GST Fraud Of Rs 400 Crore Involving Special Economic Zone Units Detected

The Directorate General of GST Intelligence has unearthed a scam in which exporters from the National Capital Region (NCR) allegedly availed Goods and Services Tax refund of Rs 400 crore in connivance with units in Gujarat's Kandla Special Economic Zone, an official said on Tuesday.

Punjab Chief Minister Amarinder Singh on Sunday hit out at Union minister Harsimrat Kaur Badal, calling her a "compulsive liar" while reacting to the allegations that Punjab government reneged on its commitment of refunding its share of the GST charged on purchases made for langar (community kitchens) by the Shiromani Gurdwara Parbandhak Committee

Sanjeev K Nayar, General Manager, ITC WelcomHeritage said that the Council's decision to lower GST on room tariffs 'will certainly increase occupancy'.

The GST council has not announced any rate cuts on the passenger vehicles and that means there will be no change in the price of cars and bikes.

Exemption from the GST has been given to imports of specified defence goods that are not manufactured in India.

The Finance Minister has announced reduction in the corporate tax rate to 22 per cent from 30 per cent, while new manufacturing companies or companies which are making fresh investments from October 2019 will be taxed at 15 per cent which is a big boost to Make in India for sure but also a incentive to invest in the country.

Bibek Debroy said GST collection has been revenue negative so far instead of being revenue neutral.

Each public sector bank will conduct an outreach programme aimed at taking advantage of the festive season, the Finance Minister said.

The Centre on Wednesday said it will certainly take up the issue of "hefty" GST on hotel rooms' tariff in the meeting of its council as it impacts the tourism industry.

Currently GST at the rate of 28% is charged on hotel rooms with tariffs over Rs 7,500 and 18% on rooms which are priced between Rs 2,500-7,500.

ACT Fibernet has launched new gaming packs for its users in India. It is initially offering two packs – A-Game Basic and A-Game Ultra.

India's goods and services tax (GST) panel is unlikely to approve lowering the tax for the auto and allied components sector this week, as a study has warned of major revenue losses, two government officials said.

Bangalore-based Ather Energy has discontinued its entry-level 340 electric scooter. The company took to its social media channels to announce the development and the scooter has also been delisted from the company's website as well. Explaining the decision, the manufacturer said that the Ather 340 had dismal demand over the flagship 450. The latter grabbed 99 per cent...

The GST Network has also decided to complete online refunding from September 24 from the central GST or the state GST.