Articles for Crore Gst

Zomato slapped with ₹803 crore tax demand by GST authorities
1 week, 4 days ago

Zomato slapped with ₹803 crore tax demand by GST authorities

Live Mint  

Online food delivery platform Zomato, in a regulatory filing on Thursday said that it has received a tax demand of ₹803.4 crore, including interest and penalty from the GST department in Thane. The demand order has been received in respect of non-payment of GST on delivery charges with interest and penalty thereon, the company said adding that it will file …

Delivery Company Zomato
Top News on Dec 1: GST collection rises, Andhra dissolves Waqf board, Kejriwal rules out alliance in Delhi polls, more
3 weeks, 2 days ago

Top News on Dec 1: GST collection rises, Andhra dissolves Waqf board, Kejriwal rules out alliance in Delhi polls, more

Live Mint  

From increase in GST collection to Andhra govt dissolving Waqf board to killing of 7 Maoists to Donald Trump picking loyalist Kash Patel as his new FBI director, here are today's top stories. GST collection for November rises by 8.5% to ₹ 1.82 lakh crore The goods and service tax collection for the month of November rose 8.5 per cent …

Delhi Maharashtra Maoists Donald Trump Crore Fbi Gst
Research funds totally exempt from GST, notices sent to private institutions like IIT, Anna, Punjab University no longer to be sought
3 months, 1 week ago

Research funds totally exempt from GST, notices sent to private institutions like IIT, Anna, Punjab University no longer to be sought

Op India  

Following the GST Council’s decision to exempt central and state-governed higher education institutions from settling GST on their research funding, notices issued to some prominent institutions, including IIT-Delhi, Anna University, and Punjab University, concerning their outstanding GST pays will no longer be sought out. “The recent exemption of GST on research grants in educational institutions has been broadly welcomed within …

Education Research Tax University Crore Iit Received
Hero MotoCorp receives ₹17.64 crore GST notice from Delhi GST authority
4 months ago

Hero MotoCorp receives ₹17.64 crore GST notice from Delhi GST authority

Live Mint  

Hero MotoCorp Ltd. received a goods and service tax demand notice of ₹17.64 crore from the Office of the GST Officer, Government of NCT Delhi's Department of Trade and Taxes, according to the company's Bombay Stock Exchange filing on Sunday, August 18. Hero MotoCorp is to pay a total of ₹17.64 crore as the demand notice, which is divided into …

Delhi Tax Hero Company Demand Filing Motocorp
GST Needs A Robust Dispute-Resolution Mechanism - News18
10 months ago

GST Needs A Robust Dispute-Resolution Mechanism - News18

News 18  

The Goods and Services Tax was introduced to rationalise the indirect tax system in India, thereby creating a common national market for goods and services. Disputes on an interpretation of the law, unsatisfactory advance ruling mechanism, and revenue-centric approach by tax authorities have led to an increase in litigation. For example, the ‘Sabka Vishwas Scheme 2019’ resolved around 49,534 pre-GST …

Tribunals Disputes Crore Advance Gst Taxpayers Litigation Aar
HUL hit with ₹447.5 crore GST demands and penalties
11 months, 3 weeks ago

HUL hit with ₹447.5 crore GST demands and penalties

Live Mint  

Leading FMCG maker Hindustan Unilever Ltd on Monday said it has received Goods and Services Tax demands and penalties totalling ₹447.5 crore from the authorities. This includes the demand for tax "on salaries including allowances paid to expats amounting to ₹372.82 crore and penalty amounting to ₹39.90 crore" from the Joint Commissioner, CGST and Central Excise, Mumbai East Besides, Deputy …

Tax Demand Crore Gst Hul Amounting Gst Credit
Modi govt’s big business push? India considers easing arrest threshold for GST tax evasion
1 year, 1 month ago

Modi govt’s big business push? India considers easing arrest threshold for GST tax evasion

