Union Budget 2022: Here's What The Indian Automotive Industry Is Expecting

Finance Minister, Nirmala Sitharaman will be announcing the union budget for FY2023 on February 1, 2022, and like all other industries, the auto sector is also eagerly waiting to see what is in store for them.

GST officers have busted a syndicate involved in the creation of fake firms and bogus invoices which led to a GST evasion of Rs 362 crore, the finance ministry said on Thursday.

An 'accountant' has been arrested for allegedly issuing bogus bills of Rs 1,000 crore and committing an input tax credit fraud of Rs 181 crore

The petroleum industry in the country has urged the government to bring natural gas under the ambit of GST regime

Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance.

The pharma industry is expecting an increase in the overall fund allocation for the healthcare sector, focus on policies that encourage R&D activities

Besides, the association has sought bringing aviation turbine fuel under the ambit of GST to make air travel "more viable" for all stakeholders

Automobile dealers' body FADA has urged the government to reduce GST rates on two-wheelers to 18 per cent in order to generate demand in the segment.

ICEA has sought a roll-back of GST to 12 per cent from the current slab of 18 per cent on mobile phones

GST officers have arrested one person for operating a syndicate and issuing fake invoices of Rs 4,521 crore for availing input tax credit (ITC) benefit under goods and services tax, an official statement said on Friday.

The auto components industry body is seeking some relaxation from the central government in the Union Budget, including a uniform Goods and Services Tax rate of 18 per cent on all auto parts.

Tax officers will give reasonable time to traders to explain reasons for mismatch in turnover reported in sales return GSTR-1 and tax payment form 3B

HDFC Bank is the second largest agency bank to the government for collections of direct taxes, and for GST payments.

A joint commissioner of the Goods and Services Tax (GST) went missing from his office in Mumbai's Mazgaon area on Wednesday, police sources said.