Siddaramaiah, Shivakumar on 2-day visit to Delhi
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Time of India
42 minutes ago
- Time of India
UPI data: GST Council may grant amnesty to small vendors, says central tax commissioner
Bengaluru: The GST Council could consider granting amnesty from interest and penalties to small vendors who have been issued tax notices based on UPI transaction data, according to Kotraswamy M, commissioner of central taxes. "If this issue is being flagged because there are so many taxpayers, the GST Council can take a call, giving amnesty to them from interest and penalty. So, there is a solution rather than making it a political issue," he said at an awareness and grievance redressal seminar organised by Rotary Bangalore, JP Nagar. The official's statement comes after chief minister Siddaramaiah's assurance that only traders with a turnover exceeding Rs 40 lakh on goods would be scrutinised, and old dues will not be enforced if vendors register for GST going forward. You Can Also Check: Bengaluru AQI | Weather in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru Kotraswamy acknowledged discomfort and confusion caused by the GST notices among small business owners, attributing it to a lack of digital literacy and awareness. "Maybe their digital education is not adequate, they are not aware and feel that something bad has happened," he said, adding that once they know what they are supposed to do, they will find nothing wrong with the notices. The tax official also emphasised the importance of understanding legal requirements for businesses. "The transactions are captured in some way - digitally or through banking transactions, UPI or whatever. If somebody provided services with an annual turnover of more than Rs 20 lakh, or goods worth more than Rs 40 lakh, they are supposed to register themselves," he explained. Amrita Ranjan, principal commissioner of income tax, Bengaluru, confirmed that the department will continue to identify cases of tax violations. "... When the code works, it will work on a threshold and we will identify the cases," she added. BOX: What rules say It is mandatory for businesses with annual sales of Rs 40 lakh or more for supply of goods, and Rs 20 lakh or more for the supply of services, to register for GST. The Union govt also made it clear that it is not planning to levy GST on UPI transactions exceeding Rs 2,000, the finance ministry clarified in the Rajya Sabha last week after confusion caused by notices issued based on UPI data. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
The Hindu
a day ago
- The Hindu
Naidu and Lokesh's Singapore visit aimed at safeguarding ‘ill-gotten wealth', alleges former Minister
Former Minister and YSR Congress Party (YSRCP) Anakapalli district president Gudivada Amarnath has levelled serious allegations against Chief Minister N. Chandrababu Naidu and IT Minister Nara Lokesh, claiming that their recent visit to Singapore was intended to protect their 'ill-gotten wealth' rather than attract investments for Andhra Pradesh. Addressing a press conference at the party office on Saturday, Mr. Amarnath alleged that, having failed to secure any substantial investments, the Chief Minister and his son fabricated a narrative accusing YSRCP supporters of sending emails to corporate companies, thereby obstructing investment flows into the State. He further claimed that the Singapore government was reluctant to engage with Andhra Pradesh due to the past record of corruption associated with Mr. Naidu and Mr. Lokesh. 'What tangible investments have they brought in following their trip?' he questioned, alleging that for the past two to three days, Mr. Lokesh has failed to answer this and is instead attempting to divert public attention by making baseless allegations against Y.S. Jagan Mohan Reddy and the previous YSRCP government. Criticising the present government's performance, Mr. Amarnath said that many industrialists are hesitant to invest in the State after witnessing one year of Mr. Naidu's rule and what he described as 'atrocities' by NDA leaders. He also questioned the silence of Ministers such as Narayana and T.G. Bharat, who accompanied the delegation, and asked why Deputy Chief Minister Pawan Kalyan was not included in key international visits to Davos or Singapore. He accused Mr. Naidu of harbouring an 'obsession with Singapore' since his previous tenure beginning in 2014. Referring to the Amaravati Capital Region Development project, Mr. Amarnath alleged that Mr. Naidu handed over a 58% stake to a Singapore consortium without any financial contribution from their side, while the Andhra Pradesh government, which invested ₹12,000 crore, was left with only a 42% stake. 'In the revenue share, Singapore companies were allotted 91.5%, while the State received a mere 8.5%. Is there a bigger scam than this?' he asked. Mr. Amarnath also demanded clarity on Mr. Naidu's alleged connections with former Singapore Minister S. Iswaran, who is currently facing charges in a corruption case. He asserted that several key infrastructure projects that Mr. Naidu promoted during the Singapore visit—including the Ramayapatnam, Mulapeta, and Machilipatnam ports, as well as the Adani Data Centre—were all initiated and advanced under the previous YSRCP government. He credited the prior administration's efforts, particularly Mr. Jagan's meetings at Davos, for bringing global companies such as ArcelorMittal to Andhra Pradesh. Additionally, Mr. Amarnath criticised the alleged handing over of prime government land in Visakhapatnam to private entities at throwaway prices. He cited the example of the Lulu Group, which was reportedly granted land on a 99-year lease at a rate of just ₹1.5 per sq. ft—an offer he claimed was unacceptable to the local populace. He concluded by demanding that the State government clarify its position on the future of the Visakhapatnam Steel Plant, amid growing concerns over its privatisation.
India.com
a day ago
- India.com
Karnataka Minister KJ George calls IT raids 'routine exercise', refuses link to smart meter contract, says there is no connection...
Karnataka's Minister for Energy KJ George New Delhi: In a major development, Karnataka's Minister for Energy KJ George refuted any connection between recent Income Tax department raids at a prominent tech park in Bengaluru and the state's smart meter initiative or the Bangalore Electricity Supply Company (BESCOM) and said that they were 'a routine regulatory exercise' related to IT filings and had nothing to do with any government project. In a firm statement issued via his official social media handle, the minister termed the allegations circulating in a section of the media as 'completely baseless, misleading, and politically motivated.' 'There is no connection whatsoever between the smart meter project or BESCOM and the Income Tax department's raids,' George said. 'I strongly condemn this attempt to mislead the public and draw false links to the Energy Department.' This comes after the Income Tax Department conducted surveys from July 28 to 30 at multiple locations connected to George and real estate tycoon Jitu Virwani of the Embassy Group, including Golflinks Software Park Private Limited in Bengaluru. KJ George Issues Statement: In view of the misinformation being circulated regarding myself and the companies under my chairmanship, purportedly in connection with the #SmartMeterInitiative and the #EnergyDepartment of the Government of Karnataka, we wish to issue the following clarification: The recent interaction with the #IncomeTax Department was a routine regulatory exercise solely pertaining to the verification of our companies' income tax filings. There is no connection whatsoever to any government project or department, including the #SmartMeter program or the #EnergyDepartment. Our teams extended full cooperation to the authorities during this scheduled compliance review, consistent with our long-standing commitment to transparency and adherence to the law. We categorically reject and strongly refute any speculative or misleading claims suggesting otherwise. We urge all concerned to exercise discretion and refrain from spreading or endorsing baseless allegations. BJP's Allegation: To recall, in March this year, the Bharatiya Janata Party alleged a massive Rs 15,568 crore scam in Karnataka's smart meter procurement process. The saffron camp accused the Siddaramaiah-led Congress government of favouritism and irregularities in the tendering process. Echoing this stance, Golflinks Software Park clarified in an official statement that the survey conducted under Section 133A of the Income Tax Act was routine in nature and 'has no connection to public officials, state government departments, BESCOM contracts, or smart meter-related matters.'
