GST Payment for E-Commerce Businesses: Challenges and Solutions
Oct 04, 2023, at 02:00 am
In the realm of e-commerce, GST Payment represents a significant aspect that businesses need to handle efficiently. The introduction of the Goods and Services Tax (GST) in India marked a revolutionary tax reform aiming to subsume multiple indirect taxes into a unified system. However, for e-commerce businesses, it has brought along its own set of challenges. This article will dive deep into these challenges and introduce you to feasible solutions to significantly ease the process.
Online real money gaming companies served Rs 55,000 cr GST demand notice: Report
Sep 27, 2023, at 06:44 pm
New Delhi: The Directorate General of GST Intelligence (DGGI) has issued approximately a dozen pre-show cause notices to online real money gaming (RMG) companies for goods and services tax dues totaling around Rs 55,000 crore, ET reported.
LIC gets notice to pay Rs 290 cr GST with interest and fine
Sep 23, 2023, at 03:26 am
New Delhi: The Life Insurance Corporation of India (LIC) has received an order under the BGST and CGST Act 2017 from the Additional Commissioner State Tax of Bihar, demanding Rs 290 crore in goods and service tax, along with interest and penalty, ET reported.
GST collection moves up 11 pct in August
Sep 01, 2023, at 11:06 pm
Goods and services tax (GST) collection rose 11% year-on-year (YoY) to Rs 1,59,069 crore in August 2023, according to data released by Finance Ministry on Friday.
28% GST on online gaming: GST Council agrees to review after 6 months of implementation
Aug 03, 2023, at 05:58 am
New Delhi: Finance Minister Nirmala Sitharaman on Wednesday announced the decision to implement 28% GST on the full face value of bets placed on online games, horse racing, and casinos.
July GST collection grows 11% YoY to Rs 1,65,105 crore
Aug 02, 2023, at 04:46 am
New Delhi: The gross GST revenue collected in July stood at Rs 1,65,105 crore, up 11% higher than the GST revenues in the same month last year, the Ministry of Finance said on Tuesday.
Monthly avg gross GST collection for FY22 & FY23 grew 30% and 22% Y-o-Y respectively
Aug 01, 2023, at 05:56 am
New Delhi: The monthly average gross GST collection for the FYs 2021-22 & 2022-23 have shown 30% and 22% year-on-year growth respectively.
GST Council decides to levy 28 pc tax on online gaming, casinos and horse-racing
Jul 12, 2023, at 10:58 pm
New Delhi: The all-powerful GST Council chaired by Union Finance Minister Nirmala Sitharaman on Tuesday decided to impose 28% tax on online gaming, horse racing and casinos.
GST Council Meet: 28% GST to be levied on online gaming, horse racing, casinos
Jul 12, 2023, at 05:30 am
New Delhi: The Group of Ministers (GoM) attending the 50th GST Council Meeting on Tuesday reached a decision to impose a 28 percent Goods and Services Tax (GST) on the entire value of online gaming, horse racing, and casinos.
Jul 12, 2023, at 05:09 am
New Delhi: In an effort to combat fake and fraudulent registrations under the Goods and Services Tax (GST) system, the GST Council has proposed several amendments to the CGST Rules, 2017.
May GST collection grows 12% YoY to Rs 1,57,090 cr
Jun 02, 2023, at 03:20 am
New Delhi: The gross Goods & Services Tax (GST) revenue collected in the month of May stood at Rs 1,57,090 crore, the finance ministry said on Thursday.
Rs. 1,60,122 crore gross GST revenue collected for March 2023: Govt data
Apr 01, 2023, at 10:46 pm
New Delhi: The gross GST revenue collected in the month of March 2023 is Rs. 1,60,122 crore of which CGST is Rs. 29,546 crore, SGST is Rs. 37,314 crore, IGST is Rs. 82,907 crore (including Rs. 42,503 crore collected on import of goods) and cess is Rs. 10,355 crore (including Rs. 960 crore collected on import of goods).
GST revenue grows 12 pc in Feb to Rs 1.49 lakh cr, cess collection at record high
Mar 01, 2023, at 09:41 pm
New Delhi: Reflecting growth momentum in the economy, gross goods and services tax (GST) collection rose 12 per cent year-on-year to Rs 1,49,577 crore in February, 2023.
Centre will clear entire GST compensation dues: Nirmala Sitharaman
Feb 19, 2023, at 02:24 am
New Delhi/IBNS: The government will clear the GST compensation, including the entire pending balance of Rs 16,982 crore for June 2022 due as of Saturday, Finance Minister Nirmala Sitharaman said.
