- 27 Jun 2022 05:40 PM
- New
Tweaks may raise GST on water pumps, room rents in hospitals
The tax burden could increase on items like water pumps, dairy machinery, leather products and solar water pumps, and services like hospital rooms with rent above ₹5,000 a day and hotel accommodation cheaper than ₹1,000 a night, if the proposals of a ministerial panel are cleared at the Goods and Services Tax Council’s meeting this week.
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- 27 Jun 2022 05:43 PM
- New
GST cess extended, but states’ fiscal woes to continue
NEW DELHI : Those who buy cars, caffeinated drinks and tobacco will continue to pay GST cess till March 2026 as per a government order on Saturday extending the levy by another four years.
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- 27 Jun 2022 05:49 PM
- New
Highest tax slab on online gaming may stunt growth
NEW DELHI : The government’s plan to levy the highest goods and services tax (GST) slab on online gaming has the industry worrying about future growth plans. Industry experts and executives said that it could stunt the growth of online gaming firms and force fantasy sports firms to reduce the prize pools they offer, which could drive their big users to leave the platforms in search of bigger games. The GST Council is set to meet on 28 June to decide which slab will be applied.
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- 27 Jun 2022 05:52 PM
GST Council may approve 28% rate on online games, casinos, race courses
New Delhi: The GST Council, in its two-day meeting beginning Tuesday, is likely to clarify that 28% rate could apply to casinos, online games, and race courses, and specify the transaction value on which a proposed 28% tax would apply, bringing much-needed clarity on the taxation in these sectors.
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- 27 Jun 2022 05:57 PM
Fintech lender NeoGrowth launches accelerator business loan
NeoGrowth Accelerator is a collateral-free term loan of up to ₹20 lakh for the underserved MSME segment comprising manufacturers, distributors, traders, dealers, and service providers. It is designed to fulfill the working capital requirements of GST-registered MSMEs based on their cash flows
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- 27 Jun 2022 06:05 PM
GST Council Meet: Rate changes on some items on cards, states' compensation tops agenda
Apart from rate rationalisation, the Council is expected to see a stormy discussion around compensation payout to states with Opposition-ruled states aggressively pushing for its continuation beyond the 5-year period which ends in June.
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- 27 Jun 2022 06:12 PM
47th GST Council Meeting Expected Agenda
Source: https://taxguru.in/goods-and-service-tax/47th-gst-council-meeting-expected-agenda.html
The two-day GST Council meet on 28th and 29th of June in Chandigarh is likely to deliberate upon a various agenda. The main aim will be to ease compliance burden, promote small businesses and increase tax collection by enhancing tax rates and tax base.
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- 25 Jun 2022 05:33 PM
L'oreal profiteered ₹186 crore by not passing GST benefits to consumers: National Anti-Profiteering Authority
The goods and services tax (GST) profiteering watchdog has held cosmetics and personal care giant L’oreal guilty of not passing on the rate reduction benefits to consumers to the tune of ₹186 crore.
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- 25 Jun 2022 05:40 PM
Cryptocurrency TDS may impact long-term liquidity
A new tax regime that is set to be imposed on the sale of virtual digital assets, or cryptocurrency tokens, may not have a big impact in the short run. However, in the long term, the additional tax deducted at source (TDS) of 1% could affect overall liquidity in the crypto market once the sector bounces back, said experts.
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- 25 Jun 2022 05:49 PM
GST compensation cess levy extended till 31 March 2026: Finance Ministry
The Finance Ministry on 25 June notified the extension for levy of GST compensation cess by nearly 4 years till 2026.
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