16 Jun 2022 05:56 PM
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GST Council's 47th meeting to be held on 28, 29 June in Srinagar: FM Sitharaman

Source: https://www.livemint.com/news/india/gst-council-s-47th-meeting-to-be-held-on-28-29-june-fm-sitharaman-11655377407641.html

The 47th meeting of the Goods and Services Tax (GST) Council will be held on 28 and 29 June, 2022 in Srinagar, Union Finance Minister Nirmala Sitharaman said on Thursday.

15 Jun 2022 05:27 PM
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Centre issues guidelines on 2 key tax dispute settlement schemes

Source: https://www.livemint.com/news/india/centre-issues-guidelines-on-2-key-tax-dispute-settlement-schemes-11655235624925.html

NEW DELHI : The Central Board of Direct Taxes (CBDT) has issued a set of guidelines on the interplay between two key schemes meant for minimising litigation--the Vivad se Vishwas direct tax dispute settlement scheme and the mutual agreement procedure (MAP) that offers relief to multinational companies.

15 Jun 2022 05:33 PM
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90% of Indian industry leaders feel GST has made doing business easy: Survey

Source: https://www.livemint.com/news/india/90-of-indian-industry-leaders-feel-gst-has-made-doing-business-easy-survey-11655286448937.html

About 90 per cent of Indian industry leaders feel that GST has made doing business easier by bringing down barriers across the country, a survey showed on Wednesday.

15 Jun 2022 05:38 PM

Govt panel on GST rate revision to meet this month, likely to discuss tax slabs

Source: https://www.livemint.com/news/india/gst-rate-revision-panel-to-meet-this-month-to-discuss-tax-slabs-11655291090365.html

The Group of Ministers on Goods and Services Tax rate rationalisation are expected to meet on 17 June, reported news agency PTI on 15 June. The panel of ministers are most likely to discuss possible tweaking in tax rates and may make changes in the tax slab.

15 Jun 2022 05:46 PM

90% Indian CXOs view GST rollout as a positive step: Study

Source: https://economictimes.indiatimes.com/small-biz/gst/90-indian-cxos-view-gst-rollout-as-a-positive-step-study/articleshow/92223532.cms

NEW DELHI: Giving a thumbs up to the GST regime, 90% Indian CXOs across key sectors have backed this technologically driven indirect tax regime. Industry leaders are of the view that ‘one nation, one tax’ reform has certainly brought down barriers across the country and made doing business easy and effective for both businesses and taxpayers. The GST regime has positively affected the prices and costs of goods and services to end consumers, along with helping companies optimise their supply chains. These insights and more came out in the Deloitte GST@5 Survey 2022.

14 Jun 2022 03:53 PM

GST receipts set to further reduce in June

Source: https://www.livemint.com/economy/gst-receipts-likely-to-further-soften-in-june-11655129119466.html

Goods and Services Tax (GST) receipts of the central and state governments are set to further moderate in June after scaling a historic high in April by riding on financial year end spike in sales, according to data on the generation of e-way bills.

14 Jun 2022 04:04 PM

Game theory analysis indicates the benefits of GST cooperation

Source: https://www.livemint.com/opinion/online-views/game-theory-analysis-indicates-the-benefits-of-gst-cooperation-11655138365295.html

At the time of its introduction in 2017, policymakers across the world wondered how a Goods and Services Tax (GST) would fare in a complex federal economy like India’s. While the success of federal democracy was applauded when it was launched, less noticed was an institution that was created by a Constitutional amendment and has become a symbol of Union-state relations at their best. By setting up the GST Council, India not only strengthened its federal structure, which has evolved since independence, it instituted a mechanism by which state government of varied political allegiances could come together, take and abide by joint decisions for the nation’s common good.

14 Jun 2022 05:01 PM

Kerala Tax Amnesty Scheme – 2022 – Key highlights

Source: https://taxguru.in/goods-and-service-tax/kerala-tax-amnesty-scheme-2022-key-highlights.html

The Government of Kerala vide Circular No. 5/2022 dated March 25, 2022, unveils an Amnesty Scheme, 2022 to settle outstanding tax dues pertaining to the period before GST introduction. The Amnesty scheme will be applicable for all pending tax arrears including cases in appeals (except arrears under KGST from 2005 onwards). The scheme shall apply to the outstanding dues under following Statutes such as:

14 Jun 2022 03:39 PM

GST receipts likely to further soften in June

Source: https://www.livemint.com/economy/gst-receipts-likely-to-further-soften-in-june-11655123561204.html

NEW DELHI : Goods and Services Tax (GST) receipts of the central and state governments are set to further moderate in June after scaling a historic high in April riding on financial year end spike in sales, showed data on e-way bills.

14 Jun 2022 03:47 PM

Forget GST, tax cryptos like shares

Source: https://www.livemint.com/opinion/online-views/forget-gst-tax-cryptos-like-shares-11655124348857.html

India wants to tax crypto transactions under its goods and services tax (GST) regime, but officials aren’t sure whether to classify these digital assets as goods or services. Law officers are grappling with several questions: Should these digital assets qualify as goods or services? Who would be liable to pay GST? On what value would the levy apply? And anyway, valuation is tricky as these digital assets are volatile.