NEW DELHI: The Madras HC has stayed a GST demand of about Rs 80 crore on salary paid by Hyundai Motors to seconded employees. The company had challenged the December 23, 2023 tax demand notice from the GST authorities, which had considered the entire salary amount paid to seconded employees as taxable. Secondment, a common … Read more
New Delhi: India’s economy started the fourth quarter on a strong note, National Council of Applied Economic Research (NCAER) said in its monthly economic review, Wednesday. NCAER noted that high frequency indicator like Purchasing Managers’ Index and Goods and Services Tax collection indicated a resilient economy with services accelerating and manufacturing gaining momentum. “The markers … Read more
The federal government’s carbon price could generate more than $5 billion from the federal sales tax over the next seven years, but none of that is directly earmarked for climate programs. The latest figures come from the parliamentary budget officer and are based on a private member’s bill introduced last fall by Conservative MP Alex … Read more
The goods and services tax, the bankruptcy code, PM-Kisan — key economic initiatives India has seen over the past 10 years. The last decade has also been marked by big social interventions, beginning with the financial inclusion drive launched soon after the NDA came to power in 2014. The results of these measures will serve … Read more
New Delhi: Bajaj Auto is developing a portfolio of CNG motorcycles, and the first such bike will hit the market next fiscal under a new brand, Bajaj Auto Executive Director Rakesh Sharma said on Wednesday. The company wants the government to consider lowering GST on such CNG bikes — which will serve as a bridge … Read more
New Delhi: Tyre maker CEAT Ltd on Wednesday said it has received GST demand and penalties totalling over Rs 19 crore from tax authorities in Maharashtra and Vadodara. The Additional Commissioner, CGST & Central Excise, Vadodara has issued an order for an interest of Rs 3.27 crore along with a penalty of Rs 13.68 crore … Read more
New Delhi: GST officers have been given more time to issue demand notices for discrepancies in annual returns for 2018-19 and 2019-20 financial years. On Thursday, the government extended the deadline in this regard for 2018-19 fiscal to April 30, 2024 and for 2019-20 fiscal to August 31, 2024. A notification has been issued by … Read more
