The Haridwar district of Uttarakhand has sentenced a businessman to five years in prison for fraud related to input tax credits. Uttarakhand’s Goods and Services Tax department said this was the first conviction for GST evasion. Mukesh Chandra Arya, the chief judicial magistrate, convicted businessman Surendra Singh of claiming input […]
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Mumbai: Bhiwandi Commisionerate busts fake GST invoice racket; one held
The Bhiwandi Commisionerate of Central Goods and Services Tax (CGST) in Mumbai Zone busted a fake GST invoice racket which used to avail and pass fake Input Tax Credit (ITC). The CGST Bhiwandi informed that one such firm M/s Vishwakarma Enterprises has availed ineligible ITC of Rs 2.57 Crore on […]
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SC rejects private tour operators’ pleas seeking GST exemption for Hajj, Umrah services
The Supreme Court on Tuesday rejected a batch of petitions by various private tour operators seeking GST exemption for Hajj and Umrah services offered by them to pilgrims travelling to Saudi Arabia. A bench headed by Justices AM Khanwilkar dismissed the plea filed by All India Haj & Umrah Tour Organizer Association and other tour operators. The court […]
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Kerala FM says state staring at financial crisis due to reduced GST funds
Kerala Finance Minister K N Balagopal has written to Union Finance Minister Nirmala Sitharaman claiming that the state is undergoing a financial crisis as it had not received GST compensation to the tune of Rs 12,000 crore. “The financial health of the state has been seriously affected by a reduction in the revenue deficit grant to the […]
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Rahul Gandhi hits out at Centre over GST hike on scientific equipment
Congress leader Rahul Gandhi hit out at the Centre over the latest revision in Goods and Services Tax (GST) on scientific instruments claiming that the step would prove detrimental to the interests of the research eco-system in the country. “Don’t let science suffer because of your ‘Gabbar Singh Tax’, Prime […]
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No GST on items sold by Kudumbasree, small stores says Kerala Finance minister
Amid growing protest over the imposition of Goods and Services Tax (GST) on essential commodities, Kerala Finance Minister K N Balagopal said that the state shall not impose Goods and Service Tax (GST) on items sold by Kudumbashree and small stores. The tax will not be imposed on loose packets or items […]
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AAP MP Sanjay Singh gives adjournment notice in RS to discuss increased GST on food items, inflation
Aam Aadmi Party (AAP) Rajya Sabha MP Sanjay Singh on Tuesday gave an adjournment motion notice under Rule 267 to discuss the increased GST on food items and rising inflation. “With your request, I would like to inform you that the inflation in our country is touching the new sky every day. This rising […]
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RS MP KC Venugopal moves suspension of business notice to discuss inflation, increase in GST
Congress MP KC Venugopal on Monday moved suspension of business notice under Rule 267 in Rajya Sabha to discuss inflation and the recent increase in GST of some essential commodities. “I hereby give a notice under Rule 267 of the Rules of Procedure and Conduct of Business in the Council […]
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GST cut to 5 per cent on domestic MRO services to boost aviation sector
The government has reduced the Goods and Services Tax (GST) rate on domestic maintenance, repair, and overhaul (MRO) services to 5 percent from 18 percent in order to support the aviation sector, Minister of State for Civil Aviation General (Retd) V K Singh said on Monday. In a written reply […]
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Textile traders of Aligarh stages protest against GST hike from 5 per cent to 12 percent
The textile traders of Aligarh staged a protest against the Central government following the decision to hike the Goods and Services Tax (GST) on textile fabrics from 5 percent to 12 percent. Staging a protest against the rise in goods and services tax (GST) from 5 percent to 12 percent, […]
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GST council meet today: Key agenda to bring petroleum products under GST regime
Union Finance Minister Nirmala Sitharaman will chair the 45th GST Council meeting at Lucknow on Friday. This is the first time in 20 months that the GST council will be doing any physical meeting. After December 18, 2019, all the GST Council meeting was done in virtual mode. The key agenda of the meeting is how to bring diesel, petrol […]
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GST Revenue collection for April’ 21 sets new record high of Rs. 1,41,384 crore
The gross GST revenue collected in the month of April 2021 is at a record high of Rs 1,41,384 crore of which CGST is Rs 27,837 crore, SGST is Rs 35,621, IGST is Rs 68,481 crore (including Rs 29,599 crore collected on import of goods) and Cess is Rs 9,445 […]
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GST, demonetisation destroyed MSME sector: Rahul Gandhi
Former Congress President Rahul Gandhi on Saturday said the major economic policies of the present National Democratic Alliance (NDA) government like Goods and Services Tax (GST) and demonetisation destroyed micro, small and medium enterprises (MSME) in the country. “A massive crippling blow delivered to the economy was demonetisation. It devastated […]
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GST authorities arrest 215, including CEOs, for input tax credit error
The Goods and Services Tax (GST) authorities have arrested 215 people, including 81 proprietors, 36 directors, three chief executives, six chartered accountants and one company secretary involved in fraudulently misappropriating input tax credit by using purchase invoices issued by fake companies, a finance ministry official said. “GST intelligence authorities have […]
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GST faces challenge to meet higher revenue expectations
The Goods and Services Tax (GST) was passed in a joint session of parliament on 1 July, 2017. It is the biggest tax reform in the history of the country. GST’s rollout abolished a plethora of regional taxes and ushered in a unified indirect tax regime across the country. This […]