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Haryana has achieved a significant milestone in Goods and Service Tax (GST) collection, securing the fifth position among the top states in the country With a notable growth of 18.3%, the state recorded a total tax collection of ₹32,076 crore during the first six months of the current financial year (April-September 2023), compared to ₹27,155 […]
Hon’ble Delhi High Court for the case of Delhi Metro Rail Corporation Limited vs. The Additional Commissioner, Central Goods and Services Tax Appeals and Others [W.P. (C) 6793/2023 dated September 18, 2023] ruled that the limitation duration of two years under Section 54(1) of the Central Goods and Service Tax Act, 2017 (“the CGST Act”) […]
GST revenue growth in India has slowed to the 27-month low of 10.2% in September from nearly 10.8% in the past two months. While a 2.3% improvement in collections is there in the revenues of August to touch Rs 1,62,712 cr. In September 2022, revenues generated from domestic transactions, including service imports, exceeded tax collections […]
Starting from October 1st, there will be an 18% Integrated Goods and Services Tax (IGST) imposed on the import of online services for personal use from offshore digital service providers. These providers include software vendors, content streaming platforms, social media companies, and search engines that host advertisements. This new tax regulation is by a directive […]
The late payment of Tax collection at source (TCS) and Goods and Services Tax (GST) does not constitute a penalty and should, in fact, be eligible for deduction under Section 37 of the Income Tax Act, 1961, the Jaipur bench of the Income Tax Appellate Tribunal (ITAT) recently ruled. The taxpayer involved in this case […]
During an event on Saturday, Finance Minister Nirmala Sitharaman stated that the North Eastern states have experienced a significant increase in their GST revenue following the implementation of the Goods and Services Tax (GST) in 2017. Sitharaman, speaking at ‘Conclave 2023,’ pointed out the favourable impact of the Goods and Services Tax (GST) on the […]
According to SANJAY KUMAR AGARWAL, the Chairman of the Central Board of Indirect Taxes and Customs (CBIC), the buoyancy in goods and services tax (GST) collections will persist throughout the rest of the year. In a conversation with Shrimi Choudhary at his office in North Block, Agarwal credits the increased collections to improved compliance. Having […]
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 […]
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, […]
