11 Jul 2023 07:32 PM
New

50th GST Council meeting today: Here's what is expected to become cheaper and dearer

Source: https://www.livemint.com/economy/50th-gst-council-meeting-today-heres-what-is-expected-to-become-cheaper-and-dearer-11689040872454.html

The 50th GST Council meeting: Items that may become cheaper include F&B inside cinema halls and medicines, while online gaming, casinos, and horse racing may become dearer. MUVs and XUVs may also become more expensive.

11 Jul 2023 07:38 PM
New

Bringing GST under PMLA could lead to tax terrorism

Source: https://www.livemint.com/opinion/online-views/bringing-gst-under-pmla-could-lead-to-tax-terrorism-11689057890128.html

On July 8 the Indian government amended provisions of the Prevention of Money Laundering Act (PMLA) to allow the Enforcement Directorate and the Financial Intelligence Unit to share information with the GST Network.

10 Jul 2023 05:36 PM
New

GSTN geocodes 1.8 crore addresses of registered businesses

Source: https://www.livemint.com/news/india/gstn-geocodes-1-8-crore-addresses-of-registered-businesses-11688746089836.html

This geocoding would help in finding out the exact location of the registered entity and check bogus registrations.

10 Jul 2023 05:39 PM

GST Council aims to close gold loophole

Source: https://www.livemint.com/news/india/gst-council-to-finalize-rules-for-transporting-gold-and-precious-stones-worth-2-lakh-or-more-to-prevent-tax-leakages-11688752033351.html

Shipping gold, precious stones above ₹2L may need e-way bills

10 Jul 2023 05:42 PM

Government brings Goods & Services Tax Network under PMLA,

Source: https://www.livemint.com/news/india/government-brings-goods-services-tax-network-gstn-under-prevention-of-money-laundering-act-pmla-11688833907204.html

The government has brought the Goods and Services Tax Network (GSTN) under the Prevention of Money Laundering Act (PMLA).

10 Jul 2023 05:46 PM

Centre allows data sharing between anti-money laundering authorities, GSTN

Source: https://www.livemint.com/news/india/centre-allows-data-sharing-between-anti-money-laundering-authorities-gstn-11688890987517.html

Finance ministry mandates information sharing between anti-money laundering authorities and GSTN for more effective measures against tax evasion.

10 Jul 2023 05:49 PM

Here’s how India can turbocharge e-commerce exports

Source: https://www.livemint.com/opinion/online-views/heres-how-india-can-turbocharge-e-commerce-exports-11688901248270.html

The Foreign Trade Policy (FTP) 2023, unveiled in April, gave special attention to the needs of the booming sector, but the government needs to do more to improve the ease of doing business, especially for tiny companies

10 Jul 2023 05:52 PM

Lobby group urges GST Council to cut in-cinema F&B tax

Source: https://www.livemint.com/industry/media/gst-council-to-discuss-proposal-to-reduce-taxes-on-f-b-in-cinema-halls-from-18-to-5-says-mai-11688924434537.html

Lower taxes are expected to make cinema visits more affordable and boost revenue for theatre owners

10 Jul 2023 05:56 PM

Rationalisation in GST rates should be implemented gradually, says CBIC Chairman Vivek Johri ahead of Council meeting

Source: https://www.livemint.com/economy/rationalisation-in-gst-rates-should-be-implemented-gradually-cbic-chairman-vivek-johri-11688961133108.html

Vivek Johri, Chairman of CBIC, has stated that any changes to GST rates should be implemented gradually to ensure stability of revenues. He expects the current slab structure to eventually converge towards three or four rates.

10 Jul 2023 05:59 PM

GST Council meeting tomorrow: Opposition states likely to pressure Centre over compensation

Source: https://www.livemint.com/economy/gst-council-meeting-tomorrow-opposition-states-likely-to-pressure-centre-over-compensation-11688959671431.html

Compensation to states for lower-than-promised revenue growth under the GST system may be discussed at the GST Council meeting. Opposition-ruled states such as Kerala and Chhattisgarh are likely to raise the issue.