The gross goods and services tax (GST) collection increased by 12 per cent year on year from April to December 2023, reaching Rs 14.97 lakh crore when compared to the previous year’s collection of Rs 13.40 lakh crore during the same period. The average monthly gross GST collection for the first nine months of this […]
Asian Paints revealed a tax demand of Rs 13.83 crore, accompanied by a penalty of Rs 1.38 crore, from the Deputy Commissioner of State Tax, Chennai, Tamil Nadu. Under the Central Goods and Services Tax Act, 2017, and corresponding regulations, the demand pertains to the additional tax on outward supplies and disallowance of Input Tax […]
Food delivery platform Zomato revealed on Sunday that it has been served with notices from tax authorities in Delhi and Karnataka regarding purportedly insufficient payment of goods and services tax in 2018, amounting to Rs 4.2 crore. Zomato, in a filing with stock exchanges, stated its intention to contest the tax demand notices and emphasised […]
A look into the headlines that caught the reader’s interest most in the year gone. India’s Ecommerce Logistics Market All Set To Witness Exponential Growth India’s logistics sector has emerged as a market differentiator, with an increasing emphasis on efficiency and visibility within the supply chain. Recently, India made significant progress on the World Bank’s […]
Zomato stocks caught up in the downward momentum on Thursday, after the GST authorities sent a show cause notice of nearly Rs 402 crore to the firm alleging the unpaid dues which were earned by levying delivery charges to the customers on behalf of delivery partners. The stocks plunged 2.5 per cent to Rs 124.05 […]
Footwear giant Bata India disclosed receiving a notice from the State Tax Officer, Anna Salai Assessment Circle, Chennai, stating a sum of Rs 60.56 crore. This notice, dated 27 December 2023, follows a final audit report issued on 25 December, concerning the 2018-19 financial year, as detailed in the filing to the bourses. The audit […]
As micro, small and medium enterprises (MSMEs) continue to ride the ecommerce wave, the Forum for Internet Retailers, Sellers and Traders (First) India, a division of India SME Forum (ISF) in a survey report has highlighted the challenges in the space and the need for policy reforms for a conducive ecosystem and collaboration between policymakers […]
In a regulatory filing on 28 December, 2023, prominent online food delivery platform Zomatohas stated that it has received a show cause notice (SCN) from the Goods and Services Tax (GST) office. The notice pertains to an alleged tax liability of Rs 401.7 crore, accompanied by interest and penalties, related to the collection of delivery […]
Good and Services Tax (GST) Revenue collection for November 2023 stands at Rs 1,67,929 lakh crore, recording the highest growth rate of 15 per cent Year-on-Year, an official statement issued by the Ministry of Finance said on Friday. The Finance Ministry said that gross GST collection crossed the Rs 1.60 lakh crore mark for the […]
India’s online gaming industry has received show-cause notices amounting to Rs 1 lakh crore say sources. The notices come even as the Industry has raised concerns on the applicable GST Rates. The government has asserted that a 28 per cent GST rate should have been in place starting from 1 October, as per the law. […]
