Many Large Companies To Move Appellate Authority Against GST Demand Notices | Companies News

[ad_1] New Delhi: Many large companies that have received GST demand notices have decided to file an appeal with the Appellate Authority. In recent days, an increasing number of GST notices have been sent to many companies mainly on account of alleged discrepancy in input tax credit (ITC). ICICI Lombard General Insurance Company Limited said … Read more

Hyderabad Restaurant Fined Rs 5K For Denying Free Drinking Water | Companies News

[ad_1] New Delhi: Most restaurants and hotels offer packed water to customers. This practice has increased in recent days. If you make visits to the same these days, you may have a chance encounter with the same and to pay extra money for it. That is why, it is talk of the town nowadays. What … Read more

GST Collections Creates Another Record With Rs 1.78 Lakh Crore-Mark In March | Economy News

[ad_1] New Delhi: Seven years since it was first rolled out on July 1, 2017, the Goods and Services Tax has undergone a massive change since then. While the GST collection amount hit a record high in March 2023, it has again touched second highest tally in March 2024. The Goods and Services Tax … Read more

Deadline For GST Composition Scheme Is March 31: Check What It Is, How To Opt, And More | Economy News

[ad_1] New Delhi: Every business registered under GST needs to submit returns either every month or every quarter, along with an annual return. These returns, known as GSTR filings, are completed online through the GST portal. But, if you want to avail the benefit of the Composition Scheme, the deadline is March 31, 2024. Now, … Read more

GST Collections In Feb Rise 12.5 Pc To Cross Rs 1.68 Lakh Crore | Economy News

[ad_1] New Delhi: Gross Goods and Services Tax (GST) revenue collections for February rose by a robust 12.5 per cent year-on-year in February to Rs 1,68,337 crore, according to figures released by the Finance Ministry on Friday. The growth was driven by a 13.9 per cent rise in GST from domestic transactions and 8.5 … Read more

Rs 1 Lakh Penalty For Tobacco Product Makers If They Fail To Do THIS | Companies News

[ad_1] New Delhi: Manufacturers of pan masala, gutka and similar tobacco products will have to pay a penalty of up to Rs 1 lakh, if they fail to register their packing machinery with the GST authorities with effect from April 1. The move is intended to curb revenue leakage in the tobacco manufacturing sector. … Read more

Number Of Income Tax Filers Increases To Over Eight Crore: President Murmu During Budget Session | Economy News

[ad_1] New Delhi: Today, Wednesday (January 31, 2024), President Droupadi Murmu stated that the number of people filing income tax in the country has increased to around eight and a half crore, surpassing the earlier figure of approximately seven and a half crore. Addressing the joint session of the Lok Sabha and Rajya Sabha on the … Read more

FinMin Says Future Reforms Include Reducing Compliance Burden For MSMEs, Energy Security | Economy News

[ad_1] New Delhi: The Finance Ministry said on Monday that the priority areas for future reforms include skilling, learning outcomes, health, energy security, reduction in compliance burden for MSMEs, and gender balancing in the labour force. The ministry in a review of the Indian economy just days before the Interim Budget (Feb 1) said … Read more