Page 20 - Gst

Foreign airlines receive Rs 10,000 crore tax evasion notices from DGGI

The show cause notices, sent over the last three days, pertain to unpaid taxes on services imported by Indian branches from their respective head offices

Opposition slams government over 18% GST on life and health insurance

Sources in the TMC said that its MPs have raised the issue in Parliament and their party chief, WB CM Mamata Banerjee, has written to FM Nirmala Sitharaman on the matter

TMC leader Derek O'Brien urges govt to slash GST on health insurance

Senior TMC leader Derek O'Brien on Monday urged the government to reduce 18 per cent GST on health insurance policies, saying the high tax rate is burdening people, especially the middle class. Raising the issue during Zero Hour in Rajya Sabha, he also referred to a letter written to the finance minister by senior BJP leader and Union Minister Nitin Gadkari making similar demand. "The demand is straightforward. Reduce 18 per cent GST on medical and health insurance. We should reduce it because this is an issue which is burdening people, mainly the middle class. That's why it needs to be reduced," said Derek. The TMC leader pointed out that insurance penetration in India is low at 4 per cent compared to more than 7 per cent globally. Further, he said there is an imbalance in the insurance sector, where 75 per cent is life insurance policies, and 25 per cent medical insurance. Derek said the West Bengal chief minister has written to the finance minister in this regard and many ...

Infosys coded tax network in India, it got a Rs 32,400 cr GST notice

Infosys said Wednesday it has paid all that it is legally required to - and even investors don't believe that India's second-largest software exporter needs to provide for the alleged liability

DGGI gives partial relief to Infosys, closes Rs 3,898 cr FY18 GST tax case

Earlier this week, the IT services company received a Rs 32,403 crore GST notice from authorities

West Bengal CM slams GST on insurance premiums, urges Centre to reconsider

The decision to impose an 18% tax on insurance policies and premiums has drawn criticism from several Opposition leaders, including Mamata Banerjee

GST demand order for Eicher Motors reduced to Rs 27 crore on appeal

Eicher Motors on Friday said a GST demand order by tax authority in Tamil Nadu has been reduced to Rs 26.97 crore from an original sum of Rs 129.79 crore upon appeal. The company had received the original demand from the Additional Commissioner, Chennai North Commissionerate, Chennai, Tamil Nadu on December 30, 2023 for aggregate amount of Rs 129.79 crore, including tax demand of Rs 117.99 crore and penalty of Rs 11.79 crore. "As a result of the appeal filed by the company against the above GST demand order, the demand order is now revised from Rs 129.79 crore to an aggregate amount of Rs 26.97 crore, which include tax demand of Rs 24.52 crore and penalty of Rs 2.45 crore," Eicher Motors said in a regulatory filing. The matter pertains to non-reversal of input tax credit on material returned instead of output tax liability paid by the company for 2017-18. "Based on the company's assessment, the aforesaid revised demand is not maintainable and the company is evaluating all options .

The tax issue: Karnataka withdraws Infosys notice, Centre may go for review

DGGI to examine if June 26 circular can apply in this case

New milestone: GST collection rises 10.3% to third highest at Rs 1.82 trn

Gross GST collections rose 10.3 per cent in July to over Rs 1.82 lakh crore, according to official data released on Thursday. As per data released by the government, total refunds stood at Rs 16,283 crore in July. Net Goods and Services Tax (GST) collection after accounting for refunds was over Rs 1.66 lakh crore, a growth of 14.4 per cent. Gross revenues from domestic activities grew 8.9 per cent to Rs 1.34 lakh crore in July. The GST revenue from imports jumped 14.2 per cent to Rs 48,039 crore. GST revenues had hit a record high of Rs 2.10 lakh crore in April 2024.

Karnataka authorities have withdrawn GST tax notice, says Infosys

DGGI sent a notice to Infosys for non-payment of Integrated Goods and Services Tax (IGST) on import services as the recipient of services

Expanding GST: Focus on land and real estate

It will give an impetus to factor market reforms, which are essential to drive India's growth

Infosys says it's in full compliance after Rs 32,000 crore GST notice

The company, in a regulatory filing, said that the demand was towards the expenses incurred by its overseas brand offices for the period from July 2017 to March 2022

Abolish tax on life, health insurance premiums: Gadkari writes to FM

Gadkari said in his letter that he is writing to the finance minister following a memorandum from the Nagpur Divisional Life Insurance Corporation Employees Union

Infosys gets demand notice for GST evasion of over Rs 32,000 crore

The tax demand relates to services availed by the IT services conglomerate from its overseas branches for five years starting 2017

Please remove GST on life, medical insurance premiums: Nitin Gadkari to FM

In a letter addressed to Finance Minister Nirmala Sitharaman, Nitin Gadkari requested the removal of 18 per cent GST on life and medical insurance premiums.

On the table: Fitment panel working on 2 sets of 3-slab GST structure

The panel is working on two options to keep prices of essential goods in check

GST amnesty scheme: A step forward or a missed opportunity?

While the GST amnesty scheme is a positive step towards improving taxpayer relations, its current form falls short of its potential

'Don't want to raise tariffs to high levels as industry becomes complacent'

Since indirect tax figures are not being released, we are treating GST data in the same manner, he says

Union Budget 2024-25: Propelling India's evolution into 'Viksit Bharat'

With the objective of ease of doing business and in line with recent Goods and Services Tax (GST) council recommendations, various proposals have been introduced under GST

Union Budget 2024: Beginning of remarkable direct tax reforms by Modi 3.0

Income tax changes in Budget 2024: On the personal income-tax front, the tax slab rates have been rationalised only under the new tax regime