https://www.business-standard.com/economy/interviews/imposing-28-gst-on-entire-face-value-a-unanimous-decision-revenue-secy-123071200964_1.html Clipped from: https://www.business-standard.com/economy/interviews/imposing-28-gst-on-entire-face-value-a-unanimous-decision-revenue-secy-123071200964_1.html “I don’t think that the demand for these vehicles is so ‘elastic’ that a small tax change could impact the market drastically”
Category: GST
Amendment for online gaming, casinos, horse racing not retrospective, just clarificatory:Revenue Secretary – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/amendment-for-online-gaming-casinos-horse-racing-not-retrospective-just-clarificatoryrevenue-secretary/article67072773.ece Clipped from: https://www.thehindubusinessline.com/economy/amendment-for-online-gaming-casinos-horse-racing-not-retrospective-just-clarificatoryrevenue-secretary/article67072773.ece GST rates on online gaming, casinos, and horse racing were always 28% and 28% were always on the face value: Revenue Secretary
Mechanism to provide level playing field between domestic, foreign online gaming companies, says Revenue Secretary – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/mechanism-to-provide-level-playing-field-between-domestic-foreign-online-gaming-companies-says-revenue-secretary/article67072653.ece Clipped from: https://www.thehindubusinessline.com/economy/mechanism-to-provide-level-playing-field-between-domestic-foreign-online-gaming-companies-says-revenue-secretary/article67072653.ece New Group of Ministers on Rate Rationalisation will be reconstituted soon, says Sanjay Malhotra Revenue Secretary Sanjay Malhotra on Wednesday said the
Exempt small suppliers making inter-state supplies on E-commerce from GST registration: GTRI | The Financial Express
https://www.financialexpress.com/industry/sme/msme-eodb-exempt-small-suppliers-making-inter-state-supplies-on-e-commerce-from-gst-registration-gtri/3164761/ Clipped from: https://www.financialexpress.com/industry/sme/msme-eodb-exempt-small-suppliers-making-inter-state-supplies-on-e-commerce-from-gst-registration-gtri/3164761/ Ease of Doing Business for MSMEs: The GST Council has already exempted small businesses that make intra-state supplies through e-commerce platforms from
GST Council may have erred in its policy on gambling – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/editorial/gst-council-may-have-erred-in-its-policy-on-gambling/article67071723.ece Clipped from: https://www.thehindubusinessline.com/opinion/editorial/gst-council-may-have-erred-in-its-policy-on-gambling/article67071723.ece The 28 per cent GST on betting amount will add to the existing burden of commission/fee payable to the facilitator, and if
GST Council okays 28% tax on online gaming, casinos and horse racing
https://www.business-standard.com/economy/news/gst-council-okays-28-tax-on-online-gaming-casinos-and-horse-racing-123071101097_1.html Clipped from: https://www.business-standard.com/economy/news/gst-council-okays-28-tax-on-online-gaming-casinos-and-horse-racing-123071101097_1.html To be levied on full face value; effective roll-out after amendments to GST law Finance Minister Nirmala Sitharaman with Revenue Secretary Sanjay
28 per cent GST an existential threat, say online gaming companies – The Hindu BusinessLine
https://www.thehindubusinessline.com/news/28-per-cent-gst-an-existential-threat-say-online-gaming-companies/article67068569.ece lipped from: https://www.thehindubusinessline.com/news/28-per-cent-gst-an-existential-threat-say-online-gaming-companies/article67068569.ece The decision will lead to lakhs of job losses: The All India Gaming Federation chief Online gaming companies have reacted strongly to
Uniform 28% GST on full face value of casino, online game, horse race bets – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/uniform-28-gst-on-full-face-value-in-online-gaming-casino-horse-racing/article67068855.ece Clipped from: https://www.thehindubusinessline.com/economy/uniform-28-gst-on-full-face-value-in-online-gaming-casino-horse-racing/article67068855.ece The Council recommended that amendments be made in the law to include online gaming and horse racing in Schedule III as taxable
GST Council meeting: Onus of deducting TCS may be on ONDC sellers
https://www.business-standard.com/finance/news/gst-council-meeting-tcs-liability-might-be-on-seller-app-on-ondc-123070900515_1.html Clipped from: https://www.business-standard.com/finance/news/gst-council-meeting-tcs-liability-might-be-on-seller-app-on-ondc-123070900515_1.html Tuesday’s GST Council meet likely to put out clarification Photo via @ONDC_Official on Twitter Listen to This Article The Goods and Services
IBA urges Centre to reduce GST on carbonated fruit drinks – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/iba-urges-centre-to-reduce-gst-on-carbonated-fruit-drinks/article67064678.ece lipped from: https://www.thehindubusinessline.com/economy/iba-urges-centre-to-reduce-gst-on-carbonated-fruit-drinks/article67064678.ece Currently, carbonated fruit drinks attracts 40 per cent GST including 12 per cent compensation cess The Indian Beverage Association (IBA) has urged
