Clipped from: https://economictimes.indiatimes.com/news/economy/policy/new-gst-googly-gifted-ipl-tickets-are-no-longer-free/articleshow/92907738.cms Synopsis This would mean that any IPL franchise owner gifting complimentary tickets to its employees will have to cough up GST on the
Category: GST
*******UP AAR: Transfer of Lucknow Airport to Adani, transfer of going concern, does not attract GST – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/up-aar-transfer-of-lucknow-airport-to-adani-transfer-of-going-concern-does-not-attract-gst/article65643711.ece Gujarat AAR ruled on a similar line for Ahmedabad Airport too Transfer of business from Lucknow Airport by Airport Authority of India (AAI)
*****GST rate hike comes in effect from Monday: Here’s what will get costlier | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/gst-rate-hike-comes-in-effect-from-monday-here-s-what-will-get-costlier-122071500484_1.html From next week, many household items, hotels, and bank services among other things will get costlier From next week, many household items, hotels,
GST 2.0: Next stage of reform in the tax regime requires creating federal institutions | The Indian Express
Clipped from: https://indianexpress.com/article/opinion/columns/gst-2-0-next-stage-of-reform-in-the-tax-regime-requires-creating-federal-institutions-8029959/ It can bring together senior officers from the Centre and states in an institutional forum registered under the Society Act. This forum could
GST rate on pre-packaged, pre-labelled dairy & agri products notified – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/agri-business/gst-rate-on-pre-packaged-pre-labelled-dairy-agri-products-notified/article65640038.ece Loose sale continue to be exempted; room rent of ₹5,000 plus in hospital to attract GST Get ready to pay more not just
The GST experience has been largely positive – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/the-gst-experience-has-been-largely-positive/article65640783.ece It has led to greater formalisation of the economy. But the taxing of fuel must be sorted out owing to its inflationary impact
*GST: Consensus eludes GoM on online gaming, casino & horse racing – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/consensus-eludes-gom-on-online-gaming-casino-horse-racing/article65631887.ece Group of Ministers aims to submit final report before Aug 10 A Group of Ministers (GoM) on online gaming, casinos and horse-racing, in
*******Unhealthy tax – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/unhealthy-tax/article65632411.ece The GST on hospital rooms needs to be reviewed In the recently concluded 47th GST Council meeting, among the other decisions taken, a
*CBIC to issue SOP for GST summons to stop harassment of businesses | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/cbic-to-issue-sop-for-gst-summons-notices-to-stop-harassment-of-businesses-122071100271_1.html The new SOP will make officials more accountable and will also make the entire process transparent Central Board of Indirect Taxes and Customs
Major GST issues in real estate sector | The Financial Express
Clipped from: https://www.financialexpress.com/money/major-gst-issues-in-real-estate-sector/2591266/ GST was introduced with the sole purpose of easing out compliances and avoiding the cascading of taxes. However, the purpose somewhere appears to
Gaming GST Rates: GST on gaming and gambling: Don’t ‘game over’ before it has even begun – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-commentary/gst-on-gaming-and-gambling-dont-game-over-before-it-has-even-begun/articleshow/92812277.cms Synopsis Caught between a perception that online games are nothing but a rich man’s gambit that only whips up greed and promotes gambling,
*****Levying GST on games of skill can be tricky – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/levying-gst-on-games-of-skill-can-be-tricky/article65624518.ece The government must take a holistic approach, else revenues could fall and users may shift to unregulated foreign portals The Group of Ministers
An uncertain transition: As GST compensation ends, state governments need to be provided certainty of revenues | The Indian Express
Clipped from: https://indianexpress.com/article/opinion/columns/an-uncertain-transition-as-gst-compensation-ends-state-governments-need-to-be-provided-certainty-of-revenues-8021329/ If the government decides to step-up tax devolution to the states in the near term, it may reduce the size of state borrowings
GST: Five years and counting towards unity – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-commentary/gst-five-years-and-counting-towards-unity/articleshow/92788816.cms Synopsis The impact of GST is now visible in formalisation of enterprises, wider tax base and higher tax revenues. Small businesses, which were
*******GST 2.0 may be free of jurisdiction: Vivek Johri, chairman, CBIC – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/gst-2-0-may-be-free-of-jurisdiction-vivek-johri-chairman-cbic/articleshow/92733183.cms Synopsis New Delhi, which raised the import duty on gold recently, is not looking at any further administrative measures immediately to clamp down
*****GST: Mandatory e-invoicing for companies with Rs 5-crore sales from January | The Financial Express
Clipped from: https://www.financialexpress.com/economy/gst-mandatory-e-invoicing-for-companies-with-rs-5-crore-sales-from-january/2588108/ The tax authorities will also be able to better analyse the trends and availment of input tax credit across sectors and weed out
*Government clarifies perks will not attract GST – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/government-clarifies-perks-will-not-attract-gst/article65615565.ece However, experts maintain confusion still prevails The Government has clarified that perquisites provided by the employer to the employee in terms of a
*****Trade raises concern over GST on unbranded packaged rice – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/agri-business/trade-raises-concern-over-gst-on-unbranded-packaged-rice/article65616642.ece Unregistered but popular brands are the targets, says trade analyst A move by the Centre to impose 5 per cent Goods and Services
*****CBIC comes out with clearer framework to curb fake invoices – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/cbic-comes-out-with-clearer-framework-to-curb-fake-invoices/article65612098.ece The Central Board of Indirect Taxes & Custom (CBIC) has come out with a mechanism for clearer framework to curb fake invoices. This
*******Pre-packaged, pre-labelled food items to attract same rate of GST as branded, says CBIC Chief Johri – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/pre-packaged-pre-labelled-food-items-to-attract-same-rate-of-gst-as-branded-says-cbic-chief-johri/article65612458.ece New rates come into effect from July 18 Pre packaged and pre-labelled retail food items will attract GST rate at par with the