- 02 Oct 2023 05:48 PM
- New
GST collection hits ₹1.62 trillion in September
Central and state governments collected ₹1.62 trillion in goods and services tax (GST) in September, marking the fourth highest monthly collection since the inception of the indirect tax regime and a 10% annual growth from the year-ago period.
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- 02 Oct 2023 05:54 PM
- New
New tax rate on online money games kicks in
NEW DELHI : The new Goods and Services Tax (GST) regime of 28% tax on online money games, casinos and horse racing has kicked in from Sunday with Union government issuing orders on norms to be followed covering taxes to be collected by Centre and the Union Territories.
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- 02 Oct 2023 05:51 PM
- New
‘Online gaming GST order hits one nation, one tax spirit’
NEW DELHI : Online real-money gaming firms, and lawyers representing multiple companies in this sector, labelled the Centre’s way of implementation of the new goods and services tax (GST) rate on online gaming companies unprecedented. The stakeholders of the sector, which has remained under fire for numerous taxation issues through the year, claimed that the Centre’s notification of the new online gaming GST regime—done before all states have fully adopted it—could be used as a precedent for breaking the “one nation, one tax" format of GST going forward, and is also in contravention of the law.
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- 29 Sep 2023 06:51 PM
Advisory: Temporary/Short Period Pause in e-Invoice Auto Population into GSTR-1
Temporary Pause in e-Invoice Auto Population in GSTR-1: Important Advisory
In a recent development, the Goods and Services Tax Network (GSTN) has issued an advisory regarding a temporary pause in the auto-population of e-Invoice data into GSTR-1. This pause is a result of essential system upgrades aimed at enhancing the overall functionality of the GST ecosystem. In this article, we will delve into the details of this advisory and its implications for taxpayers.
- 29 Sep 2023 06:23 PM
GST officials seize assets worth ₹19 crore from BJP leader Pankaja Munde’s sugar factory in Beed
The Goods and Services Tax Commissionerate Monday seized assets worth ₹19 crore from Vaidyanath Co-operative sugar factory owned by BJP national secretary Pankaja Munde in Beed district of Maharashtra for not GST evasion on the sale of sugar.
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- 29 Sep 2023 06:27 PM
GST Council to meet on 7 October to iron out setting up of tribunals
According to an individual familiar with government discussions, the meeting is anticipated to be brief and is convened to examine specific technical details related to the establishment of the tribunals
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- 29 Sep 2023 06:30 PM
GST Council meet on Oct 7, review likely on implementation of SGST law amendments by states
A meeting of the GST Council is scheduled to be held on October 7. The Council is likely to review the progress with regard to implementation of amendments in the SGST law by different states.
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- 29 Sep 2023 06:33 PM
Revenue loss still a road block to fuel GST
NEW DELHI : Petroleum products are unlikely to be brought under the Goods and Services Tax (GST) anytime soon, as doing so can cause states’ fiscal deficit to balloon, while also widening revenue losses for the Centre, two senior government officials told Mint.
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- 29 Sep 2023 06:35 PM
Hard luck for angels
Source: https://www.livemint.com/opinion/quick-edit/hard-luck-for-angels-11695751729303.html
Closing tax loopholes is challenging but necessary. Levying goods and services tax on betting platforms and revising India's 'angel tax' help prevent tax evasion.
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- 29 Sep 2023 06:45 PM
ICICI Lombard gets show-cause notice for non-payment of ₹1,728.80 crore in GST
In August, too, ICICI Lombard had received a notice for non-payment of ₹273.4 crore in taxes along with interest.
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