GST collections see 8.9 pc YoY growth at Rs 1.87 lakh crore in October
It is the eighth consecutive month when GST collections stayed above the Rs 1.7 lakh crore mark.
It is the eighth consecutive month when GST collections stayed above the Rs 1.7 lakh crore mark.
The officials from the Kerala Goods and Services Tax (GST) department have seized 104 kg of unaccounted gold valued at around Rs 75 crore in massive raids across gold jewellery-manufacturing units, wholesale outlets and residences in Thrissur district. The raids began on Wednesday and concluded on this morning.
Chief minister Mamata Banerjee today welcomed Centre’s decision to withdraw GST on Life and health insurance, announced today.
The cross-country comparative data on sugar-sweetened beverages (SSB) taxes collated by the World Bank shows that India has one of the highest tax rates for carbonated soft drinks (CSDs) at a total tax rate of 40 per cent as of 2023.
While highlighting that the reliance on personal funds for business operations increases with age, the survey said among self-employed women, 52% of those over 45 years old use their own savings, compared to only 36% of those aged 25-35 years.
Chief minister Mamata Banerjee said the entire expense will be borne by the state government since the central government has stopped all the development funds meant for the state.
A simple solution to control time and cost overruns would be to condense the timeline of all Government projects to one year. Typically, each Government Department has scores of projects running simultaneously. Budget allocations are made in a way that some projects hibernate while others are speeded-up. If a time period of one year is uniformly allocated for all Government projects, starting from 1 April, cost and time overruns could be easily monitored
A high-level Parliamentary panel has suggested to the government to look into the possibility of developing a mechanism for online audit in GST, in order to make the process more efficient and less intrusive.
The budget was completely silent on any tax revisions on bidis or smokeless tobacco, which are consumed by most Indian tobacco users. It is pertinent to mention here that cigarettes account for only 15 per cent of tobacco users in India. There are reports which establish that cigarette smokers switch to bidis when cigarettes become exorbitant; this is equally detrimental to health. For public health professionals this negligible tax increase on cigarettes in the Union Budget and leaving taxes on other tobacco products unaffected was a major disappointment
Union Finance Minister Nirmala Sitharaman on Saturday chaired the 49th meeting of the Goods and Services Tax (GST) Council, in Vigyan Bhawan, New Delhi.
