It will act as a nodal agency for inter-departmental coordination relating to investigation and enforcement agencies and conduct research and studies to monitor and ascertain modus operandi of evasion.
IATA chief Alexandre de Juniac also flagged various concerns about the Indian aviation sector, including high jet fuel prices, infrastructure woes and privatisation of airports.
As per the Bureau of Outreach and Communication under the ministry, the “expenditure on GST advertisements through this bureau” on print media stood at Rs 1,26,93,97,121.
The ministry attributed the reasons for decline in GST revenue collections to seasonal factors as well as a probable deferment of purchases by consumers after rate cuts were announced by the GST Council on July 21, which were to be effective from July 27.
The revenues collected in August are slightly lower than July collection of Rs 96,483 crore, and June collection of Rs 95,610 crore.
Vijay Ratnakar Gutte was arrested on August 2 by the Directorate General of Goods and Services Tax Intelligence (DGGI) for an alleged Goods and Services Tax (GST) fraud of at least Rs 34 crore.
Revenue shortfall concerns and issues being faced by micro, small and medium enterprises (MSMEs) dominated the 29th meeting of the GST Council. The Council approved a six-member ministerial panel, headed by Minister of State for Finance Shiv Pratap Shukla, to look into the issues of MSMEs.
A ministerial panel headed by Bihar deputy chief minister Sushil Modi today approved the proposal for incentivising digital payments through Rupay card and BHIM app by way of a cash back.
It is a sad commentary on experts when they allow their prejudices to dominate what they say.This holds true for their underestimations of GST revenues.
According to court documents, VRG Digital Corp has also wrongly claimed a cash refund of Rs 28 crore from the government against CENVAT (Central Value Added Tax) credit received for these fake invoices since July 2017.
As of July 31, 2018, the total amount of Integrated GST (IGST) refund claims disposed by CBIC is Rs 29,829 crore, taking the disposal rate to 93 per cent.
Speaking at the National Seminar on GST, organised by ASSOCHAM, Gulati said, “If we see GST revenues, the average growth year after year is only about 2 per cent. That is a bit of a worry for both the states and the Centre.”
Samsung expects that the decision will fuel demand in the upcoming festive season. As per the GST notification, the new duty slabs is effective from July 27.
The 29th GST Council meeting, to be held on August 4, will discuss issues faced by the micro, small and medium enterprises (MSME) and ways to solve their problems.
The problem surfaced as the GST rate was higher when the order was placed and was subsequently reduced when the delivery of product was made to the consumer.