Tag: GST

GST Council to deliberate on taxation of insurance premium, report on online gaming

September 8, 2024 admin

The GST Council on Monday (September 9, 2024) is expected to deliberate on a host of issues, including taxation of insurance premium, GoM’s suggestions on rate rationalisation, and a status report on online gaming, sources said. Sources claimed the fitment committee, comprising Centre and State tax officials, will present a report on GST levied on…

Business

GST receipts’ growth slows marginally to 10% in August

September 1, 2024 admin

In August, gross revenues from domestic transactions were up 9.2%, improving from an 8.9% rise in July, | Photo Credit: Getty Images/iStockphoto The growth in India’s Gross Goods and Services Tax (GST) collections slowed down marginally to 10% in August from 10.3% in July, with revenues of nearly ₹1.75 lakh crore, but the rise in…

Business

Broadcast Ministry Requests GST Exemption On Digital News Subscription

August 19, 2024 admin

Representational Image The Information & Broadcasting (I&B) Ministry has urged the Ministry of Finance to reduce the GST on digital news subscriptions. In a letter dated July 22, I&B secretary Sanjay Jaju requested his revenue counterpart Sanjay Malhotra to either exempt the GST on digital news subscriptions or reduce it from 18 per cent to five…

Nation

Mamata Banerjee On Budget Move To Tax Insurance

August 2, 2024 admin

West Bengal Chief Minister Mamata Banerjee has urged the BJP-led central government to withdraw GST on life and medical insurance premiums, saying that it adversely affects people’s ability to take care of their vital needs. The Trinamool Congress chief is the latest to criticise the move announced by Finance Minister Nirmala Sitharaman in the Budget….

Nation

Top IT Body NASSCOM Backs Infosys After Rs 32,000 Crore GST Notice

August 1, 2024 admin

GST authorities have issued a Rs 32,403 crore notice on Infosys for services availed by the company. New Delhi: Apex IT association Nasscom on Thursday came out in support of Infosys — which is facing a Rs 32,403 crore GST notice, saying that the move reflected a lack of understanding of the industry’s operating model….

Nation

Budget 2024: Where does the money come from and go?

July 23, 2024 admin

The government allocates 21% of its budget to the State’s portion of taxes and duties | Photo Credit: Pichumani K Finance Minister Nirmala Sitaraman presented the Narendra Modi government’s first full-fledged budget after the NDA secured third consecutive win. Budget 2024 LIVE Updates The Budget mentioned net tax receipts for 2024-25 at ₹25.83 lakh crore,…

Business

Experts Urge Centre To Remove 18% GST On Mental Health Services

July 22, 2024 admin

Lack of mental health professionals is crippling in India, an expert said. New Delhi: The government must remove or limit the 18 per cent Goods and Services Tax (GST) on mental health services, and allocate resources strategically to help India become a mentally resilient society, experts said on the eve of the Union Budget presentation…

Nation

Why the GST Council recommended biometric-based Aadhaar authentication for new registrations: Explained

June 26, 2024 admin

New Delhi: Union Finance Minister Nirmala Sitharaman chairs the 53rd GST Council meeting, in New Delhi, Saturday, June 22, 2024. The story so far: On June 22, the GST council recommended introducing biometric-based Aadhaar authentication for GST registrations, in a phased manner. In a media interaction after the conclusion of the council meeting, Finance Minister…

Business

Amid debate about inheritance tax, rising share of personal income tax and indirect tax remains a concern

April 30, 2024 admin

Share of personal income tax and indirect tax shows increase Over the last week, during the election campaign, the Congress’ manifesto and the party’s emphasis on social justice and welfare were suddenly thrust into the limelight. Prime Minister Narendra Modi sought to give the Congress’ demand for a caste census and its plans to study…

Business

Watch | P. Chidambaram: ‘When we come to power GST will be reformed; States will be empowered’

February 9, 2024 admin

Watch | P. Chidambaram: ‘When we come to power GST will be reformed; States will be empowered’ Former Union Finance Minister P. Chidambaram says no structural reforms have been carried out in the country since 2014. He says there is no credibility to the government’s numbers and the claim of a V-shaped economic recovery after…

Business