GST Council to meet in Delhi today
PrintListen to this Article
Under the Goods and Services Tax rolled out from July last year, inter-state road transport of goods beyond 10 kilometre with a value of 50 thousand rupees and above, will mandatorily require e-way bill from 1st of February. This will bring uniformity across the States for seamless inter-state movement of goods.
Chaired by Union Finance Minister Arun Jaitley and comprising his state counterparts, the Council may also consider a reduction in GST rates for goods and services in view of the representations received from various groups. This will be the 25th meeting of the Council.
Meanwhile, Group of Ministers appointed to look into IT issues of GST held their sixth meeting in Bengaluru yesterday. Talking to media after the meeting, Bihar Deputy Chief Minister and head of the Group, Sushil Modi said, dip in revenue during the last few months is a matter of concern.
He said the revenue collection dipped from 92,283 crore rupees in July to 80,806 crore rupees in November. He said the figures indicate that there have been attempts to evade or suppress taxes. Mr Modi said, the GST Council will today discuss measures to prevent tax evasion and suppression. #casansaar (Source - NewsonAir)
Category : GST | Comments : 0 | Hits : 437
TEST
Dear Taxpayers, 1. GSTN is pleased to inform that an enhanced version of the GST portal would be launched on 3rd May 2024. The effort is to improve user experience and ensure that the information you need is accessible and easy to navigate. 2. Key Enhancements Include (PDF with screenshots attached): i. News and Updates Section: We have introduced a dedicated tab for all news and updates. This section now includes a bet...
The Supreme Court on Friday issued notices to the central government, the Central Board of Indirect Taxes and Customs (CBIC), the Goods and Services (GST) Council and the National Anti-Profiteering Authority (its functions have been taken over by the Competition Commission of India) on a petition challenging a Delhi High Court verdict, upholding the constitutional validity of anti-profiteering provisions filed by a real estate company. The petition, filed by Swati Realty, says the high court ...
The delectable Malabar Parota will taste even better with the Kerala High Court ruling that the popular flatbread will attract GST at 5 per cent and not 18 per cent. With this the court has turned down order by the State’s Authority of Advance Ruling (AAR) and Appellate Authority for Advance Ruling (AAAR). Disposing a petition by Kochi-based Modern Food Enterprises, a single judge bench of Justice Dinesh Kumar Singh said if key inputs (cereals, flour, starch, etc) and preparations are s...
A businessman from Delhi was taken into custody by the Noida police for his alleged involvement in a massive Rs 15,000 crore GST fraud that was exposed last year, TOI reported. Tushar Gupta, aged 39 and residing in Tilak Nagar, was arrested as the 33rd suspect in this case. The police revealed that Gupta had exploited input tax credit (ITC) using 35 fake companies, resulting in a loss of Rs 24 crore to the exchequer over the past two years. He was reportedly part of a syndicate that utiliz...
Comments