- 21 Jul 2023 06:13 PM
- New
Appeal to Review the GST Council’s Decision on Online Gaming Taxation
The recent decision by the GST Council to tax online gaming at par with lottery and gambling has sparked controversy and criticism. This Representation by CAIT delves into the catastrophic implications of this change, including its impact on the online gaming industry, employment, and offshore competition. It highlights the inconsistencies with the government’s efforts to regulate and grow the sector, and calls for a review of the decision to protect the Indian Online Gaming industry.
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- 21 Jul 2023 06:22 PM
- New
GST Council Newsletter for the month of June 2023
Source: https://taxguru.in/goods-and-service-tax/gst-council-newsletter-month-june-2023.html
Six years after the rollout of the biggest indirect tax reform of India, the consistent monthly revenue of Rs 1.5 lakh crore from the Goods and Services Tax (GST) has established itself as the new normal. India implemented the Goods and Services Tax (GST) on July 1, 2017, marking a significant milestone in tax reform. This comprehensive initiative merged various distinct tax jurisdictions, different tax levies, and multiple types of cess and surcharges governed by eight constitutional entries into a unified system.
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- 21 Jul 2023 06:25 PM
- New
Request to Abolish GST Reverse Charge Mechanism
Source: https://taxguru.in/goods-and-service-tax/request-abolish-gst-reverse-charge-mechanism.html
In this letter, the Advocates’ Tax Bar Association addresses the Hon’ble Finance Minister to request the abolishment of the Reverse Charge Mechanism (RCM) for registered dealers, except for Government Organizations and NGOs. The RCM has been causing unintended consequences and hardships for businesses, hindering growth, and fostering corruption.
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- 20 Jul 2023 05:29 PM
Three small but effective ideas to help small businesses
The youth should aspire to be job givers, not just job seekers. Who gave this clarion call? Most would guess that it was our Prime Minister, during his electoral campaign of 2014. But it was not just him.
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- 20 Jul 2023 05:35 PM
Revving for the Youth: Thrilling 2.75L sports bike launched exclusively for minors! But here's the catch…
CRA Motorsports introduces the Atom GP1 race bike, designed for young riders aged 10-17, priced at ₹2.75 lakh + GST. The bike is exclusively for track use and features a 159.3 cc engine, custom-built frame, and sleek body shell made of fiberglass.
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- 19 Jul 2023 05:23 PM
No GST for free part change in warranty
Source: https://www.livemint.com/news/india/no-gst-for-free-part-change-in-warranty-11689697917659.html
CBIC clarified that the head office has the option to distribute among branch offices the credit for taxes paid on common services procured by it.
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- 18 Jul 2023 06:21 PM
28% GST on online gaming: Rajeev Chandrasekhar says will go back to GST Council to review
India's Minister of State for Electronics and Information Technology, Rajeev Chandrashekhar, has said that the ministry will ask the GST Council to reconsider the decision to impose a 28% tax on funds collected by online gaming companies
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- 18 Jul 2023 06:25 PM
Rajeev Chandrasekhar says will request GST Council to reconsider 28% tax on online gaming
Chandrasekhar said that the GST Council, which was a federal body had been working on the issue for the past three years while the regulatory framework for online gaming only began in January 2023
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- 18 Jul 2023 06:28 PM
Delta Corp up 2.5% Nazara Tech up 2% on GST on online gaming rethink
Shares of Nazara Technologies and Delta Corp rise as the GST Council plans to review its decision to impose a 28% tax on online gaming. The ministry of electronics and IT will ask for a reevaluation of the tax after the regulatory framework for online gaming rules is developed.
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- 18 Jul 2023 06:31 PM
Free replacement of parts under warranty not liable to GST: CBIC
If any additional amount is charged by the manufacturer from the customer for parts replacement or for service, then GST is be payable on such sale on the additional payment
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