GST Council To Meet On December 31 To Discuss Rate Rationalisation

GST council led by finance minister Nirmala Sitharaman will meet on December 31, a day after she holds talks with her states counterparts on budget

The raid on Uttar Pradesh businessman Piyush Jain is not a case of mistaken identity, sources in the agency that investigates GST evasions said after the unearthing of heaps of unaccounted cash from his premises made national headlines.

A team of Directorate General of GST Intelligence (DGGI), Lucknow Unit visited the office and residence of another Kanpur-based businessman late on Tuesday for the verification of tax evasion allegations.

The Directorate General of GST Intelligence (DGGI) on Wednesday concluded the raids at businessman Piyush Jain's residence in Uttar Pradesh's Kannauj.

The Directorate of Revenue Intelligence (DRI) has been roped after the Directorate General of GST Intelligence (DGGI) recovered approximately 23 kg of gold from the factory premises of Kanpur-based businessman Piyush Jain on Monday.

UP IT Raid, Piyush Jain: Tax raids on Uttar Pradesh businessman Piyush Jain, who is part of the perfume industry, have so far recovered Rs 194.45 crore in cash and 23 kg in gold, the Directorate General of GST Intelligence (DGGI) said Monday.

Kanpur businessman Piyush Jain has been arrested for evasion ofGoods and Services Tax.

Directorate General of GST Intelligence (DGGI) Ahmedabad has recovered Rs 10 crore more cash from the factory and residence of perfume businessman Piyush Jain, promotor of Odochem Industries of Kannauj district in Uttar Pradesh, official sources said

GST is fast becoming the commercial backbone of this country and the government is making necessary changes required to support the businesses

With tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country aspiring to become the world's favourite investment destination.

The GST Council has not recommended bringing petroleum products under the reformed taxation regime even as certain representations have been made to the government to include petrol and diesel in GST, Parliament was informed on Tuesday.

GST revenue in November marked second consecutive month of revenue collection above Rs 1.3 lakh crore.

Approximately Rs 52,000 crores of Goods and Services Tax compensation was due to the states till September 2021, government has said

Such services when provided through any e-commerce platform would become taxable at five per cent effective January 1, 2022.