Finance Finance Nirmala Sitharaman on Saturday chaired the 53rd meeting of the GST Council, at Bharat Mandapam. Minister of State for Finance, Chief Ministers of Goa and Meghalaya, Deputy Chief Ministers of Bihar, Haryana, Madhya Pradesh, and Odisha along with finance ministers of states & UTs (with legislature) also attended the meeting.
In its 2.0 avatar, the GST reform agenda is being dominated by demands for improving ease of doing business, effective dispute resolution, maximising impact by using GST data and optimising facilitation/compliance, streamlining the tax framework and focus on MSMEs. Amendment to overrule retrospective tax demands and offering an effective dispute resolution process are holding forth in industry, business and other stakeholder discourse ahead of the Budget to be presented in July which is expected to chart India's reform path for the next five years even as about 84 per cent of India Inc. in a Deloitte GST@7 survey express strong support for the GST implementation. As per the survey, confidence in the reform has significantly increased from 59 per cent in 2022 and 72 per cent in 2023 to 84 per cent in 2024.
The Global Trade Research Initiative data shows GST has become the world's largest platform for indirect taxes with over 1.46 crore registrations. In FY2024, GST collections reached Rs 20.18 lakh crore with 29.85 per cent from imports, 26.92 per cent from inter-state supplies and 43.23 per cent from within-state supplies.
"India Inc. has enhanced confidence in the workings and efficiency of the GST regime. Such positive sentiment is reflective of supply chain efficiencies, the benefits of tax, technology and continued stakeholder engagement on GST policy matters," says Mahesh Jaising, Partner and Leader, Indirect Tax, Deloitte India, echoing the call for progressive steps to take the regime to a new level.
Esta historia es de la edición June 23, 2024 de The Business Guardian.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición June 23, 2024 de The Business Guardian.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Ashok Tanwar's tryst with Cong
Ashok Tanwar's \"home coming\" must be a sweet music for both Sonia and Rahul Gandhi who have had special and personal bonding with the former Haryana Congress chief.
Delhi High Court Exempts Taxation Bar Association Members From Court Appearances Requirement: District Bar Associations Election
The Delhi High Court in the case Lalit Sharma & Ors.v. Union of India & Ors. observed and has exempted members of Taxation Bar Association from the Court appearance requirement.
SUPREME COURT: END CASTE-BASED ALLOTMENT OF WORK TO PRISONERS, DELETE CASTE COLUMN IN PRISON REGISTERS
The bench comprising of Chief Justice of India DY Chandrachud and Justice JB Pardiwala, Justice Manoj Misra was pronouncing the judgement wherein the Public Interest Litigation, PIL is filed by journalist Sukanya Shanta based on her article published in The Wire.
Govt Seeks To Recall High Court Order Asking Not To Deploy Punjab Police for Judge's Security, Says It Tarnishes Reputation Of The Force
The Punjab Government in the case Court On its Own Motion v.The State Of Punjab and Others has filed an application seeking recall of a Punjab & Haryana High Court order passed dated September 27, wherein the court directed not to deploy Punjab Police for security of a sitting High Court judge who exposed 'large-scale lapses which being on the part of investigating agencies' of Punjab and whose security was compromised in a recent incident.
Allahabad High Court: High Court Has No Power To Extend Limitation Period Or Condone Delay In Filing Of Election Petition RP Act 1951
The Allahabad High Court in the case Prahlad Singh vs.Yogesh Chaudhary observed that under the Representation of the People Act, 1951, it does not possess the power to extend the limitation period or condone delays in filing election petitions.
Supreme Court Directed States/UTs To Implement Centre's Guidelines On School Safety And Security
NEW DELHI The Supreme Court in the case Bachpan Bachao Andolan v.Union of India and Anr. observed and has directed all State Governments and Union Territories to implement the 'Guidelines on School Safety and Security, 2021' issued by the Union Government to fix responsibility of school management in order to protect children from natural disasters, health hazards, abuse, violence, and accidents.
Supreme Court Suggests, Better That State Transport Corporations Avail Third-Party Insurance
The Supreme Court in the case Bajaj Allianz General Insurance Company Private Ltd.v. Union of India, UOI & Ors observed and has suggested to the State Governments that the State Public Transport Corporations avail third-party insurance coverage in order to ensure that victims of the accidents caused by the State buses get timely compensation as per the Motor Vehicles Act, MV Act.
GOVT APPROVES RS 10,103 CRORE NATIONAL MISSION ON EDIBLE OILS-
According to the Minister of Information and Broadcasting, the mission aims to increase primary oilseed production from 39 million metric tonnes (2022-23) to 69.7 million metric tonnes by 2030-31.
MEA rubbishes USCIRF report on religious freedom in India
The MEA also urged USCIRF to desist from such \"agenda driven efforts\" and utilise time more productively on addressing human rights issues in the US.
IMD predicts rainy Durga Puja in Bengal
KOLKATA The India Meteorological Department (IMD) on Thursday released a special bulletin regarding the weather forecast for the Durga Puja festival in West Bengal.
