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    1. Business News
    2. Authors
    3. sumit jha

    Sumit Jha

    The CBIC member added that GST Act provides for various methods by which the proper tax officer can recover any amount which is payable to the government.
    Delayed GST payments: Unpaid interest alone stands at Rs 46,000 crore

    The last date for filing GSTR-3B for any month is 20th of the subsequent month; an annual interest of 18%…

    By Sumit Jha
    February 13, 2020 06:15 IST
    Vivad se Vishwas, Note ban, personal income tax disputes, Vivad Se Vishwas scheme, Income Tax Act, PAN holders, post-demonetsation
    Vivad se Vishwas: Note ban cases to add over Rs 2.5 lakh crore to Income Tax disputes

    Govt hopes a section of people with unexplained cash deposits might use Vivad Se Vishwas to escape costlier route of…

    By Sumit Jha
    February 6, 2020 06:19 IST
    That could result in a decline of at least Rs 50,000 crore in Centre's net tax receipts
    Budget 2020: Rs1-lakh-crore shortfall in tax receipts likely

    Budget 2020 India: Also, the GST collections seem to be rising (January mop-up was about Rs 1.11 lakh crore, the…

    By Sumit Jha
    February 5, 2020 05:15 IST
    Mody said that the revised estimates for direct tax collection were realistic, adding he felt pretty confident of meeting the target based on the information flows from third party as well as reporting entities.
    Bolstered tax data to improve revenue collection, says CBDT chief Pramod Chandra Mody

    Explaining the proposed ‘taxpayer charter’ proposed in the Budget, Mody said that it would provide statutory recognition to administrative framework…

    By Sumit Jha
    February 5, 2020 04:45 IST
    Budget 2020 India, Budget 2020-21
    Budget 2020: New income tax regime will appeal to most, says revenue secretary

    Union Budget 2020 India: Pandey said it was difficult to estimate how many taxpayers would switch to the new regime…

    By Sumit Jha
    Updated: February 3, 2020 05:30 IST
    Budget 2020: Amnesty to net a tidy sum in FY 20 itself

    Budget 2020 India: Given that the indirect tax scheme appealed mostly to smaller taxpayers in the cost-benefit analysis, the same…

    By Sumit Jha
    Updated: February 2, 2020 03:52 IST
    Budget 2020: Big tax shortfall in FY 21, GST shortfall likely to boost receipts

    Budget 2020-21: On the personal income tax front, the government has cut the RE by only about Rs 9,500 crore…

    By Sumit Jha
    Updated: February 2, 2020 03:43 IST
    Budget 2020: Not just changes in tax slabs, Modi govt may unveil amnesty scheme for taxpayers

    Budget 2020-21: The relief was 60% of the outstanding amount if it was Rs 50 lakh or less and 40%…

    By Sumit Jha
    Updated: January 27, 2020 06:16 IST
    FICCI president, fiscal deficit target, Sangita Reddy, Apollo Hospitals, RBI, GDP, GST for healthcare
    Centre should infuse Rs 1.5-2 lakh crore into the economy: FICCI president Sangita Reddy

    Reddy, who is also the joint managing director of Apollo Hospitals, has batted for a higher Budget allocation, at least…

    By Prasanta Sahu
    January 16, 2020 06:15 IST
    The waiver, effective January 1, is aimed at incentivising digital payments and is in sync with the policy objective of moving towards a less-cash economy. (Representative image)
    MDR waiver: Govt turns down banks’ compensation demand, know why

    MDR charges were earlier charged by banks subject to a cap of 0.60% of card-based transactions for payments over Rs…

    By Sumit Jha
    January 12, 2020 00:54 IST
    Sabka Vishwas Tax, Amnesty, Sabka Vishwas Tax Amnesty Scheme, Big taxpayer, legal fight, Sabka Vishwas scheme 
    Sabka Vishwas Tax Amnesty Scheme: Big taxpayers stick to legal fight

    Over 87% of 1.8 lakh eligible taxpayers applied for the leniency scheme by Monday, according to officials. The government had…

    By Sumit Jha
    Updated: January 10, 2020 06:41 IST
    GST, GST Network, GST collection, GST Council, GST revenue, 15th Finance Commission, Arun Jaitley, GDP growth rate
    States facing GST trouble? Buffer data tell different story

    States posted barely 8% revenue growth from relevant taxes in FY14-FY17 against 14% assured in GST regime

    By Sumit Jha
    January 3, 2020 05:04 IST
    GST woes: Nearly 250 Star Export Houses denied refunds

    FIEO has estimated that about 5,000 relatively small exporters have been red-flagged so far which account for about 7% of…

    By Sumit Jha
    December 30, 2019 06:09 IST
    Loyalty & Sacrifice: How values of loyalty can apply to business

    The author, however, manages to dissect these facets to reveal the underlying dynamic of loyalty and sacrifice.

    By Sumit Jha
    December 29, 2019 06:12 IST
    Rampant GST evasion? Gap between ITC claimed, suppliers’ data foxes taxman

    An analysis by the goods and services tax (GST) department showed that as much as 39% or Rs. 2.5 lakh…

    By Sumit Jha
    December 20, 2019 06:22 IST
    Major rejig of GST slabs unlikely for now

    Several states against rates overhaul; cess, rates on some items may go up.

    By Sumit Jha
    December 16, 2019 06:21 IST
    GST evasion, GST, ecommerce portals, Amazon, Flipkart, TCS data, Amit Mitra, Form GSTR-9, GSTR-9C, ITC
    GST evasion? Rampant under-reporting of online sales detected

    Sales shown by vendors in monthly returns far lower than that computed from TCS data

    By Sumit Jha
    December 10, 2019 06:20 IST
    GST Council, GST revenue, Sushil Modi, GST Act, gst tax revenues, SGST revenue growth
    GST Council may use cess route to boost revenue

    Levy on demerit goods to rise, cess may be imposed on a few other items as well

    By Sumit Jha
    Updated: December 9, 2019 07:43 IST
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