Services Tax (GST) in India, Jharkhand bear the loss most.
This is second time since introduction of GST in July 2017 that the monthly revenues have crossed Rs 1.1 lakh crore. The GST collection is in line with the target set by Revenue Secretary Ajay Bhushan Pandey after a high-level meeting with senior tax officials earlier this month.
GST collections have crossed the Rs 1 lakh crore mark for the third month in a row in January with improved compliance and plugging of evasion, sources said on Friday.
Leading bicycle maker Hero Cycles on Monday urged the government to reduce GST on bicycles from 12 per cent to 5 per cent ahead of the Union Budget to revive demand in the rural markets.
Union Budget 2020: The Modi government is due to present the Union Budget for FY in Parliament on February 1. As the countdown for the Union Budget 2020 has begun, all eyes are set on what measures will be announced by the Finance Minister Nirmala Sitharaman.
LPG used as fuel in automobiles or Auto LPG, which is among the cleanest alternative fuels with a Global Warming Potential of 'zero' is currently taxed at 18 per cent GST.
Last month, the department had raised its GST tax collection target to Rs 1.1 lakh crore per month with Rs 1.25 lakh crore for a single month for the remaining period of this financial year while the direct tax target was to remain at Rs 13.35 lakh crore sans the corporate tax relief of Rs 1.45 lakh crore.
Microfinance industry body Sa-Dhan in its wish-list for Budget 2020-21 has urged the government to do away with levy of goods and services tax (GST) on the services provided by the sector.
The GST collection in November 2019 stood at Rs 1,03,492 crore. Of the gross Rs 1,03,184 crore last month, CGST is Rs 19,962 crore, SGST is Rs 26,792 crore, IGST is Rs 48,099 crore (including Rs 21,295 crore collected on imports) and Cess is Rs 8,331 crore (including Rs 847 crore collected on imports), an official statement said.
GST Return filing: Now, if you don't file the returns in time and ignore the reminders sent to you by the Income Tax Department, it may go ahead and freeze your assets such as your bank account and even your property.
GST officials have unearthed a racket involving fake invoicing worth Rs 1,600 crore that resulted in tax evasion of Rs 241 crore, an official release said in a statement on Thursday. The racket was busted by the anti-evasion wing of CGST Delhi South Commissionerate.
Government think-tank Niti Aayog member Ramesh Chand on Wednesday made a case for only two slabs under the goods and service tax regime as against the multiple slabs currently, and said rates should be revised annually if required.
Ahead of the crucial GST Council meeting, the Centre on Monday released about Rs 35,000 crore to states and Union Territories as pending compensation. The GST Council, the highest decision making body of the indirect tax regime, is slated to hold its meeting on December 18.
Ahead of the crucial meeting of the GST Council, Finance Minister Nirmala Sitharaman on Friday said the buzz of an increase in GST rates is everywhere other than her office.
Speaking in the Rajya Sabha, Finance Minister Nirmala Sitharaman admitted the delay but said that the Centre had released more than what it collected as cess in the current financial year 2019-20 till October-end.
This, coupled with the ongoing economic slowdown, has posed serious problems for the state's finances owing to which its development programmes are suffering, the CM informed Sitharaman.
GST revenue collection crossed the Rs 1 lakh crore mark after a gap of three months in November with the revenue growing by 6 per cent to Rs 1.03 lakh crore in the month. The GST collection was Rs 95,380 crore in October while it was Rs 97,637 crore November 2018.
"Every step being taken is in the interest of the country... looking at the economy with discerning view, you see that the growth may have come down, but its not a recession yet or it won't be recession ever," finance minister Nirmala Sitharaman said.
The government on Friday raised concerns over fake invoices being generated in the business-to-business (B2B) segment which is impacting GST collections.
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