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The Union Finance Ministry notifies new CGST rates and says States will now have to follow suit and notify the State GST (SGST) rates to be levied on goods and services. File | Photo Credit: The Hindu The Union Finance Ministry has notified new Central GST (CGST) tax rates for goods, which will be effective…
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Revenues from domestic transactions grew 13.4%, the Finance Ministry said, while goods imports yielded an 8.3% uptick in the indirect tax collection. File | Photo Credit: K.V.S. Giri Year-end compliances lifted India’s gross Goods and Services Tax (GST) revenues past a record ₹2.1 lakh crore in April, reflecting a 12.4% growth over the previous record…
Read More “In fresh high, gross GST revenues shoot past ₹2.1 lakh crore in April” »
Zomato said it will be filing an appeal against the tax demand order before the appropriate authority. File (representational image) | Photo Credit: Reuters Online food delivery platform Zomato has received a tax demand and penalty order of ₹11.82 crore related to GST on export services provided to its subsidiaries located outside India from July…
Image used for representational purposes only. | Photo Credit: Special Arrangement India’s gross revenues from the Goods and Services Tax (GST) hit a three-month high to cross ₹1.65 lakh crore in July. However, at 10.8%, it was the slowest uptick in collections since July 2021 compared to revenues from the same month last year. Revenues…
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The 15th Finance Commission has recommended that States be given 41% of the divisible tax pool of the Centre. File. | Photo Credit: Reuters The Centre has devolved over ₹3.09 lakh crore to States till July of the ₹10.21 lakh crore budgeted to be transferred in the current fiscal, Minister of State for Finance Pankaj…
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