Revised GST rates kick-in today; Here is a list of items that'll get costlier
  • 18 Jul 2022 03:08 PM
  • New

Revised GST rates kick-in today; Here is a list of items that'll get costlier

Source: https://economictimes.indiatimes.com/small-biz/gst/revised-gst-rates-kick-in-today-here-is-a-list-of-items-thatll-get-costlier/articleshow/92947054.cms

Consumers may have to shell out more as several goods and services will cost higher from July 18 onwards with the Goods and Services Tax (GST) Council approving rate hike to address inverted duty structures and withdrawing some exemptions.

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FAQs on GST applicability on ‘pre-packaged and labelled’ goods- reg
  • 18 Jul 2022 03:18 PM
  • New

FAQs on GST applicability on ‘pre-packaged and labelled’ goods- reg

Source: https://taxguru.in/goods-and-service-tax/faqs-gst-applicability-pre-packaged-labelled-goods-reg.html

The changes relating to GST rate, in pursuance of recommendations made by the GST Council in its 47th meeting, are coming into effect from the 18th of July, 2022. One such change is moving from imposition of GST on specified goods when bearing a registered brand or brand in respect of which an actionable claim or enforceable right in a court of law is available to imposition of GST on such goods when “pre-packaged and labelled”. .

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Withdraw GST on healthcare, IMA asks Finance Minister Nirmala Sitharaman
  • 17 Jul 2022 04:20 PM
  • New

Withdraw GST on healthcare, IMA asks Finance Minister Nirmala Sitharaman

Source: https://www.livemint.com/news/india/withdraw-gst-on-healthcare-ima-asks-finance-minister-nirmala-sitharaman-11657984763103.html

The Goods and Services Tax (GST) will increase the cost of operating hospitals and clinics in the nation, the Indian Medical Association (IMA) told Finance Minister Nirmala Sitharaman.

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Request to clarify on GST on ‘pre-packaged & labelled’ goods
  • 17 Jul 2022 04:29 PM
Government notifies GST rate changes, to revamp return form
  • 16 Jul 2022 04:50 PM

Government notifies GST rate changes, to revamp return form

Source: https://www.livemint.com/news/india/government-notifies-gst-rate-changes-to-revamp-return-form-11657901016301.html

NEW DELHI : The government has notified several tax rate changes cleared by the Goods and Services Tax (GST) Council at its meeting last month which will take effect from Monday and has sought public comments on a revamp of the GST return form. The new rates notified include a 5% tax on services provided by clinical establishments by way of room other than intensive, critical care, intensive cardiac care and neonatal intensive care units where the rent levied is more than ₹5,000 a day.

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GST on food items: Traders hold protests; grain markets closed
  • 16 Jul 2022 04:57 PM

GST on food items: Traders hold protests; grain markets closed

Source: https://www.livemint.com/news/india/gst-on-food-items-traders-hold-protests-grain-markets-closed-11657968092737.html

New Delhi's wholesale and retail grain markets were shut down on July 16 as a result of a protest by business owners against the GST Council's decision to impose a 5% GST on pre-packaged and labelled food items. Due to the market bandh called by traders, wholesale grain markets in Narela, Bawana, and other areas of the city seemed desolate. The city's retail grain markets were all shut down.

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How uniformity in tax law made a common national market
  • 16 Jul 2022 05:05 PM

How uniformity in tax law made a common national market

Source: https://economictimes.indiatimes.com/small-biz/gst/how-uniformity-in-tax-law-made-a-common-national-market/articleshow/92913472.cms

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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New GST googly: Gifted IPL tickets are no longer free
  • 16 Jul 2022 05:19 PM

New GST googly: Gifted IPL tickets are no longer free

Source: https://economictimes.indiatimes.com/small-biz/gst/new-gst-googly-gifted-ipl-tickets-are-no-longer-free/articleshow/92915089.cms

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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Draft paper released on changes to GSTR-3B
  • 16 Jul 2022 05:28 PM

Draft paper released on changes to GSTR-3B

Source: https://economictimes.indiatimes.com/small-biz/gst/draft-paper-released-on-changes-to-gstr-3b/articleshow/92915189.cms

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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GST rate hike: List of items to get costlier from next week
  • 15 Jul 2022 01:45 PM

GST rate hike: List of items to get costlier from next week

Source: https://www.livemint.com/news/india/gst-rate-hike-list-of-items-to-get-costlier-from-next-week-11657861520548.html

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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