A. Tax in Media
Rs 163 cr fake billing scam unearthed
In a major breakthrough, the GST Department unearthed a massive bogus billing scam in Ludhiana, involving transactions worth Rs 163 crore over the past two years.
Sun Pharmaceutical faces ₹65 lakh fine from customs for duty short payment
Sun Pharmaceutical Industries Limited has received an order passed by the Commissioner of Customs (Appeal), Mumbai-III on December 12, 2024.
GoM on cess likely to seek six-month extension from GST Council on December 21 meet: Sources
The Group of Ministers (GoM) set up by the Goods and Services Tax (GST) Council to explore taxation mechanisms for luxury and demerit goods post-cess abolition will be seeking more time to finalise its recommendations in the Council’s upcoming meeting on December 21. According to sources, the GoM, chaired by Minister of State for Finance Pankaj Chaudhary, feels six months would suffice to finalise its report.
At pre-budget meet with FM, farmers demand scrapping of GST on agri inputs
A delegation of farmers, which met Union finance minister Nirmala Sitharaman last week, has sought scrapping of the Goods and Services Tax on farm inputs, two people who attended the meeting said on Monday.
GST amendments in sync with Council’s recommendations: Minister
West Bengal Finance Minister Chandrima Bhattacharya on Wednesday said amendments made to the Goods and Services Tax were in sync with the recommendations unanimously ratified at the GST Council meeting. Tabling the West Bengal Goods and Services Tax (Amendment) Bill, 2024 in the assembly, she said that the opposition to the amendment bill by BJP legislator Biswanath Karak was incomprehensible as the Centre has supported the state’s recommendation in this regard.
Tiruchi traders demonstrate against 18% GST on rent
Members of the Tamil Nadu Vanigar Sangangalin Peramaippu staged a demonstration in Tiruchi on Wednesday seeking withdrawal of the 18% Goods and Services Tax (GST) levied under the Reverse Charge Mechanism on rents paid for commercial properties.
Substantial rise in GST collection between April-November 2024
The Goods and Services Tax (GST) collections have gone up by 9.3 per cent so far in the current fiscal 2024-25 to RS. 14.56 lakh crore. In the April-November period of last year, the tax mop-up was Rs. 13.32 lakh crore.
Assistant commercial tax officer, 2 others held for fraud over Rs 4 crore in Odisha
The anti-corruption vigilance wing of Odisha Police arrested an assistant commercial tax officer (ACTO) and two other persons on charge of financial fraud of over Rs 4 crore, officials said Friday.
D Gukesh made history on Thursday by becoming the youngest-ever World Chess Champion at just 18, defeating China’s reigning titleholder, Ding Liren. While the nation celebrates his victory – highlighted by viral moments of him embracing his father and earlier videos where he shared his dream of becoming the youngest World Chess Champion – there is one section of people offering congratulations to the Income Tax Department !
How can tenants of NRIs apply for TDS reduction?
Under what circumstances a tenant whose landlord is a non-resident Indian (NRI) can apply for a reduction in tax deducted at source (TDS) on rent and what are the documents needed to support the application?
1% VAT on ATF could fetch cheaper flight tickets from Noida Airport compared to IGI
The Uttar Pradesh government has cut VAT on aviation turbine fuel (ATF) to make Jewar Airport a competitive aviation hub. Uttar Pradesh Chief Minister Yogi Adityanath’s recent decision to reduce the VAT on aviation fuel to just 1% is seen as a move to position Noida’s Jewar Airport as a competitive player. This airport is expected to become operational in 2025.
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