Stay updated
Tamil Nadu Minister P Thiaga Rajan on Saturday said the existing system to measure the Goods and Services Tax (GST) is ‘profoundly flawed’ and can be corrected by 20 different steps without needing any new legislations.
Last Saturday, Finance Minister Nirmala Sitharaman chaired a press conference following the conclusion of the 55th GST Council meeting. Through it, she inadvertently created a new term—‘popcorn taxation’—and lakhs of memes.
Directorate General of Systems and Data Management, CBIC issued Advisory No.: 12/2024 on 22.07.2024 regarding “updation of changes vide Budget 2024-25 in System”.
GST Council has reconstituted a ministerial group tasked with identifying possible sources of revenue evasion, improving coordination between the central and State GST authorities, and reviewing the IT systems in place for implementing the indirect tax.
With the second-highest Goods and Services Tax (GST) collection in March, the Finance Ministry has called for a meeting on April 4 to review the GSTN portal functioning and GST systems and processes, sources said. “The April 4 meeting will…