Feb 09, 2023, at 08:49 pm
Mumbai/IBNS: Amid reports of a raid by the Himachal Pradesh State Excise Department on a unit of the Adani Group in Parwanoo late Wednesday, the firm said in a statement on Thursday that “the officials did not find any irregularities in the operations and dealings conducted by the company.”
Feb 01, 2023, at 06:28 am
Bengaluru/IBNS: The government can bolster working capital for e-commerce suppliers by lowering GST on input services like logistics and facilitating refunds of accumulated input tax credit in the upcoming Budget, according to Vidit Aatrey, Founder & CEO – Meesho.
Feb 01, 2023, at 06:05 am
MumbaiIBNS: A lower GST on appliances will help improve the penetration levels in India which remains low despite the positive impact on the quality of life and productivity, according to Kamal Nandi, Business Head and Executive Vice President of Godrej Appliances.
Gross GST collection in December up 15 pc YoY
Jan 01, 2023, at 11:23 pm
New Delhi: The gross GST collection registered an increase of 15 per cent year-on-year (YoY) to Rs 1,49,507 crore in December 2022, government data released on Sunday showed.
GST Council decides to decriminalise certain offences, no tax rate increase
Dec 17, 2022, at 10:43 pm
New Delhi: In a significant move to facilitate trade, the GST Council chaired by Finance Minister Nirmala Sitharaman on Saturday decided to decriminalise certain offences and doubled the threshold for launching prosecution to Rs 2 crore under GST.
Centre releases Rs. 17,000 crore of GST compensation to States/UTs
Nov 25, 2022, at 10:29 pm
New Delhi: The Central Government released an amount of Rs. 17,000 crore to States/UTs on 24.11.2022 towards the balance GST compensation for the period April to June, 2022.
Sept GST collection rises to Rs 1.52 lakh cr
Nov 02, 2022, at 04:04 am
India's GST collection rose to Rs 1.52 lakh crore in Goods and Services Tax (GST) in September, the second-highest ever collection, according to the finance ministry said on November 1.
GST collection Rs 1.48 lakh cr in September
Oct 01, 2022, at 10:04 pm
New Delhi: The Goods and Services Tax (GST) collection rose 26 per cent year-on-year in September to Rs 1,47,686 crore, indicating continued revenue buoyancy on the back of economic recovery and anti-evasion measures.
Gross Direct Tax collections for Financial Year 2022-23 register a growth of 30 pct
Sep 19, 2022, at 01:01 am
New Delhi: Gross Direct Tax collection moved up by 30 percent to stand at Rs. 8,36,225 till Sept 17, as per data released on Sunday.
Kotak Mahindra Bank Completes its Integration for GST Payment
Aug 06, 2022, at 05:20 am
Kolkata: Private sector lender Kotak Mahindra Bank Limited (KMBL) Friday announced the completion of its integration with the GST portal.
GST collection in July surges 28 percent to touch Rs 1,48,995 crore
Aug 01, 2022, at 08:56 pm
New Delhi: The gross Goods and Services Tax (GST) collection in the month of July 2022 rose by 28 per cent year-on-year to touch Rs 1,48,995 crore.
CBIC clarifies ambiguity on GST on prepackaged goods
Jul 18, 2022, at 10:25 pm
New Delhi: The government has issued clarifications on the imposition of 5 percent GST on pre-packaged and labelled food items such as pulses and cereals containing a quantity up to 25 kg.
June GST collection jumps 56 pc YoY to Rs 1,44,616 cr
Jul 02, 2022, at 03:51 am
New Delhi: India's GST collection in June jumped 56 percent on an annual basis to Rs 1.45 lakh crore compared to Rs 1.4 lakh crore in May, Finance Minister Nirmala Sitharaman said Friday.
Pre-packed labelled food brought under GST
Jun 29, 2022, at 04:59 am
New Delhi: The GST Council has accepted the recommendations of a group of ministers from states on withdrawing exemptions with a view to rationalising the tax.
90 pc businesses feel GST broke barriers, made doing business easy: Deloitte Survey
Jun 16, 2022, at 03:13 am
New Delhi: Contrary to the opposition against the GST regime, 90 percent of Indian industry leaders feel that GST has made doing business easier as it removed barriers across the country, a Deloitte survey said on Wednesday.
Centre clears entire GST compensation due till date to states
Jun 01, 2022, at 03:40 am
New Delhi: The Government of India on Tuesday said it has released the entire amount of GST compensation payable to states up to 31st May, 2022 by releasing an amount of Rs.86,912 crores.