- 29 Sep 2023 06:33 PM
- New
Revenue loss still a road block to fuel GST
NEW DELHI : Petroleum products are unlikely to be brought under the Goods and Services Tax (GST) anytime soon, as doing so can cause states’ fiscal deficit to balloon, while also widening revenue losses for the Centre, two senior government officials told Mint.
Read More
- 29 Sep 2023 06:35 PM
- New
Hard luck for angels
Source: https://www.livemint.com/opinion/quick-edit/hard-luck-for-angels-11695751729303.html
Closing tax loopholes is challenging but necessary. Levying goods and services tax on betting platforms and revising India's 'angel tax' help prevent tax evasion.
Read More
- 29 Sep 2023 06:38 PM
- New
Govt’s GST claims from gaming firms may touch ₹1.5 tn
The Directorate General of GST Intelligence (DGGI) is expected to issue tax demands of as much as ₹1.5 trillion ($18 billion) cumulatively to companies in the online gaming sector for alleged underpayment of taxes over several years, three people aware of the matter said.
Read More
- 29 Sep 2023 06:43 PM
GST from October on imported online services for personal use
New Delhi: From 1 October, import of online services for personal use from offshore digital services companies such as software sellers, content streaming platforms and social media firms and search engines hosting advertisements will be subject to 18% Integrated Goods and Services Tax (IGST), as per a finance ministry order implementing a set of tax changes introduced in the budget this year.
Read More
- 29 Sep 2023 06:41 PM
Let us not resurrect the ghost of retro taxation
The Centre’s argument of its GST law tweak this year being clarificatory in nature may not suffice to defend what looks like retrospective taxation. We must not revive that inequity
Read More
- 29 Sep 2023 06:51 PM
Advisory: Temporary/Short Period Pause in e-Invoice Auto Population into GSTR-1
Temporary Pause in e-Invoice Auto Population in GSTR-1: Important Advisory
In a recent development, the Goods and Services Tax Network (GSTN) has issued an advisory regarding a temporary pause in the auto-population of e-Invoice data into GSTR-1. This pause is a result of essential system upgrades aimed at enhancing the overall functionality of the GST ecosystem. In this article, we will delve into the details of this advisory and its implications for taxpayers.
- 29 Sep 2023 06:45 PM
ICICI Lombard gets show-cause notice for non-payment of ₹1,728.80 crore in GST
In August, too, ICICI Lombard had received a notice for non-payment of ₹273.4 crore in taxes along with interest.
Read More
- 29 Sep 2023 06:48 PM
Data recap: Jobs market, government debt, GST claims, and more
Every Friday, Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. The Centre has stuck to its borrowing plans for the second half of the current financial year, while a report released last week showed a high level of self-employment among women since the pandemic. Meanwhile, high claims under goods and services tax (GST) from gaming firms have raised eyebrows.
Read More
- 26 Sep 2023 05:23 PM
Mint Primer: Unraveling DGGI's hefty tax notices to online gaming startups
The Directorate General of GST Intelligence (DGGI) is gearing up to issue extensive tax demands to firms in the online gaming sector, with some demands reportedly up to 16 times the initially computed taxes paid by these firms and, in some instances, exceeding 10 times their annual revenue, according to sources familiar with Mint. Why is the body making these claims, and are they substantiated? Mint explains
Read More
- 26 Sep 2023 05:18 PM
Dream11 challenges ₹40,000 Cr GST evasion notice in Bombay High Court: Report
Dream11, headed by Harsh Jain, has apparently followed in the footsteps of Gameskraft by resorting to legal action in response to a show cause notice from tax authorities.
Read More