New Delhi: The Bombay Stock Exchange (BSE) Sensex gained more than 200 points on Thursday on strong domestic cues. Among the Sensex stocks, Powergrid was up more than 3 per cent while Tata Motors, Asian Paints, Sun Pharma, Tata Steel, M&M, Nestle India, HDFC Bank were up more than 1 per cent. BSE Senses was … Read more
Representational Image New Delhi: Online food delivery platform Zomato has received a goods and services tax (GST) demand and penalty order worth Rs 11.81 crore. The order consists of Rs 5.9 crore in GST demand and a penalty of Rs 5.9 crore for July 2017-March 2021 period. “The company has received an order for the … Read more
The government has released GST collection data for March 2024. (Photo: Shutterstock) March 2024 sees the second-highest monthly gross GST revenue collection at Rs 1.78 lakh crore Gross GST collection in March 2024 jumped 11.5 per cent year-on-year (YoY) to Rs 1,78 lakh crore, according to an official statement released on Monday. It is the … Read more
NEW DELHI: The Madras HC has stayed a GST demand of about Rs 80 crore on salary paid by Hyundai Motors to seconded employees. The company had challenged the December 23, 2023 tax demand notice from the GST authorities, which had considered the entire salary amount paid to seconded employees as taxable. Secondment, a common … Read more
PETALING JAYA: The recent implementation of 6% service tax on logistics services has caused confusion and apprehension within the industry nationwide, says the Institute of Strategic Analysis and Policy Research (Insap). “The SST on local freight is a hidden tax hike on consumers which, according to Sabah Freight Forwarders and Logistics Association president Datuk Johnson … Read more
The Directorate General of Goods and Services Tax Intelligence (DGGI) has initiated a probe into possible tax evasion of ₹850 crore in 2020-21 and 2021-22 by some large commercial coaching centres and could soon issue show cause notices to them, said officials. The investigation relates to misdeclaration of the number of enrolments and non-payment of … Read more
New Delhi: Finance minister Nirmala Sitharaman said on Monday that the Centre is not discriminating against any non-BJP-ruled state in the release of funds, as the transfer is based purely on the recommendation of the Finance Commission, and termed the allegation of bias as a “politically vitiated narrative”.The minister was responding to a question from … Read more
NEW DELHI: The Central Board of Indirect Taxes and Customs chairman Sanjay Kumar Agarwal Friday said tighter norms for filing returns under the goods and services tax will reduce enforcement action and improve compliance while making the life of honest taxpayers easier.“I feel that this tightening is not actually making the life of taxpayers difficult … Read more
New Delhi: Bajaj Auto is developing a portfolio of CNG motorcycles, and the first such bike will hit the market next fiscal under a new brand, Bajaj Auto Executive Director Rakesh Sharma said on Wednesday. The company wants the government to consider lowering GST on such CNG bikes — which will serve as a bridge … Read more
NEW DELHI: The Jharkhand High Court has ruled that the Directorate General of Goods and Services Tax Intelligence (DGGI) does not enjoy any special power or privilege compared to the officers of the state GST authorities, if they are investigating the same taxpayer for the same offence. Justices Rongon Mukhopadhyay and Deepak Roshan came down … Read more
