![GST simplified compliance, fake ITC generation still a challenge](https://cdn.magzter.com/1549608130/1719790873/articles/pU0hZr8O61719799985742/GST-SIMPLIFIED-COMPLIANCE-FAKE-ITC-GENERATION-STILL-A-CHALLENGE.jpg)
Rolled out on July 1, 2017, Goods and Services Tax (GST) streamlined 17 taxes and 13 cesses into a 5-tier structure, simplifying the tax regime.
The turnover threshold for registration rose to Rs 40 lakh for goods and Rs 20 lakh for services (up from Rs 5 lakh on average under VAT). GST also reduced 495 different submissions (challan, forms, declarations, etc) across states to just 12.
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India to have new head coach from SL series
COACH HUNT | BCCI secretary Jay Shah did not reveal the name
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Le Pen's party takes lead
FRENCH POLLS | National Rally led by 33 per cent of the vote
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Govt to keep expensive schemes off budget
DIRECTION AHEAD | Focus on infrastructure, Hindutva to be evident in State Budget to be tabled tomorrow
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Chhattisgarh registers two FIRs, one case
COLONIAL LEGACY ENDS | New Laws becomes effective
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School chairman, 4 others held
NEET SCAM | Dixit Patel is the fifth person held in the case
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Assam, Arunachal reel under heavy showers
NORTH-EAST FLOODS | 26% of camps in Kaziranga submerged
![NEET, natty: Rahul says exam designed for rich](https://reseuro.magzter.com/100x125/articles/19077/1751756/QML1P6W7r1719889109185/NEET-NATTY-RAHUL-SAYS-EXAM-DESIGNED-FOR-RICH.jpg)
NEET, natty: Rahul says exam designed for rich
IN PARLIAMENT | Oppn stages a walkout from the Lok Sabha as government refuses to assure debate on paper leak issue
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PV dispatches see muted growth in June as high base effect kicks in
Passenger vehicle wholesales saw a marginal growth of 4 per cent in June on account of high base effect and muted demand due to severe heatwave conditions in several parts of the country. Overall passenger vehicle dispatches last month stood at 3,40,784 units, a growth of 3.67 per cent compared with 3,28,710 units in June 2023.
![GST collection jumps 7.7% to â¹1.74 lakh crore in June](https://reseuro.magzter.com/100x125/articles/19077/1751756/YEalAY71v1719888884727/GST-COLLECTION-JUMPS-77-TO-174-LAKH-CRORE-IN-JUNE.jpg)
GST collection jumps 7.7% to â¹1.74 lakh crore in June
India's gross GST collection rose to Rs 1.74 lakh crore in June this year, which represents a 7.7 per cent increase over the same month last year, according to sources.
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Sensex, Nifty log new closing highs on gains in IT shares
Stock Markets: Stellar run in Indian stocks continues