Page 96 - Gst

Will urge FM to probe alleged avoidance of GST by Amazon, Flipkart: CAIT

The CAIT also said the visit of Jeff Bezos, founder of Amazon, on Wednesday to India will be greeted with strong protest from traders across country

Revenue dept detects 931 fraudulent GST claim cases through data analytics

Refunds of over Rs 28,000 crore are said to have been filed by over 27,000 taxpayers so far on account of inverted duty structure in the current financial year

Checking fraud in revenue leakage

One measure being considered is to link foreign exchange remittances with refund of IGST for risky and new exporters, apparently to curb fraudulent IGST refund claims

Amid revenue shortage, govt begins audit of GST returns for FY 2017-18

The instruction is that audit of large units be completed within seven working days, of medium units in five working days and of small ones in three

Dealing with GST fraud

Balance between ease of doing business and compliance is tricky

Best of BS Opinion: Dealing with GST fraud, India's GDP growth, and more

With a fresh assessment of the state of the economy, all stakeholders would now look forward to the Union Budget to see how the government plans to revive growth

Telecom industry urges govt to facilitate funding at lower interest rate

Representatives from the industry met telecom ministry officials to communicate their suggestions to help the debt-ridden sector

Ease of living, in a punitive state

Under this government, slogans, memes, catchphrases, alliterative coinages, and clever abbreviations abound. One of them being repeated ad nauseam is ease of living

States face over Rs 1 trillion revenue gap post GST compensation withdrawal

At the time of implementation of the Goods and Services Tax (GST) on July 1, 2017, the Centre had promised to compensate states for loss of revenue for five years at an agreed formula

Finance Ministry ramps up efforts to meet direct tax collection targets

Field officers were asked to make efforts to identify and initiate actions against willful tax evaders or those using fake invoices or e-way Bills

Revenue Secy asks tax officials to put special efforts to check evasion

Direct tax collection target for the current fiscal has been pegged at Rs 13.35 lakh crore despite corporate tax relief of 1.45 lakh crore

Govt's sops for auto sector: Hero reiterates demand of cutting GST

Hero's stance brings to fore the difference between them and rival Bajaj Auto which wants a GST cut closer to BSVI norms kicking in

FinMin to discuss ways with tax commissioners to plug GST leaks on Jan 14

Even as the GST collection crossed Rs 1-trn mark for the 2nd month in a row in December, the receipts were nowhere near Rs 1.10 trn required every month from Dec onwards to meet the target for 2019-20

Mobile handset manufacturers seek GST cut to 12% from 18-28% on accessories

The PCBA is a key component in the mobile manufacturing ecosystem. It sought continuation of BCD on mobile phones at 20 per cent

Revenue Secy to hold meet for streamlining GST refunds, curbing evasion

They will also discuss how to curb the misuse of refunds and share the best practices in revenue augmentation

Top 10 biz headlines: Rs 1 trn GST mop up, surge in new projects, and more

From pharma sector getting 'green' signal to IndiGo fleet size, here are the top 10 business headlines for the day

States' GST mop-up up 16% in December ; UP, Telangana remain laggards

Only Uttar Pradesh and Telangana witnessed a growth rate of less than 14 per cent

UP govt targetting to expand state GST pool from 1.4 mn to 5 mn traders

The tax department officials have been directed to prepare an action plan to increase the number of registered traders

India should maintain fiscal deficit; needs revenue mobilisation: Gopinath

India's consolidated deficit (the Centre and states combined) is the highest among the G20 nations, she added.

Drawback brand rates can be fixed on basis of averages, says expert

As per Para 4.43 of FTP, "Goods imported against Advance Authorisation Scheme, which are found defective or unfit for use, may be re-exported, as per Department of Revenue guidelines