- 16 Jul 2022 05:05 PM
- New
How uniformity in tax law made a common national market
The GST law is driven by the recommendations of the GST Council, which is a body having representation from both Central and State Governments, thus promoting uniformity in law, practice, tax processes and standardisation of reports or filings.
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- 16 Jul 2022 05:19 PM
- New
New GST googly: Gifted IPL tickets are no longer free
This would mean that any IPL franchise owner gifting complimentary tickets to its employees will have to cough up GST on the value. KPH Dream Cricket Private Ltd, which operates an IPL cricket team under the title Punjab Kings, had approached the Punjab bench of AAAR for clarity on the matter.
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- 16 Jul 2022 05:28 PM
- New
Draft paper released on changes to GSTR-3B
The draft, approved by the GST Council in its 47th meeting held last month, has incorporated many recommendations by the industry such as auto population of values and streamlining process of input tax credit and IGST settlement, and allowing negative values.
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- 15 Jul 2022 01:45 PM
GST rate hike: List of items to get costlier from next week
GST rate hike: Be ready to spend more for household items, hotels, bank services, among others from next week. After the recommendations that were taken up in the two-day 47th GST Council meeting in Chandigarh on Wednesday, the Goods and Services Tax (GST) were hiked for numerous items.
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- 15 Jul 2022 01:52 PM
Comprehensive changes in FORM GSTR-3B
Source: https://taxguru.in/goods-and-service-tax/comprehensive-changes-in-form-gstr-3b.html
A proposal of comprehensive changes in FORM GSTR-3B was deliberated by the GST Council in its 47th meeting held at Chandigarh on 28th and 29th June 2022. The Council recommended that the said proposal may be placed in public domain for seeking inputs and suggestions of the stakeholders.
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- 14 Jul 2022 04:14 PM
One arrested for GST fraud
Source: https://www.livemint.com/news/india/one-arrested-for-gst-fraud-11657724029473.html
The Directorate General of GST Intelligence has arrested one person for allegedly availing of input tax credit on the basis of invoices without actual supply of goods, an official statement said.
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- 14 Jul 2022 04:52 PM
GST Fraud of Rs 52.04 crore – DGGI Gurugram arrests one person
The Gurugram Zonal Unit (GZU) of Directorate General of GST Intelligence (DGGI), has arrested one person under the provisions of the GST Act on charges of availment of Input Tax Credit on the strength of goods-less invoices.
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- 13 Jul 2022 12:16 PM
Qualification relaxation in healthcare can't be given: Delhi HC
The Delhi High Court has noted that patient safety is of the utmost significance and that concessions made under government policies to start-ups and MSMEs regarding their expertise and other qualifications cannot be offered in particular industries, such as healthcare. A registered start-up earlier petitioned the court to object to the tender terms set by a super-specialty hospital run by the Delhi government for the purchase of stents, grafts, and valves for the cardiology department.
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- 13 Jul 2022 12:23 PM
GST on online gaming, casinos: Group of Ministers to finalise report by 10 Aug
The Group of Ministers (GoM) will finalise its report on taxing casinos, online gaming and horse racing by 10 August. In a virtual meeting held on Tuesday, the GoM discussed various methods of taxation of casinos, horse racing and online gaming.
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- 13 Jul 2022 12:33 PM
Why it’s time to worry about state finances
Source: https://www.livemint.com/economy/why-we-need-to-fix-sinking-state-finances-now-11657649114270.html
State governments are confronting various fiscal risks, particularly heavy debt, says the Reserve Bank of India’s latest bulletin. The Centre too recently red-flagged states’ high off-budget borrowings and escalating power dues. Mint analyses the implications.
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