13 Oct 2023 04:39 PM
New

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
New

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 04:51 PM
New

GST Exemption for Gangajal and Puja Samagri: CBIC Clarification

Source: https://taxguru.in/goods-and-service-tax/gst-exemption-gangajal-puja-samagri-cbic-clarification.html

Introduction: The Central Board of Indirect Taxes and Customs (CBIC) recently issued a clarification in response to certain media reports regarding the applicability of the Goods and Services Tax (GST) on Gangajal, a vital component in religious rituals performed by households throughout the country. This clarification sheds light on the GST status of Gangajal and other puja samagri items, reaffirming their exempt status under GST. The decision was made during the 14th and 15th meetings of the GST Council in May and June 2017.

12 Oct 2023 06:21 PM

Do you have to pay GST on Gangajal? CBIC has this to say

Source: https://www.livemint.com/news/india/do-you-have-to-pay-gst-on-gangajal-cbic-has-this-to-say-11697104097110.html

The Central Board of Indirect Taxes and Customs has issued a clarification stating that no GST is imposed on Gangajal and other puja items

12 Oct 2023 06:17 PM

Delta Corp share price rally over 4% after Q2 results

Source: https://www.livemint.com/market/stock-market-news/delta-corp-share-price-rally-over-4-after-q2-results-11697083286692.html

Delta Corp, the casino operator, on Wednesday reported a 1.68% rise in its Q2FY24 net profit to ₹69.4 crore from ₹68.25 crore in a year ago period.

11 Oct 2023 05:48 PM

LIC gets GST notice for paying taxes at lower rate. Details here

Source: https://www.livemint.com/news/lic-gets-gst-notice-for-paying-taxes-at-lower-rate-details-here-11697015282585.html

The Life Insurance Corporation of India (LIC) on October 11 informed the stock exchanges that it has received a notice for the payment of Goods and Services Tax (GST), along with a penalty and interest, amounting to nearly ₹37,000.

11 Oct 2023 05:42 PM

Sugar stocks: Price surge and ethanol boost fuel interest

Source: https://www.livemint.com/market/mark-to-market/sugar-stocks-price-surge-and-ethanol-boost-fuel-interest-11696955657325.html

The goods and services tax (GST) on molasses has plummeted from 28% to just 5%. Molasses is a byproduct of sugar production. For listed sugar companies though, it would not move the needle. “GST cut on molasses will have little to no impact on sugar companies as there is limited third party purchases of molasses. Most of the molasses used for ethanol manufacturing is sourced internally," said Prashant Biyani, vice president – institutional equity, Elara Capital. Thus, the impact on sugar companies would vary based on a sugar manufacturer’s reliance on external purchases.

11 Oct 2023 05:52 PM

CBI Arrests CGST Officials in Rs. 25,000 Bribery Case

Source: https://taxguru.in/goods-and-service-tax/cbi-arrests-superintendent-cgst-bribery-case.html

The Central Bureau of Investigation (CBI) has made significant strides in its ongoing mission to combat corruption. In a recent development, four officials of the Central Goods and Services Tax (CGST), including two Superintendents, an Inspector, and a Tax Assistant, were apprehended on charges of engaging in an alleged bribery scheme amounting to Rs. 25,000.

10 Oct 2023 06:26 PM

Star Health and Allied Insurance sent GST notice for ₹39 crore by DGGI

Source: https://www.livemint.com/companies/news/star-health-and-allied-insurance-sent-gst-notice-for-rs-38-crore-by-dggi-11696866643239.html

Star Health and Allied Insurance company received a notice from the Directorate General of GST Intelligence for payment of tax worth ₹38.99 crore, the insurance firm said in its BSE filing on Monday.

09 Oct 2023 06:29 PM

52nd GST Council Meeting Recommendations & Amendments

Source: https://taxguru.in/goods-and-service-tax/52nd-gst-council-meeting-recommendations-amendments.html

The 52nd GST Council Meeting, held in New Delhi on October 7, 2023, witnessed significant recommendations and amendments aimed at simplifying the Goods and Services Tax (GST) system in India. Chaired by Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman, the meeting addressed various aspects of GST, from rate changes to trade facilitation measures and legal reforms.