Tag: GST

GST will help in achieving the vision of five trillion dollar Indian economy by 2025

NEW DELHI: India’s Road Transport & Highways and MSME Minister Nitin Gadkari has said that GST will help achieve the vision of five trillion dollar Indian economy by 2025. Addressing a webinar on the “GST Day” on the theme “THE JOURNEY OF GST AND WAY FORWARD – AATMANIRBHAR BHARAT” organised by the Institute of Cost […]

DGGI Gurugram officials arrest man for input tax credit fraud of more than Rs 43 crore

NEW DELHI: The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana, has arrested Ravinder Kumar (aka Ravinder Garg), resident of New Delhi on charges of creating and operating fictitious firms on forged documents which were used in availing of and passing on Input Tax Credit on bogus Invoices without actual receipt and […]

Finance ministry releases instalment of Rs 6,000 crore to states to meet GST compensation shortfall

NEW DELHI: The Ministry of Finance, Department of Expenditure has released the 13th weekly instalment of Rs. 6,000 crore to the States today to meet the GST compensation shortfall. Out of this, an amount of Rs. 5,516.60 crore has been released to 23 States and an amount of Rs. 483.40 crore has been released to […]

GST officials recover Rs 700 crore in 2 months, arrest 215 over fake invoices

NEW DELHI: The Directorate General of GST Intelligence (DGGI) and the CGST Commissionerates have recovered more than Rs 700 crore and arrested 215 persons in the last two months in cases related to fake GST invoices that were used to illegally avail or pass on input tax credit (ITC). GST intelligence authorities have registered about […]

Telangana gets approval for additional borrowings of Rs 2,508 crore

NEW DELHI: After Andhra Pradesh and Madhya Pradesh, Telengana has become the third state to complete urban local bodies reforms stipulated by the Union finance ministry. With the completion of the reforms, the ministry has allowed the state to make additional borrowing of Rs 2,508 crore. The permission for mobilising additional financial resources of Rs […]

GST compensation shortfall: Modi government releases 10th instalment of Rs 6,000 crore to states

NEW DELHI: The Ministry of Finance has released the 10th weekly instalment of Rs.6,000 crore to the States to meet the GST compensation shortfall. Out of this, an amount of Rs.5,516.60 crore has been released to 23 States and an amount of Rs.483.40 crore has been released to the 3 Union Territories (UT) with Legislative […]

Additional borrowing permission of Rs 16,728 crore granted to 5 states

NEW DELHI: Narendra Modi government (Centre) has granted permission for additional mobilise additional financial resources to the tune of Rs 16,728 crore through open market borrowings to five states. The permission has been granted as the state have so far completed the stipulated reforms in the ease of doing business. These states are Andhra Pradesh, […]

Modi government releases Rs 42,000 crore to states to meet GST compensation shortfall

NEW DELHI: The Narendra Modi government (Centre) has so far borrowed Rs 42,000 crore since October and released the funds to states to meet GST compensation shortfall, the Finance Ministry said on Monday. The Ministry of Finance has released the 7th weekly instalment of Rs.6,000 crore to the States to meet the GST compensation shortfall. […]

‘Not against Constitution’: Supreme Court upholds GST on lottery, betting, gambling

The Supreme Court on Thursday upheld the levy of Goods and Services Tax (GST) on lotteries, betting and gambling, ruling that this doesn’t violate any constitutional provision. A bench headed by Justice Ashok Bhushan and comprising Justices R. Subhash Reddy and M.R. Shah said: “When the 2017 Act defines the goods to include actionable claims […]

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