18 Oct 2023 06:18 PM
New

MNCs sent tax notices over expat employees' allowances from foreign parent companies

Source: https://www.livemint.com/industry/mncs-sent-tax-notices-over-expat-exployees-allowances-from-foreign-parent-companies-11697606105948.html

Multinational corporations (MNCs) operating in India are facing tax demands from goods and services tax (GST) authorities, affecting approximately 1,000 foreign subsidiaries, Business Standard reported quoting sources. The tax demands, issued in recent weeks, pertain to an 18 percent tax on salaries and allowances paid to foreign expats by their overseas parent companies, it added.

17 Oct 2023 05:17 PM
New

Goa (Recovery of Arrears of Tax, Interest, Penalty, Other Dues through Settlement) Act, 2023

Source: https://taxguru.in/goods-and-service-tax/goa-recovery-arrears-tax-interest-penalty-dues-settlement-act-2023.html

Goa (Recovery of Arrears of Tax, Interest, Penalty, Other Dues through Settlement) Act, 2023

The Goa (Recovery of Arrears of Tax, Interest, Penalty, Other Dues through Settlement) Act, 2023 (Goa Act 34 of 2023) (hereinafter referred to as the “GRATIPOS Act”) has been notified vide Notification No. 7/30/2023-LA dated 08/09/2023 published in Official Gazette, Extraordinary No. 3, Series I dated 08/09/2023.

17 Oct 2023 05:08 PM
New

Dabur gets GST demand notice of ₹320.6 crore

Source: https://www.livemint.com/companies/dabur-gets-gst-tax-demand-notice-of-rs-320-6-crore-11697536687898.html

FMCG major Dabur has received a Goods and Service Tax (GST) demand notice of ₹320.6 crore, a regulatory filing stated on October 17, adding that the company is reviewing the intimation and evaluating the next steps in this matter.

16 Oct 2023 06:09 PM

Life insurance firms consider 30% cap on commissions for credit life policies

Source: https://www.livemint.com/insurance/life-insurance-firms-consider-30-cap-on-commissions-for-credit-life-policies-11697436128731.html

Life insurance companies are on the verge of reaching an agreement to enforce a 30 percent cap on commissions paid to corporate agencies, including banks and non-banking financial companies (NBFCs), for credit life policies, as per reports.

16 Oct 2023 06:05 PM

Delta Corp shares hit 52-week low as company's subsidiary receives GST notice; stock down 30% in less than a month

Source: https://www.livemint.com/market/stock-market-news/stock-market-today-delta-corp-shares-hit-52-week-low-share-falls-30-after-first-gst-notice-in-september-2023-11697430684658.html

Stock market today: Delta Corp shares fell 10 percent on Monday after the company's subsidiary, Deltatech Gaming Limited, received a Goods and Services Tax (GST) notice for payment of ₹6,384 crore owing to tax shortfall. The stock hit a 52-week low of ₹126 apiece.

16 Oct 2023 06:16 PM

Foreign giants on notice: Govt expects ₹2,000 crore revenue surge from GST compliance

Source: https://www.livemint.com/companies/news/foreign-giants-on-notice-govt-expects-rs-2-000-revenue-surge-from-gst-compliance-11697430903945.html

The Goods and Services Tax (GST) authorities have sent notices to a bunch of foreign companies such as Facebook, Google, Netflix and Spotify, to ensure compliance with new GST regualtions, Business Standard reported.

14 Oct 2023 05:26 PM

Delta Corp gets another GST shortfall notice of ₹6,384 crore

Source: https://www.livemint.com/companies/delta-corp-gets-another-gst-shortfall-notice-of-rs-6-384-crore-11697280187108.html

Delta Corp has received fresh notices of alleged shortfall in the payment of Goods and Services Tax (GST) to the tune of ₹6,384 crore, as per a regulatory filing made by the casino chain operator on October 14.

14 Oct 2023 05:23 PM

GST on water takes a political twist

Source: https://www.livemint.com/politics/gst-on-water-takes-a-political-twist-11697126595363.html

New Delhi: Congress Party president and parliamentarian Mallikarjun Kharge on Thursday alleged in a social media post addressed to Prime Minister Narendra Modi that his government has levied 18% GST on water from the river Ganga, considered holy by millions of Indians.

13 Oct 2023 04:45 PM

GSTN Enables Unregistered Suppliers to Enroll for E-commerce Goods Supply

Source: https://taxguru.in/goods-and-service-tax/facility-enrolment-supply-goods-e-commerce-operators-gst-un-registered-suppliers.html

The Goods and Services Tax Network (GSTN) has introduced a new facility that allows unregistered suppliers to enroll for the supply of goods through e-commerce operators (ECOs). This development comes in response to recent amendments to the Central Goods and Services Tax (CGST) Act, exempting certain suppliers from mandatory GST registration when supplying goods through ECOs. Here’s an overview of the process and conditions that unregistered suppliers must meet to take advantage of this enrollment opportunity.

13 Oct 2023 04:39 PM

GST on water takes a political twist

Source: https://www.livemint.com/politics/gst-on-water-takes-a-political-twist-11697126595363.html

New Delhi: Congress Party president and parliamentarian Mallikarjun Kharge on Thursday alleged in a social media post addressed to Prime Minister Narendra Modi that his government has levied 18% GST on water from the river Ganga, considered holy by millions of Indians.