New GST rules on anvil; biz may have to explain discrepancy in ITC claims – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/new-gst-rules-on-anvil-biz-may-have-to-explain-discrepancy-in-itc-claims/article67060015.ece Clipped from: https://www.thehindubusinessline.com/economy/new-gst-rules-on-anvil-biz-may-have-to-explain-discrepancy-in-itc-claims/article67060015.ece GST Council is likely to take a final call on the recommendation of the Law Committee in its 50th meeting on July
E-way bill generation declines in June, may impact GST collection in July – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/e-way-bill-generation-declines-in-june-may-impact-gst-collection-in-july/article67060067.ece Clipped from: https://www.thehindubusinessline.com/economy/e-way-bill-generation-declines-in-june-may-impact-gst-collection-in-july/article67060067.ece E-way bills are electronic documents generated for the movement of goods and payment of taxes. E-way bill generation came down to 8.60
GST mechanism for online gaming, casinos & horse racing to dominate the proceedings – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/gst-mechanism-for-online-gaming-casinos-horse-racing-to-dominate-the-proceedings/article67062932.ece Clipped from: https://www.thehindubusinessline.com/economy/gst-mechanism-for-online-gaming-casinos-horse-racing-to-dominate-the-proceedings/article67062932.ece The 50th GST Council meeting will also discuss the taxability of MUV and TCS liability in e-commerce trading The GST Council, in
GSTN to get info from FIU about suspicious forex transaction by GST assessee – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/gstn-to-get-info-from-financial-intelligence-unit-about-suspicious-forex-transaction-by-gst-assessee/article67057364.ece lipped from: https://www.thehindubusinessline.com/economy/gstn-to-get-info-from-financial-intelligence-unit-about-suspicious-forex-transaction-by-gst-assessee/article67057364.ece This move has been initiated under section 66 of PMLA which prescribes sharing of information by officers responsible for enforcement of the
GST officers bust 304 syndicates involving Rs 25k cr fake ITC claims
https://www.business-standard.com/finance/personal-finance/gst-officers-bust-304-syndicates-involving-rs-25k-cr-fake-itc-claims-123070100411_1.html lipped from: https://www.business-standard.com/finance/personal-finance/gst-officers-bust-304-syndicates-involving-rs-25k-cr-fake-itc-claims-123070100411_1.html The chief of the Central Board of Indirect Taxes and Customs (CBIC) flagged that only 40 per cent of the corporate income
gst on cancer drug: GST Council likely to exempt IGST on cancer drug import, fix 5% tax on refreshments served in multiplex – The Economic Times
https://economictimes.indiatimes.com/news/economy/policy/gst-council-likely-to-exempt-igst-on-cancer-drug-import-fix-5-tax-on-refreshments-served-in-multiplex/articleshow/101553225.cms Clipped from: https://economictimes.indiatimes.com/news/economy/policy/gst-council-likely-to-exempt-igst-on-cancer-drug-import-fix-5-tax-on-refreshments-served-in-multiplex/articleshow/101553225.cms Synopsis Besides, import of medicines and Food for Special Medical Purposes (FSMP) used in the treatment of rare diseases for personal use
Stricter tax regime for tobacco, pan masala could be in phases
https://www.business-standard.com/economy/news/gst-council-to-review-stricter-tax-regime-for-pan-masala-tobacco-in-phases-123070700787_1.html Clipped from: https://www.business-standard.com/economy/news/gst-council-to-review-stricter-tax-regime-for-pan-masala-tobacco-in-phases-123070700787_1.html No consensus yet on retail sale price-based levy on some items However, it couldn’t be ascertained whether the issues cited are with
Universal e-invoice an ideal situation but difficult to set a timeframe, says CBIC Chief Vivek Johri – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/universal-e-invoice-an-ideal-situation-but-difficult-to-set-a-timeframe-says-cbic-chief-vivek-johri/article67049772.ece Clipped from: https://www.thehindubusinessline.com/economy/universal-e-invoice-an-ideal-situation-but-difficult-to-set-a-timeframe-says-cbic-chief-vivek-johri/article67049772.ece In an interview with businessline, Vivk Johri, Chairman of CBIC, says rate rationalisation exercise is “challenging” especially when collection is good Vivk
Tighter GST returns filing likely if there is tax credit mismatch
https://www.business-standard.com/economy/news/tax-credit-mismatch-gst-council-may-tighten-tax-return-filing-system-123070600963_1.html Clipped from: https://www.business-standard.com/economy/news/tax-credit-mismatch-gst-council-may-tighten-tax-return-filing-system-123070600963_1.html Cases to be scrutinised if tax credit mismatch is over 20% Experts are of the view that the proposed move could increase
GST Council Meeting: GST Council to discuss scope of budgetary support for units in hilly states
https://www.business-standard.com/economy/news/gst-council-to-discuss-scope-of-budgetary-support-for-units-in-hilly-states-123070500875_1.html Clipped from: https://www.business-standard.com/economy/news/gst-council-to-discuss-scope-of-budgetary-support-for-units-in-hilly-states-123070500875_1.html The 50th GST Council meeting is scheduled to take place on July 11 in New Delhi Listen to This Article The Goods
