Clipped from: https://www.financialexpress.com/industry/sme/msme-eodb-cait-to-states-withdraw-5-gst-on-unbranded-food-items/2600745/ Ease of Doing Business for MSMEs: According to CAIT, 85 per cent of the country’s population buy unbranded items and hence, the decision
Category: GST
*Companies make over 25 kg packs to avoid 5% GST – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/cons-products/fmcg/companies-make-over-25-kg-packs-to-avoid-5-gst/articleshow/92989805.cms Synopsis The CBIC on Sunday clarified that pre-packaged food items weighing more than 25 kg in a single packet would be exempted from
Nirmala Sitharaman: FM Nirmala Sitharaman clarifies on GST rates on certain items, says decision taken to curb tax leakage – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/fm-nirmala-sitharaman-clarifies-on-gst-rates-on-certain-items-says-decision-taken-to-curb-tax-leakage/articleshow/92979224.cms Synopsis Finance Minister Nirmala Sitharaman on Tuesday took to Twitter to clarify the decisions taken by the GST Council in its 47th meeting.
*******GST on Rental Income of a Residential House Property given to a registered person
Clipped from: https://taxguru.in/goods-and-service-tax/gst-rental-income-residential-house-property-registered-person.html?utm_source=feedburner&utm_medium=email GST Impact on Rental Income of a Residential House Property has given to a registered person (Under GST) under GST Law w.e.f. 18.07.2022.
*****Indian handset makers get Rs 20,000 cr tax bill: Industry players call it retrospective tax | The Financial Express
Clipped from: https://www.financialexpress.com/industry/indian-handset-makers-get-rs-20000-cr-tax-bill-industry-players-call-it-retrospective-tax/2598234/ Industry players said the tax has been levied from 2017 onwards and termed it a retrospective tax. Along with the assembly panels come
*******GST changes from Monday may put pressure on retail inflation: Experts | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/gst-changes-from-today-to-put-pressure-on-retail-inflation-experts-122071800632_1.html Falling global commodity prices may neutralise the impact, say experts Retail price inflation moderated to 7.01 per cent in June, from 7.04 per
*******Single package of cereals, pulses, flour etc. weighing more than 25 kg not to attract GST – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/single-package-ofcereals-pulses-flour-etc-weighing-more-than-25-kg-not-to-attract-gst/article65653034.ece CBIC issues clarification on GST for pre-packaged commodity in a set of Frequently Asked Questions Central Board of Indirect Taxes & Custom (CBIC)
Changes proposed in disclosure of ITC in Table 4 of GSTR-3B–TAXGURU.IN
Clipped from: https://taxguru.in/goods-and-service-tax/proposed-disclosure-itc-table-4-gstr-3b.html?utm_source=feedburner&utm_medium=email After the introduction of GSTR-2B and auto population of figures in GSTR-3B, there has been greater accountability on the taxpayer to ensure that
*******Exempting pre-packed pulses, cereals, other food items above 25 kg from GST big relief for wholesalers: CAIT | The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/msme-eodb-exempting-pre-packed-pulses-cereals-other-food-items-above-25-kg-from-gst-big-relief-for-wholesalers-cait/2597422/ Ease of Doing Business for MSMEs: According to FAQs issued by CBIC on Sunday, only pre-packed and labelled food items such as pulses,
*******CBIC clarifies ambiguity on GST on pre-packaged items, new rates from Monday – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/cbic-clarifies-ambiguity-on-gst-on-pre-packaged-items-new-rates-from-monday/articleshow/92940746.cms Synopsis Also the clarification said that if several packages intended for retail sale to the ultimate consumer, say 10 packages of 10 Kg
*Pay 5% GST on pre-packed, labelled food items, hospital rooms above ₹5,000 from Monday – The Hindu
lipped from: https://www.thehindu.com/business/pay-5-gst-on-pre-packed-labelled-food-items-hospital-rooms-above-5000-from-monday-july-18-2022/article65650139.ece?homepage=true Hotel rooms with tariff of up to ₹1,000/day, maps and charts, including atlases, will attract a 12% GST File photo for representation. Hotel
*****Hospital room rent to become costlier as GST applicable from July 18 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/hospital-room-rent-to-become-costlier-as-gst-applicable-from-july-18/articleshow/92898194.cms Synopsis The Goods and Services Tax (GST) council in its last meeting held on June 28-29, 2022, decided to expand the tax base
*****Draft paper released on changes to GSTR-3B – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/draft-paper-released-on-changes-to-gstr-3b/articleshow/92907769.cms Synopsis The draft, approved by the GST Council in its 47th meeting held last month, has incorporated many recommendations by the industry such
*******New GST googly: Gifted IPL tickets are no longer free – The Economic Times
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
*******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
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