Houseboat owners in Thiruvananthapuram are facing a dilemma as the state GST department is now demanding 18% GST to be paid retrospectively from 2017, even though they have been paying at 5% all these years. The state government claims there has been misclassification of taxable income. The sudden change has put a financial burden on…
The CGST Palghar commissionerate in Mumbai uncovered a large fake Input Tax Credit (ITC) racket, resulting in the arrest of three individuals. The scheme involved fraudulent transactions totaling Rs. 59.11 crore through eight non-genuine firms, with the main player being M/s H&D Company in Palghar, Maharashtra. The investigation was prompted by intelligence gathered during a…
BJP MLA Vanathi Srinivasan clarified that she did not force the hotelier to apologize to Finance Minister Nirmala Sitharaman. The hotelier called her to express regret over his comments and asked to apologize to the FM, so she arranged the meeting. The video of the hotelier apologizing went viral, sparking a controversy with Congress and…
The NCP-SP expressed disappointment over Ajit Pawar’s absence from the GST Council Meeting, emphasizing the importance of the meeting for the growth and development of each state. They raised concerns about only finance ministers having the authority to speak in such meetings and questioned the decision to send a different representative in Ajit Pawar’s place….
Deputy Chief Minister Mallu Bhatti Vikramarka proposed exempting GST on health insurance premiums for senior citizens and reducing or exempting premiums for middle and lower middle class groups to ensure access to quality healthcare. He made these suggestions at the 54th GST Council meeting chaired by Nirmala Sitaraman. He also proposed exempting GST on research…
The automotive industry in India is booming, with significant contributions to the country’s GDP and job creation. The industry has surpassed a milestone of ₹20 lakh crore and is a major contributor to GST collections. The sector is focused on increasing local production and reducing import dependence, with a target to reduce import content by…
The Aam Aadmi Party (AAP) government in Delhi is strongly against the BJP-led central government’s plan to impose GST on payment gateway transactions below Rs 2,000. The Delhi finance minister, Atishi, believes that this decision would negatively impact startups and small businesses, putting financial strain on the entrepreneurial community. She criticized the central government for…