Firstpost  

The proposal seeks to increase the threshold from the current ₹2 crore to ₹3 crore as part of an initiative to decriminalize specific aspects of tax evasion. This initiative is part of a broader effort to decriminalize specific aspects of tax evasion, aiming to alleviate undue pressure on businesses and create a more favourable environment for conducting operations. However, the …

Tax Tax Evasion Crore Gst Threshold Evasion Gst Evasion
Chandigarh GST collection in September up by 6%
1 year, 2 months ago

Chandigarh GST collection in September up by 6%

Hindustan Times  

The UT administration has registered an increase of 6% in Goods and Services Tax collection in September, against the gross levy collected during the corresponding period last year. In August, Chandigarh had also witnessed a similar growth of 7%, up from ₹ 179 crore last year to ₹ 192 crore in 2023. In August, the UT had also witnessed a …

Month Chandigarh Crore Gst Collection
Punjab cleared entire power subsidy bill of ₹20,200 cr: Mann
1 year, 8 months ago

Punjab cleared entire power subsidy bill of ₹20,200 cr: Mann

Hindustan Times  

Chandigarh Punjab’s economy is back on track, chief minister Bhagwant Mann said on Friday, asserting that the Aam Aadmi Party government has cleared its entire electricity subsidy bill of ₹20,200 crore for the last financial year and has witnessed a jump in excise and GST revenue, Punjab chief minister Bhagwant Mann Addressing the media, the CM said the AAP government’s …

Revenue State Crore Punjab Mann Gst Power Subsidy
Delhi GST officers detect ₹17 crore tax evasion by issue of fake invoice, arrest two people
1 year, 9 months ago

Delhi GST officers detect ₹17 crore tax evasion by issue of fake invoice, arrest two people

The Hindu  

GST officers in Delhi have unearthed a fake invoicing racket involving tax evasion of ₹17 crore and arrested two persons, the Finance Ministry said on March 18. Central Goods and Service Tax Delhi South Commissionerate conducted inspection at the registered premises of three bogus firms/company, namely M/s. "Preliminary enquiry conducted so far into the transactions of these firms has revealed …

Delhi Tax Tax Evasion Crore Gst
TMS Ep313: GST share of states, China plus one, Markets, FPO
2 years ago

TMS Ep313: GST share of states, China plus one, Markets, FPO

Business Standard  

In the run-up to the upcoming Union Budget, finance ministers of some states -- mostly ruled by opposition parties -- have demanded a 10 percentage point jump in their share of revenue from GST collections. India’s robust GST collections clearly point towards one thing. Meanwhile, foreign portfolio investors returned to Dalal Street after over two months, pumping over 31,000 crore …

India China Fpo
GST Collections in July 2022: All Major States Report Above 15% Growth; Maharashtra, Karnataka Lead
2 years, 4 months ago

GST Collections in July 2022: All Major States Report Above 15% Growth; Maharashtra, Karnataka Lead

News 18  

Even as the GST collections in July at Rs 1,48,995 crore are the second-highest mop-up ever, states that have contributed the most are Maharashtra, Karnataka, Gujarat, Tamil Nadu and Uttar Pradesh. In terms of year-on-year growth, Lakshdweep was the best in July 2022 with a 69 per cent jump in GST collections, while Bihar and Tripura were the worst. M …

Growth Karnataka Maharashtra States Month Crore Cent
GST 5 years: The journey of indirect tax regime so far
2 years, 5 months ago

GST 5 years: The journey of indirect tax regime so far

India TV News  

Highlights GST drastically altered India's tax administration and compliance GST regime made it easier to do business by doing away with multiple taxes Centre and states come together in GST Council to discuss modalities for smooth functioning of GST GST 5 years: The Goods and Services Tax, which completely redesigned the nation's indirect tax system and drastically altered tax administration …

India Tax States Council Cent Gst Council Crore Gst
GST collections surge in November 2021
3 years ago

