Indirect Tax On Fuels

Tax officers have detected around 10,700 fake registrations under the GST, involving evasion of Rs 10,179 crore in the ongoing all-India drive against fake companies set up to defraud the exchequer, a senior official said on Tuesday. Central Board of Indirect Taxes and Customs (CBIC) member Shashank Priya said Aadhaar authentication of GST registration is already in place in 12 states and by October 4, another four states would join. Eventually, 20 states, including Madhya Pradesh, Rajasthan, Assam, Tamil Nadu, Uttar Pradesh and Haryana, will start Aadhaar authentication. Speaking at an Assocham event, Shashank Priya also said that in future, the tax authorities may also put certain restrictions on new taxpayers based on their risk profile. "How many invoices they can issue in a month, we may also put some restriction on that in the future... We feel very pained at the misuse of the system. We have to use all methods that are at our command to ensure that those are stopped," he ...

At its seventh fortnightly review, the government hiked the tax on the export of ATF to Rs 5 per litre from Rs 3.50

The windfall taxes were imposed in July and will only be removed if the price of oil falls below $70-75 per barrel

Punjab would like to help the Centre in any way possible to deal with the coronavirus disease (Covid-19) pandemic, said state Finance Minister Manpreet Singh Badal

It could be one critical reason why the road to fuels under GST bumpy