Currently, the price of one litre of petrol stands at Rs 91.17 per litre in Delhi, and diesel rates stand at Rs 8.47 per litre. In Mumbai, the price of petrol is Rs 97.57 per litre, and that of a litre of diesel is Rs 88.60 per litre

The officers of CGST Commissionerate have unearthed a network of fictitious firms which 'was being operated by one Vishal, who is an advocate by profession and was practising law in Karkardooma Court'

Congress' chief spokesperson Randeep Surjewala said the third quarter GDP data proves yet again that fault lines in the Indian economy are more visible than ever before

Indian shipping companies are subject to 5 per cent GST if an overseas consignor appoints them for import cargo transportation but if the consignor appoints a foreign shipping line for the same service, GST is not applicable as the shipping company is not registered in India

In his pre-recorded address for the sixth Governing Council virtual meeting of Niti Aayog, the senior Congress leader also proposed that states are consulted before deciding the priority list for COVID-19 vaccination

The finance ministry had on Friday released the 17th weekly instalment of Rs 5,000 crore to 23 states and three UTs taking the total amount released so far as part of the special borrowing window set up in October 2020 to Rs 1 lakh crore

The department has laid out norms for Qualified Institutional Party (QIP) intending to form a special purpose vehicle after the financial bid as well as companies, limited liability partnerships (LLPs), funds and individuals having stake in the bidding entity

In a letter to Union Finance Minister Nirmala Sitharaman, the Chhattisgarh CM has requested sanction of excise duty to Chhattisgarh as it was provided before to protect the state from financial loss

Till now, 86 percent of the total estimated GST compensation shortfall has been released to the states and Union Territories (UTs) with legislative assembly

GST officers arrest 4 persons in 3 fake cases of input tax credit of Rs 178 crore

The Central Board of Indirect Taxes and Customs (CBIC) has issued an SOP for suspension of registration of a person on the observance of such discrepancies/anomalies which indicate violation of the GST Act

The finance ministry said that so far, 81 per cent of the total estimated GST compensation shortfall has been released to the states & UTs with Legislative Assembly

On GST compensation, trust is lost. The Centre has cut central schemes in the name of reorganisation. They even cut our devolution, which is a constitutional right. They increased cess and surcharge, said West Bengal Finance Minister Amit Mitra

Through the use of extensive data analytics, officers of Delhi East GST were able to identify and unravel a network of 46 fake firms which were operating since 2017 and had passed on fake ITC to multiple of beneficiaries

Thakur says existing laws are inadequate to deal with issue of digital currencies, which is why Centre has formed an inter-ministerial panel, and now bill is being finalised before it'll be sent to Cabinet

Little attention to direct income support, health and education deprivations, and revival of small businesses will keep the demand and production of goods and services depressed in FY22

Economists, CEOs, consultants, sector specialists interpret Nirmala Sitharaman's 'Never-before' Budget

At the core of the Budget is the nominal GDP growth of 14.4 per cent which looks plausible with 10 per cent real GDP growth, India Ratings Chief Economist Devendra Pant and Principal Economist Sunil Kumar Sinha said in a note

In Budget'21, 51% of finances will come from borrowings and GST collections while interest payments, State's share of taxes and central sector schemes will account for bulk of the expenditure in 2021-22

Tax buoyancy, which describes the sensitiveness of tax revenue growth to changes in nominal GDP, is expected to touch 1.2 in FY22, marginally lower than 1.3 in FY21 (both tax revenues and GDP are projected to decline)