20 Jan 2023 06:17 PM
New

Longer wait for GST tribunals with Council yet to clear proposals

Source: https://www.livemint.com/news/india/longer-wait-for-gst-tribunals-with-council-yet-to-clear-proposals-11674150136634.html

NEW DELHI : Businesses may have to wait longer for quicker resolution of Goods and Services Tax (GST)-related disputes under the proposed appellate tribunals, as the Finance Bill 2023 is expected to skip crucial amendments needed in this regard.

20 Jan 2023 06:24 PM
New

Representation for one-time relaxation in time limit for filing of GST appeal

Source: https://taxguru.in/goods-and-service-tax/representation-one-time-relaxation-time-limit-filing-gst-appeal.html

Request to issue special one-time relaxation for cases where the time limit for filing of appeal u/s 107 of the CGST/SGST Act is expired and no appeal has been filed and to increase the period of condonation of a delay from one month to one year.

19 Jan 2023 05:23 PM
New

Gaming cos hope for tax relief

Source: https://www.livemint.com/companies/start-ups/gaming-cos-hope-for-tax-relief-11674055031675.html

NEW DELHI : The Indian gaming industry, which includes real money gaming, esports and fantasy sports, is pushing for a status quo or even lower tax regime in the Union budget.

19 Jan 2023 05:40 PM

End of GST compensation to jolt six states most, says RBI

Source: https://www.livemint.com/news/india/end-of-gst-compensation-to-jolt-six-states-most-says-rbi-11674061417768.html

BENGALURU : The economies of half-a-dozen states are set to be “most severely affected" because of the termination of the goods and services tax compensation programme in June last year, a Reserve Bank of India report on state finances said.

19 Jan 2023 05:44 PM

PGCIL drops second InvIT tranche plan

Source: https://www.livemint.com/industry/energy/pgcil-drops-second-invit-tranche-plan-11674062800103.html

NEW DELHI : State-run Power Grid Corp. of India Ltd (PGCIL) has dropped plans for its second infrastructure investment trust (InvIT) tranche in the current fiscal under the government’s National Monetisation Pipeline (NMP), and is instead exploring monetising receivables from specific projects by securitising their cash flow, said two people aware of the development.

16 Jan 2023 05:36 PM

CBIC gives clarification on GST on SUVs

Source: https://www.livemint.com/industry/cbic-gives-clarification-on-gst-on-suvs-11673666784489.html

NEW DELHI: The Central Board of Indirect Taxes and Customs (CBIC) on Friday issued a set of instructions to senior field officers clarifying the tax and cess rates applicable on items like sports utility vehicles (SUVs) as decided by the Goods and Services Tax (GST) Council in December.

16 Jan 2023 05:40 PM

No GST on incentives to banks for promoting RuPay debit cards: CBIC

Source: https://www.livemint.com/news/india/no-gst-on-incentives-to-banks-for-promoting-rupay-debit-cards-cbic-11673671084181.html

New Delhi: No Goods and Service Tax (GST) is applicable on the incentives paid by the government to banks for promoting RuPay debit cards and low value BHIM-UPI transactions, the Central Board of Indirect Taxes and Customs (CBIC) has said.

16 Jan 2023 05:43 PM

Budget 2023: 'Would like govt to rationalise GST on insurance products'

Source: https://www.livemint.com/money/personal-finance/budget-2023-would-like-govt-to-rationalise-gst-on-insurance-products-11673599625503.html

The government can look at GST rationalization on insurance products making it more affordable and attractive, wherein a reduction on GST can lead to increasing the insurance net, thereby not impacting the government collections, said Abhay Tewari, Managing Director & CEO, Star Union Daiichi Life Insurance.

16 Jan 2023 05:46 PM

GST not applicable to these BHIM-UPI transactions, check details

Source: https://www.livemint.com/news/india/gst-not-applicable-to-these-bhim-upi-transactions-check-details-11673767001779.html

The Goods and Services Tax (GST) will not apply to government incentives given to banks to encourage use of RuPay debit cards and low-value BHIM-UPI transactions, as per the finance ministry. A ₹2,600-crore incentive programme for banks to promote RuPay debit cards and low-value BHIM-UPI transactions in the current year was approved by the Cabinet last week.

16 Jan 2023 05:53 PM

Live Course on Refund of Input Tax Credit Under GST – Detailed Analysis

Source: https://taxguru.in/goods-and-service-tax/live-refund-input-tax-credit-gst-detailed-analysis.html

As we all know working capital plays a critical role in the functioning of a business. Processing of timely GST refunds will help your businesses and facilitate trade through the release of blocked working capital funds. In order to provide solution to the various REFUND related issues, we have come up with an integrated lecture series on the same. In those series we will cover complete provisions related to refunds with live practical examples and relevant case studies. Upgrade your knowledge with respect to the items treated as claimable or non-claimable, documentation and various other Sections, Sub Sections and rules of Various types of REFUND of Input Tax Credit under GST.