The Centre has detected goods and services tax (GST) evasion worth Rs 824.14 crore by crypto exchanges, such as Binance, WazirX, CoinDCX, and CoinSwitch Kuber, the Lok Sabha was informed.
CII Eastern Region, today, facilitated an interactive session with Shrawan Kumar, IRS, chief commissioner, CGST & Central Excise Kolkata and Manoj Kumar Kedia, IRS, principal commissioner, CGST & Excise Kolkata, with various industry stakeholders in Kolkata.
The GST Council will hold its next meeting in Rajasthan’s Jaisalmer on December 21, during which it is likely to take a decision on exempting or lowering the GST rate on health and life insurance.
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.
Addressing media persons here on Wednesday, the AAP Farmers’ Wing, Himachal President, Aninder Singh Notty, accused the BJP governments at the Centre and the state of being anti-farmer.
Commenting on the five years of the GST, former finance minister P Chidambaram said, "In the last five years the defects of the GST have only become worse and all those touched by the GST have been seriously injured."
Narendra Modi said that the GST has furthered 'Ease of Doing Business' and fulfilled the vision of 'One Nation, One Tax'.
R G Agarwal, Chair, FICCI Committee on Crop Protection and Chairman, Dhanuka Group, said high Goods and Service Tax on crop protection chemicals especially hurts small and marginal farmers by increasing their input cost and prompting them to use these essential ingredients in sub-optimal quantities to the detriment of farm output and their own financial health.
An official note said the government has settled Rs 27,924 crore to CGST and Rs 23,123 crore to SGST from IGST. The total revenue of the Centre and the states in the month of May 2022 after the regular settlement is Rs 52,960 crore for CGST and Rs 55,124 crore for the SGST. In addition, the Centre has also released GST compensation of Rs 86912 crores to states and UTs on 31 May.
