Explore Business Standard
Sales Tax
Canadian Prime Minister Justin Trudeau's government announced plans on Thursday to temporarily lift the federal sales tax off a number of items and send checks to millions of Canadians who are dealing with rising costs and as a federal election looms. The measures come as a cost of living crisis has left voters unhappy with Trudeau and ahead of an election that could come anytime between this fall and next October. Our government can't set prices at the checkout, but we can put more money in people's pockets, Trudeau said at a press conference in Toronto. Under the plan, Canadians who worked in 2023 and earned up to 150,000 Canadian dollars (USD 107,440) will receive a check for 250 Canadian dollars. Trudeau noted that even those earning at the high end of that amount have been struggling to get by. An estimated 18.7 million Canadians will receive the one-time check. The federal goods and services tax break would begin December 14 and end February 15. The government said the tax
Tata Motors Ltd on Wednesday said it has received a tax demand of nearly Rs 25 crore, including penalty and interest, from authorities on account of short payment of tax and excess availment of credit. An order was passed on April 30, 2024, by the Sales Tax Officer Class II / AVTO Ward 204, Zone 11, Delhi and it was received on May 1, 2024, by the company confirming demand on account of short payment of tax and excess availment of credit under section 73 of the CGST/ SGST Act, 2017, Tata Motors Ltd said in a regulatory filing. The tax amount is Rs 14,25,68,173 with interest of Rs 9,14,15,704 and penalty of Rs 1,42,56,815. "Company is reviewing the order and will exercise the right to file appeal," Tata Motors said, adding that there is no material impact on financial and operational activities of the company on account of this order.
The growth rate of the combined revenue receipts of the 16 largest states has fallen by almost 80 per cent to 5 per cent during April-November from the budgeted 17.4 per cent for the current fiscal, according to a report. The states have so far borrowed over 37 per cent more than they did last fiscal and given these poor numbers, they will have to borrow heavily this fiscal to service their debt and pay salaries and pensions. The plunge is due to a contraction in sales tax and lower-than-budgeted growth of state goods and services tax collections (SGST), excise duty and stamps and registrations during the period, restricting the growth of states own tax revenue (SOTR) to 11 per cent. Another reason for the poor numbers is the steep decline in Central grants, Icra Ratings said in a report. The agency, though, expects an upside in tax devolution in the fourth quarter, its quantum may not be adequate to fully offset the shortfall in grants. Moreover, even if a sizeable portion of the
Tribunals in a progressive state like Maharashtra cannot remain primitive in embracing technology, the Bombay High Court said, while rapping the Maharashtra government for dragging its feet on the creation of an official website for the state sales tax tribunal. A division bench of Justices G S Kulkarni and Jitendra Jain, in its order of October 12, said it should not take so long to create and make the website functional. In the present era, the courts and tribunals, which cater to the demands of the consumers of justice, cannot be expected to function without the basic requirement of an official website, to say the least, the court said. The bench cited the Supreme Court's observation that technology plays an essential role in securing access to courtrooms and as a result, access to justice for citizens across the country. In embracing technology, the tribunals in a progressive state like Maharashtra cannot remain primitive. Providing a website would certainly enhance the efficie
The Andhra Pradesh government on Monday issued an order to fill 597 vacant posts under Group-I and Group-II services across various departments in the state. Of the 597 vacancies that have arisen, the Andhra Pradesh Public Service Commission (APPSC) will be filling up 89 vacancies in the Group-I category while the other 508 posts belong to Group-II category. "Government hereby permits the department-wise and post-wise recruitmentto be taken up by the APPSC for 597 posts," said principal secretary Chiranjivi Choudhary in the order. As many as 12 deputy collectors, 18 assistant commissioners (sales tax) and 26 sub-divisional police officers among other posts are expected to be recruited under Group-I services. Similarly, 161 assistant section officers, 114 deputy tehsildars and 150 excise sub-inspectors among others are expected to be recruited under the Group-II category.