GST collections surge in November 2021

The Hindu  

Gross Goods and Services Tax collections hit ₹1,31,526 crore in November, the second highest since the GST was implemented in July 2017 and the second month in a row that collections have crossed ₹1.3 lakh crore. “We were hopeful that the GST collections in November would exceed the prevailing highest collections recorded in April 2021, given the all-time high generation …

Crore Ministry Gst Revenues Gst Collections Tax Collections Collections Surge
GST Council Meet: No Consensus on Tax Relief on COVID Supplies Yet
3 years, 6 months ago

GST Council Meet: No Consensus on Tax Relief on COVID Supplies Yet

The Quint  

The exemption is also applicable on vials of Amphotericin-B, which is the drug used to treat mucormycosis, or “black fungus”, the finance ministry said. Additionally, the Centre also proposed market borrowing of Rs 1.58 lakh crore to compensate states for the GST shortfall due to back-to-back loans like last year, however, several states disagreed, suggesting it was an underestimation of …

Centre Gst
Indirect Tax Collection for FY 2020-21 Up 12%, Beats Revised Estimates
3 years, 8 months ago

Indirect Tax Collection for FY 2020-21 Up 12%, Beats Revised Estimates

News 18  

The net indirect tax collections in 2020-21 grew 12.3 per cent to Rs 10.71 lakh crore as compared to the previous fiscal year, thereby exceeding the target set in revised estimates, the finance ministry said on Tuesday. The net tax collections on account of central excise and service tax during 2020-21 stood at Rs 3.91 lakh crore as compared to …

Tax Crore Cent Lakh Gst Collection Net
Centre Transfers Rs 6,000 Crore in GST Compensation to States
4 years, 2 months ago

Centre Transfers Rs 6,000 Crore in GST Compensation to States

The Quint  

Last week, the Centre gave in to the demands of opposition-ruled states to borrow and fund the GST compensation shortfall. The GST council headed by Finance Minister Nirmala Sitharaman have met several times in the past few months but failed to come to a consensus on the issue of funding the shortfall of Goods and Services Tax revenue of states. …

States Centre Gst Borrow Gst Compensation
₹1.51 Lakh Crore GST Compensation Due To States; GDP Contraction, Lockdown, Etc., Reasons For Revenue Shortfall: Centre Tells Lok Sabha
4 years, 3 months ago

₹1.51 Lakh Crore GST Compensation Due To States; GDP Contraction, Lockdown, Etc., Reasons For Revenue Shortfall: Centre Tells Lok Sabha

Live Law  

The GST compensation due to states stands at over ₹1.51 lakh crore, said the Union Ministry of Finance on Monday in the Lok Sabha.The Ministry said that the nominal GDP for Q1, 2020-21 shows a contraction of 22.6% which is one of the major reasons for the revenue shortfall in GST. The GST compensation due to states stands at over …

Finance Compensation States Lok Sabha Revenue Centre Ministry
The Hindu Explains | What is the GST compensation due to States?
4 years, 3 months ago

The Hindu Explains | What is the GST compensation due to States?

The Hindu  

September 05, 2020 08:58 pm | Updated September 06, 2020 12:14 am IST The story so far: The 41st meeting of the GST Council was held on August 27 with the singular agenda of finding a solution to the question of how best to ensure that the compensation payable to the States as part of the implementation of the Goods …

Tamil Nadu Compensation States Revenue Fund Crore Centre
GST Compensation: Centre Could Borrow to Pay States as Raising Taxes May be Counter-productive
4 years, 4 months ago

GST Compensation: Centre Could Borrow to Pay States as Raising Taxes May be Counter-productive

News 18  

The GST compensation due with the Centre for four months are enough to pay salaries to all Punjab government employees for two months, said the state’s finance minister Manpreet Singh Badal. He was responding to Union Food Processing Minister Harsimrat Kaur Badal over her assertion that the Centre has cleared the entire pending GST compensation amount for the state by …

Finance Compensation States Pay Council Revenue State