Acknowledge the Impact of GST on Cars

Considering the automobile business to be one of the leading businesses in any given country, it has affected India. The price of the car increased by a huge amount, but the method of implication made it quite different too.

The Delhi government's Goods and Services Tax (GST) department on Saturday unearthed a Rs 347-crore "fake billing scam" involving 11 firms and one person was arrested in connection with it, according to an official statement.

After the massive tax evasion of GST by Cryptocurrency Service providers WazirX, the Directorate General of GST Intelligence has come down heavily on Cryptocurrency exchanges operating in the country, said sources.

GST revenue collected in December was over Rs 1.29 lakh crore, 13 per cent higher than the same month last year. Though it was lower than Rs 1.31 lakh crore mopped up in November.

After the massive tax evasion of GST by Cryptocurrency Service providers WazirX, the Directorate General of GST Intelligence has come down heavily on Cryptocurrency exchanges operating in the country, said sources.

Food aggregators like Swiggy and Zomato will have to collect and deposit tax at 5 per cent rate starting today, a move which will widen the tax base as food vendors who are currently outside the GST threshold will become liable to GST.

GST Mumbai East Commissionerate detected a GST evasion worth Rs 40.5 crores and recovered Rs 49.2 crore in cash pertaining to GST evaded, interest, and penalty from the cryptocurrency exchange WazirX.

Currently, restaurants registered under GST are collecting and depositing the tax. Also, cab aggregators like Uber and Ola will have to collect five per cent Goods and Services Tax (GST) for booking two and three-wheeler vehicles effective January 1.

Earlier in the year, the Central Board of Indirect Taxes and Customs had announced that the GST rate on garments, textiles, and footwear would be raised from five per cent to 12 per cent with effect from January 1, 2022.

Food ordering from platforms including Swiggy and Zomato may become costlier soon as a new tax rule is coming into force starting January 1. Under the rule, food aggregators will be required to collect a five percent Goods and Services Tax (GST) from restaurants for their food items.

Several states have sought extension of the GST compentation cess regime for another five years

Several markets dealing with garment business in Delhi remained shut on Thursday in protest against the central government's proposed move to hike GST rates on textile from existing 5 per cent to 12 per cent from January 1.

The Directorate General of GST Intelligence on Thursday refuted rumours about its proposed handling of the Rs 197.49 crore cash and 23 kg of gold (worth an estimated Rs 11 crore) recovered last week during tax raids on UP businessman Piyush Jain.

Fiscal 2020-21 GST Return Filing: TheCentral Board of Indirect Taxes & Customs has extended the deadline from December 31, 2021, to February 28, 2022.