Page 86 - Gst

Top headlines: VI bites bullet on tariff hike; auto sales contract in Nov

From Vodafone Idea taking a lead in hiking tariffs by 6 to 8 per cent to contracting auto sales, here are top headlines this morning

Will e-invoicing weed out fake invoices and bills even at the retail level?

The expert view is that it will be easier for the retail industry to dodge the system and evade taxes, than it will for the durables sector

Telangana opts for Option 1 to meet GST shortfall, joins 22 other states

The Union Ministry of Finance informed that Telangana has opted for Option-1 suggested by the Ministry to meet the shortfall in revenue arising out of GST implementation

No extra load on taxpayer for GST turnover shown in form 26AS: Revenue dept

Form 26As is a yearly consolidated tax statement accessible from income-tax dept's website using a PAN. One can refer to it for details of high-value expenses and taxes paid

Professionals and kingpins among 25 held for issuing fake bills under GST

350 cases filed against 1,180 entities, actual amount of fake ITC claimed being ascertained, say sources

Bengal FM writes to Nirmala Sitharaman to seek GST Council meeting

West Bengal FM Amit Mitra is seeking a meeting of the GST Council for discussions on Centre's borrowings to meet the collection shortfall

DGGI's Mumbai Zonal Unit busts Rs 408-crore GST fraud, arrests 4

The Directorate General of GST Intelligence has arrested directors of four companies on charge of involvement in GST fraud totalling Rs 408 crore, an official said here on Thursday.

Experts wary about sustainability of Rs one trillion GST collections

They believe the October mop-up may have resulted from pent-up demand, are sceptical about the post festive season scenario

Top headlines: Future Retail files caveat in HC, US poll effect on markets

From how markets will react to US elections to Adani group being favourites for Sri Lanka port, Business Standard brings you the top headlines of the day

GST borrowing to meet states shortfall must be reasonable: Finance Secy

So far, 21 states and 3 Union Territories have opted for the borrowing plan proposed by the Centre

GST shortfall: Centre to transfer Rs 6,000 crore to 16 states, three UTs

The Centre had on October 23 transferred Rs 6,000 crore to 16 states and 2 UTs of Delhi and Jammu and Kashmir

Tax mop-up showing signs of pick up, economy on revival path: Finance Secy

Pandey said the generation of e-way bills, needed for transportation of goods, is back to pre-Covid levels and online payments have risen exponentially

UK firms say India has become easier for business, want solution to tax row

Annual report on UK companies says retrospective amendment to India's Income Tax Act is a dampener.

Petroleum ministry says it supports including natural gas under GST

Decision that has to be taken by the GST council, says senior civil servant.

States will need years to recover from 'scissor effect' of Covid: RBI

Phenomenon refers to loss of revenues due to demand slowdown, coupled with higher expenditure associated with pandemic, may push the states to great strife

BP wants bigger pie of India fuel market, bats for natural gas under GST

Firm to create 80,000 jobs by increasing fuel retail outlets, along with Reliance, to 5,500 in 4-5 yrs

Composition taxpayers can now file 'nil' GST statement through SMS

While they needn't log on to the GST portal for filing nil returns, the facility on GST portal will remain available to taxpayers

GST officials arrest 1 person for trading in fake invoice, generating ITC worth Rs 52.19 cr

GST officials have busted a fake invoice trading racket and arrested a person for passing on input tax credit (ITC) of over Rs 50 crore, a source said on Sunday.

Best of BS Opinion: Interest-waiver issue, Covid-19 crisis, and more

Here's a selection of Business Standard opinion pieces for the day

GST officials bust racket for availing Rs 50 cr illegal input tax credit

Khatri was generating illegal availment and wrongfully passing on of Input Tax Credit (ITC) to the tune of Rs. 50.24 Crores