The Central Board of Excise and Customs, through a notification on February 12, has slashed the duty on both the variants of motorcycles imported as completely build units (CBU) to 50 per cent.
The mop-up could have been much higher, but tax on imports fell 2 per cent y-o-y.
Rather than going through the tedious, hit-or-miss process of physically designing hull forms and superstructures for warships and then determining how visible they are to radar, the company will simulate this process on supercomputers.
Experts said this will mean that companies, which have offices in multiple states, will have to raise Goods and Services Tax invoice for functions performed by employees in head office that has helped branches in other states.
GST revenue for the month of June stood at Rs 92,849 crore, a 2 per cent increase over the same month a year ago, the Finance Ministry said on Tuesday. The gross GST revenue collected in the month of June 2021 stands at Rs 92,849 crore of which central GST is Rs 16,424 crore, state GST Rs 20,397, Integrated GST Rs 49,079 crore (including Rs 25,762 crore collected on import of goods) and cess is Rs 6,949 crore (including Rs 809 crore collected on import of goods), the ministry said. The GST revenues for the month of June 2021 are 2 per cent higher than Rs 90,917 crore collected in June 2020.
The new restriction will be challenging for businesses, as they will have to do regular follow-ups with their suppliers.
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
The total revenue earned by central government and state governments after regular settlement in December was Rs 43,851 crore for CGST and Rs 46,252 crore for SGST.
The Supreme Court collegium headed by Chief Justice D Y Chandrachud on Thursday recommended the transfer of seven high court judges to different high courts in the country.
Anupam Kher hosted a special screening of his new film Uunchai, also starring Amitabh Bachchan, Boman Irani, Danny Denzongpa, Parineeti Chopra, Neena Gupta and Sarika.
In signs of acceleration in economic activity, India's tax collections on goods sold and services rendered returned to over Rs 1 lakh crore in July after the second wave of Covid-related restrictions caused a blip in the previous month. Goods and Services Tax (GST) mop-up grew 33 per cent year-on-year in July to over Rs 1.16 lakh crore, indicating that the economy is recovering at a fast pace. In July 2020, the collection was Rs 87,422 crore. This is the second highest collection so far this fiscal after a record Rs 1.41 lakh crore mop-up in April.
The celebrities offer their condolences.
The high court's order, which says refunds paid on service inputs can be restricted, runs contrary to Gujarat HC verdict and could complicate matters.
Since its rollout 13 months ago, the new indirect tax has yielded Rs 1 trillion only in in April 2018
GST collections in March slipped below the psychological Rs 1 lakh crore-mark for the first time in four months to Rs 97,597 crore as the Covid-19 lockdown that shut most businesses compounded tax collection woes in an already sluggish economy. Goods and Services Tax (GST) mop-up in March recorded a 8.4 per cent decline over March 2019 collection of Rs 1.06 lakh crore. The collections were lower on account of dip in revenues from domestic transactions as well as imports.
Bollywood grieves for Krishna Raj Kapoor.
Suspended Jharkhand IAS officer Pooja Singhal was paid "commission" by subordinate staff from MGNREGA funds of Khunti district which she and her husband subsequently utilised for acquiring various properties, the Enforcement Directorate (ED) claimed in a statement on Wednesday.
Low in calories, this is a speedy midweek meal for two.
GST collections in March touched a record high of over Rs 1.23 lakh crore, a 27 per cent growth over the year-ago period, the Finance Ministry said on Thursday. "GST revenues crossed above Rs 1 lakh crore mark at a stretch for the last six months and a steep increasing trend over this period are clear indicators of rapid economic recovery post pandemic," the ministry said. Closer monitoring against fake-billing, deep data analytics using data from multiple sources including GST, income tax and customs IT systems and effective tax administration have also contributed to the steady increase in tax revenue over last few months, it added.
The IWM BUZZ Digital Awards 2022 were presented on May 15 at the Taj Lands End, Mumbai.
Benoy Babu of Pernod Ricard and Sharath Reddy of Aurobindo Pharma have been arrested under sections of the PMLA.
The Delhi high court on Friday sought a status report from the police in relation to the alleged attack outside the residence of Delhi Chief Minister Arvind Kejriwal earlier this week and said that an "element of fear" was sought to be created by the "unruly crowd" and the police force at the spot was "inadequate" and "outnumbered".
Sheetal Jain worked with Amitabh Bachchan for 40 years.
Ranjita Ganesan and Nikita Puri chronicle the journey of Abhishek Poddar, one of India's leading art patrons.
The e-invoicing system will be rolled out in a phased manner from January 1 on a voluntary and trial basis, beginning with firms with a turnover of Rs 500 crore, while businesses with a turnover of Rs 100 crore or more will be required to do it from February 1.
Pulse oximeters, hand sanitisers, temperature check equipment and ambulances too will attract lower 5 per cent tax.
The collections stood at Rs 98,202 crore in the month, against Rs 1.02 trillion in July. The figures indicate continuation of economic slow down which was reflected in the gross domestic product (GDP) growth which plummeted to a 25-quarter low of 5 per cent in the first quarter of 2019-20, experts said.
The states which achieved "extraordinary growth" in total taxes collected include Kerala (44 per cent), Jharkhand (20 per cent), Rajasthan (14 per cent), Uttarakhand (13 per cent) and Maharashtra (11 per cent), an official statement said.
Tax experts said historically in July and August indirect tax collections remain subdued and pick up with the onset of the festive season post Ganesh Chaturthi.
Despite a steady collection rate, the government faces a steep Budget target of Rs 6.1 trillion for CGST for 2019-20.
All roads led to Yash Raj Studios on May 25, as Bollywood's power couples and their friends celebrated Karan Johar's 50th birthday party.
Rediff.com Contributing Photographer Pradeep Bandekar captures glimpses of the stars over the weekend.
Karisma and Kareena Kapoor's cousin Armaan Jain got married to long-time girlfriend Anissa Malhotra on February 3.
The revenue collection in the same month a year ago stood at Rs 94,442 crore.
The Enforcement Directorate (ED) has arrested Aam Aadmi Party communication in-charge Vijay Nair and businessman Abhishek Boinpally in connection with its ongoing money laundering probe into the Delhi Excise policy that was scraped following corruption allegations, official sources said Monday.
Construction costs would be reduced to some extent and this benefit can be passed on to the customers, thereby spurring home buying
A roundup of the Vijay Hazare Trophy one-day matches played on Tuesday.
Domestic giants Mumbai on Thursday broke the world record for highest margin of victory in the history of first-class cricket as they crushed minnows Uttarakhand by a staggering 725 runs on the fourth day of their Ranji Trophy quarter-final.
Mumbai's Yashasvi Jaiswal and Armaan Jaffer to put Uttar Pradesh on the back-foot by taking their overall lead past the 600-mark
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances