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Govt Adds GST In UPI QR Code To Give Fiscal Incentive For E-Payments
The National Payments Corporation of India (NPCI) is working on introducing a GST section in the UPI QR code. Reportedly, the move will provide easy access for the government to calculate the fiscal incentives for digital payments. While speaking at an event, the NPCI CEO Dilip Asbe said the NPCI is working with banks and payment companies to handle a billion UPI transactions daily. Asbe added, “UPI has grown 250% in nine months.”
Tags: QR Codes, UPI, NPCI, GST
Courtesy: The Times of India
Photo: Leaders Page
Anurag Thakur Denies Any Govt Plans To Impose New Tax On Petrol, Diesel
Minister Anurag Thakur on March 9 stated that the Centre has no plans of imposing any new taxes on diesel and petrol. Earlier during Budget 2021, Finance Minister Nirmala Sitharaman had announced agricultural tax at Rs 2.5 and Rs 4 on petrol and diesel respectively. Moreover, answering to question on the inclusion of petroleum products in the GST ambit, Thakur said, inclusion “will require the recommendation of the GST Council."
Tags: Anurag Thakur, Finance Minister, Petroleum, GST
Courtesy: LiveMint
Photo: Business Standard
Govt Extends Due Date Of Filing FY 2019-20 GST Returns Till March 31
As a major relief to the taxpayers, the Centre has extended the due date of filing the annual GST returns to March 31. Reportedly, the dates of furnishing GSTR-9 and GSTR-9C of FY 2019-20 due to expire on February 28 were extended viewing difficulties expressed by businesses during the pandemic. Moreover, the businesses and experts, grappled with the persistent compliance issues, thanked the government for deferring the deadline.
Tags: GST, Election Commission, business, CBDT, CBEC, FINANCE MINISTRY
Courtesy: The Economic Times
Photo: Outlook India
40,000 Trade Associations Join CAIT's Bharat Bandh Slated For Feb 26
Eight crore Indian traders belonging to nearly 40,000 traders associations have extended their support to the Confederation of All India Traders (CAIT) led Bharat Bandh scheduled for February 26. Additionally, the All India Transport Welfare Association (AITWA) has also avowed a Chakka Jam. While accusing e-commerce giants of violating norms, both the trade organizations are jostling for alterations or complete dismissal of the GST-propelled… read-more
Tags: Bharat Bandh, CAIT, AITWA, Chakkajaam, GST, E-way bill, Diesel
Courtesy: Money Control
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Centre Eyes To Merge 12%, 18% GST Tax Slabs Into One
The Centre is eyeing to merge the 12% and 18% GST tax slabs into one. Initially demanded by states and later backed by the Fifteenth Finance Commission, the matter is likely to be discussed by the GST council in its March meeting. Currently having four GST rates, and special rates on precious stones and metals, the Finance Ministry has been looking to make a three-rate structure of a merit rate, standard rate and demerit rate.
Tags: tax, GST, FINANCE MINISTRY, Tax Slabs, Tax Slabs Merger
Courtesy: Live Mint
Photo: NMTV
CAIT Announces Bandh On Feb 26; Demands Review Of GST Provisions
The Confederation of All India Traders (CAIT) will be observing a 'Bharat Bandh' on February 26. Reportedly, commercial markets across India will remain shut, and around 40,000 trade unions will be supporting the bandh. The move demands the Centre to review provisions of the Goods and Services Tax (GST). CAIT Secretary-General Praveen Khandelwal stated that technical glitches and compliance burdens had caused major problems in the particular… read-more
Tags: CAIT, Bharat Bandh, GST, GST Compliance
Courtesy: Hindustan Times
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Traders Body CAIT Calls Bharat Bandh On Feb 26 Over GST Complexities
Traders’ body, Confederation of All India Traders (CAIT) has called for a Bharat Bandh on February 26 against the complexities of the GST. The CAIT said that despite of writing numerous times to the GST council, their apprehensions were unheard. Moreover, it also blamed the council for focusing more on the revenue part and ignoring the ease-of-filing. Extending its support, the All India Transport Welfare Association will also hold a 'Chakka… read-more
Tags: CAIT, AITWA, GST, GST Council, Bharat Bandh, Chakkajaam
Courtesy: Times Now News
Photo: Free Press Journal
DGGI Initiates Probe Against Ola, Uber Over GST Evasion
For alleged GST evasion, a probe has been initiated against cab aggregators Uber India and Ola by the Director-General of Goods and Services Tax Intelligence(DGGI). Reportedly, the duo has not paid GST on the incentives paid to the drivers and charges imposed from the customers for cancellation of rides. Besides, Uber India and Ola need to pay a tax of about Rs 800 crore, and Rs 300 crore respectively. Moreover, DGGI has summoned companies'… read-more
Tags: Ola, Uber, Cabs, Cab Aggregators, GST
Courtesy: Business Insider
Photo: The Economic Times
GST Collections At All-Time High Of Over Rs 1.15 Lakh Crore In December
Citing the post-pandemic economic recovery as the reason, the Union Finance Ministry reported a record all-time high GST collections of over Rs 1.15 lakh crore in the December, 2020. It registered an increase of 10% from November 2020 figure which was highest in the last 21 months. December 2020 was also the third consecutive month to register over Rs 1-lakh-crore GST collection. Besides, the collection was 12% higher than that of December… read-more
Tags: India, GST, FINANCE MINISTRY, Economy, post-covid
Courtesy: WION
Photo: Moneycontrol
Govt Calls Off GST Registration For Not Filing Tax Returns
Over 1.63 lakh business entities' GST registration has been called off by the government. Reportedly, the measure has been taken due to the non-filing of tax returns for more than six months and refrain companies from benefitting Illegal Input Tax Credit (ITC). Additionally, 28,635 taxpayers, who have not filed their returns for more than six months have been identified. Moreover, the authority has directed its commissionerates to initiate… read-more
Tags: GST, Revenue Department, India, business
Courtesy: The Indian Express
