Besides selling movable and immovable assets to make recoveries, taxmen filed prosecution cases against those not paying the demand.
The panel decided to omit the reverse charge mechanism (RCM) clause from the GST law under which registered taxpayers buying from unregistered taxpayers have to deposit the GST.
The central government wants to impose the levy; many states are opposed - at least, to the Centre doing so
After helping the government in policymaking since October 2014, Chief Economic Adviser Arvind Subramanian is returning to academics and will be teaching at Harvard Kennedy School on a visiting position. In an interview to Dilasha Seth and Somesh Jha, he says the ease of doing business agenda needs to move forward and India must try to integrate with the global value chains. Edited excerpts.
GSTN is planning a disaster recovery drill and hence services will not be available for 12 hours, between 9am and 9pm, on July 1, and has requested the taxpayers to plan GST-related activities on the portal accordingly.
Reaching a consensus might also get tougher, as already seen with issues like inclusion of natural gas in GST and imposition of a sugar cess, both central proposals being resisted.
The ambiguity arose after notices were sent to lenders for non-payment of service tax under the pre-GST regime
Experts point out that National Anti-profiteering Authority does not have the power to advise companies on depositing amounts voluntarily.
India studied the Malaysian model, which was scrapped on Wednesday, before implementing the GST and borrowed the anti-profiteering clause to ensure GST benefits are passed on to the end-consumer by the industry
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
The recommendation to slash duty was made by the Bharatiya Janata Party to ease retail prices of petrol and diesel.
Market leaders in this line of business - New India Assurance and Tata AIG - have begun to reassess the premium on risk exposure of their portfolio in the director's and officer's liability business.
Currently, companies are taxed in the jurisdictions in which they have a physical presence. However, digital businesses generate revenues from markets without a significant physical presence in a country.
The case goes back to 2014, where the diamond merchant had pleaded guilty, though indirectly, for mis-declaration of exports of diamonds.
The GST Council on Saturday is expected to extend the date for IGST exemption and cess on imports
Additional solicitor-general says extra-neutral alcohol liable to new tax
The GoM will meet on Saturday to finalise single-stage, simplified, return filing under the GST; report will be placed before GST Council on March 10.
The Rs 11,400 crore PNB fraud saga unfolded after a bribery complaint by the Hong Kong branch of an Indian bank.
There is a large population standing outside the coverage of primary healthcare, says Praveen Gupta of Raheja QBE.
The views were asked for by the law ministry as part of a Cabinet note on the subject.
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