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The government has gathered Rs 8.65 trillion in direct taxes as of September 16, after accounting for tax refunds. This amount surpasses more than half of its yearly goal, as reported by the Central Board of Direct Taxes (CBDT). The direct taxes collected up to this point, which also include the initial two instalments of […]
GST for the applicant does not get levied on the amount which shows the portion of canteen charges of the employees collected via the applicant to the canteen service provider (CSP), Gujarat Authority for Advance Rulings (AAR) articulated. The Applicant is involved in the production and distribution of mining and construction equipment in India, with […]
In August, there was a record-breaking number of 9.34 crore e-way bills generated, as per data from GSTN, the IT system for indirect taxes. This surpassed the previous high of 9.09 crore e-way bills in March of the same year. While GSTN hasn’t specified the exact reasons for this surge in GST e-way bill generation, […]
As per the Central Board of Indirect Taxes and Customs (CBIC), the enrolled businessmen on the GST network portal in Punjab’s Bathinda should show their GST number on their premises and if they do not follow then they need to pay a fine of Rs 50,000. For the GST verification, the CBIC is running the […]
According to a report from the Finance Ministry, the Goods and Services Tax (GST) has maintained parity with personal income tax as a percentage of GDP. This is attributed by economists to consumer demand, compliance, and maybe some effects of inflation. Another opinion holds that this tendency is not ultimately resulting in a system of […]
Some states have achieved great success collecting record GST revenue. Madhya Pradesh, Karnataka, and Uttar Pradesh have reported the highest growth rate in GST revenue. The growth is marked in the first four months of the current fiscal year compared to the same period of time in the previous fiscal year. In the mentioned states, […]
What is RCM Liability Under GST Section 9(3)? Various supplies under section 9(3) would have been notified where the tax is liable to get paid via the receiver under RCM. This article attempts to analyze the application of RCM to the purchase of goods from vendors whose turnover is below the registration requirement. Let’s say […]
GST revenue in July of Tamil Nadu and Karnataka has outdone the other states in average GST collection. The states are doing well in their growth in GST collection in the first four months of this fiscal year. On the contrary, Telangana has shown a decline by a single digit in its year-on-year growth rate […]
As the ongoing sales over the e-commerce platforms ahead of Independence Day, the GST collection by Goa has been revealed. Goa’s GST collection grew 25%, over a period of three years, namely from 2019-20 to 2022-2023, as per the state government. The data was disclosed in the state legislative assembly, the GST revenue from e-commerce […]
