12 Dec, 2024
Why Payment Gateways Want GST Waivers on Low-Value Commissions Ahead of the upcoming GST Council meeting on December 21, payment gateway operators are seeking a waiver on the 18% GST levied on commissions for digital payments up to ₹2,000. This request stems from the potential negative impact on digital payment growth, particularly affecting merchants who […]
Read More11 Dec, 2024
55th GST Council Meeting: What’s at Stake for Businesses and Consumers? The 55th GST Council meeting on December 21, 2024, is expected to address pivotal reforms like GST rate rationalisation, inverted duty structure, and taxation on insurance premiums. These decisions could significantly impact India’s taxation system, aiming to enhance efficiency, reduce cascading tax effects, and […]
Read More11 Dec, 2024
India’s Economic Growth: Leading the Global Race India’s economic growth continues to dominate headlines, as it remains the fastest-growing major economy globally. Finance Minister Nirmala Sitharaman recently reaffirmed confidence in India’s growth trajectory, predicting sustained economic expansion not just this year, but well into the future World Bank: Upgraded Growth Forecast The World Bank has […]
Read More11 Dec, 2024
Farmers Call for GST Waiver on Agri Inputs Ahead of Budget 2024 In a recent pre-budget meeting with Finance Minister Nirmala Sitharaman, Indian farmers strongly advocated for the scrapping of GST on agricultural inputs. This demand stems from the increasing financial burden due to taxes on essentials like seeds, manure, and pesticides. Why Farmers Want […]
Read More11 Dec, 2024
GST Share to States: ₹6.42 Lakh Crore Till November The Centre distributed a whopping ₹6.42 lakh crore to states and Union Territories (UTs) from GST collections by November 2024. This amount includes State Goods and Services Tax (SGST), Integrated Goods and Services Tax (IGST), and compensation cess. Let’s break down the numbers and understand the […]
Read More11 Dec, 2024
GST ITC Evasion by fake firms has reached alarming levels, with authorities detecting fraud worth Rs 35,132 crore between April and October 2024. This revelation highlights the growing need for stringent compliance and data-driven enforcement. The Scope of the Fraud Between April and October 2024, a coordinated special drive led to the detection of 18,876 […]
Read More10 Dec, 2024
📰 ED Files Prosecution Complaint in UKSSSC Paper Leak Case The Enforcement Directorate (ED), Dehradun, has filed a Prosecution Complaint (PC) before the Hon’ble Special Court (PMLA) on 21st November 2024 against Jaijeet Das and 16 others. This complaint is linked to the infamous UKSSSC paper leak case, which shook the Uttarakhand recruitment system. The […]
Read More10 Dec, 2024
🧾 Understanding GSTN Advisory on Table 8A vs 8C Mismatch for FY 2023-24 The GSTN Advisory No. 557 (dated December 09, 2024) highlights a critical issue: the mismatch in Table 8A and 8C of the annual return (Form GSTR-9) for FY 2023-24. This discrepancy arises due to changes in the auto-population of data, creating confusion […]
Read More10 Dec, 2024
Post 🔍 No Pending GoM Report on GST Rates: Finance Ministry Clarifies The GoM report on GST rate rationalisation is not pending for review before the GST Council, according to the Finance Ministry’s recent statement on December 9. This clarification comes amidst widespread speculation regarding possible GST rate cuts or hikes. 📢 What Was Clarified […]
Read More10 Dec, 2024
SEBI Alerts Investors on Unlisted Shares Trading The Securities and Exchange Board of India (SEBI) recently issued a public warning about trading unlisted shares through unauthorized electronic platforms. These platforms, which facilitate the trading of public limited company shares not listed on recognized stock exchanges, violate SEBI regulations. Engaging in such transactions can expose investors […]
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