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After its launch, the GST rates have been modified multiple times, the latest being on 10 May 2023 where taxpayer with over ₹5 crore turnover in any financial year from 2017 to 2018 shall issue e-invoices w.e.f. 1 August 2023. [23] Members of the Congress boycotted the GST launch altogether. [24]
The Central Board of Indirect Taxes & Customs (CBIC) is headed by a chairperson and consists of six members. [2]Chairperson - Sanjay Agarwal, IRS; Member (Customs) - Rajiv Talwar, IRS (C & IT 1988) [3]
In the 2017-2018 financial year (i.e. 1 April 2017 to 31 March 2018), the IRS (IT) received 5,87,13,458 returns [8] and collected direct taxes amounting to ₹11.37 trillion, [9] spending ₹ 60,000 (equivalent to ₹ 91,000 or US$1,000 in 2023) for every ₹ 1,000 (equivalent to ₹ 1,500 or US$17 in 2023) it collected. [10]
Nonetheless, tax evasion is a massive problem in India, ultimately catalyzing various negative effects on the country. In 2023–24, the Direct tax collections reported by CBDT were approximately ₹ 1,900,000 crore (equivalent to ₹ 21 trillion or US$250 billion in 2023). [4]
India has an Internet user base of about 690.0 million as of November 2023, about 40% of the population. [1] Despite being the second-largest user base in world, only behind China (1.079 billion, 48% of population), the penetration of e-commerce is low compared to markets like the United States (266 million, 84%), or France (54M, 81%), but is growing, adding around 6 million new entrants every ...
The Fifteenth Finance Commission was constituted by the Government of India, after the approval from the President of India, through a notification in the Gazette of India in November 2017. [ 7 ] [ 8 ] Nand Kishore Singh was appointed as the commission's chairman, with its full-time members being Shaktikanta Das and Anoop Singh and its part ...
The remaining two headliners, Arctic Monkeys, headlining for the third time, and Guns N' Roses, making their Glastonbury debut, were announced on 3 March 2023, alongside an initial slate of artists. [ 3 ] [ 4 ] Yusuf / Cat Stevens was also revealed as the Legends slot performer, having been personally selected by festival founder Michael Eavis .
2023 Maldivian presidential election. Maldivians vote for a president. No candidate receives a 50% majority, so incumbent President Ibrahim Mohamed Solih will face opposition candidate and Malé mayor Mohamed Muizzu in the second round on September 30. Sports. 2023 WTA Tour. 2023 US Open