Indirect Taxes News

News

Centre extends import duty relief on lentil by six months

The latest move comes after official data showed that consumer price index based inflation was at 7.01% in June

1 min read24 Jul 2022
News

States feel the pinch of giving up sovereignty for unified GST

Sisodia joins chorus for full GST compensation as he claims states have limited ability to raise revenueCentre should borrow and fully make up for their GST revenue shortfall, says Sisodia

3 min read4 Sep 2020
Market

Not just lower taxes, evasion too a factor in the GST shortfall

Until December, 499 cases of fake invoices, used for claiming input tax credit worth 3,895 crore, were detected

3 min read7 Jan 2019
Politics

Govt mops up ₹6.12 lakh crore indirect taxes in April-November

During April-November of the ongoing fiscal, the total net indirect tax collection (inclusive of CGST, IGST and GST-Compensation Cess) is ₹6,12,653.47 crore, Minister of State for Finance Shiv Pratap Shukla said

1 min read4 Jan 2019
Companies

E-sealing on deposit, removal of goods from customs warehouses deferred once again

The e-sealing requirement for deposit in and removal of goods from customs bonded warehouses was originally to come into effect from August 15, 2018, which was then deferred to October 1, 2018. Its implementation was again postponed to November 1, 2018, and then further to January 1, 2019.

1 min read2 Jan 2019
Politics

Govt waives late fine for GST returns between Jul ’17-Sep ’18

Giving effect to the decision of the GST Council in its December 22 meeting, CBIC has notified waiver of late fees for non filing of GSTR-3B, GSTR-1 and GSTR-4 and non-payment of taxes between July 2017 and September 2018.

1 min read2 Jan 2019
Politics

GST evasion worth Rs38,896 crore detected during April-October

During the seven-month period, the CBIC recovered evasion worth Rs9,480 crore in GST, Rs3,188 crore in service tax, Rs1,600.84 crore in customs and Rs383.5 crore in central excise, the govt said

1 min read28 Dec 2018
Politics

E-way bill may be linked with FASTag to check GST evasion

Touted as an anti-evasion measure, e-way bill system was rolled out on April 1, 2018, for moving goods worth over ₹50,000 from one state to another

2 min read19 Nov 2018
Politics

Govt notifies due date for filing GST returns from July 2018 - March 2019

The government has modified the due date for filing of final GST sales returns by businesses with turnover exceeding 1.5 crore to the 11th day of the succeeding month

1 min read10 Aug 2018
Money

Mint Primer: How financial services will be taxed under GST

Apart from mutual fund exit load and credit card dues, GST has been introduced on a host of financial services, according to a CBIC FAQ. Mint takes a look at what this means

1 min read5 Jun 2018
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