- 13 Aug 2022 01:45 PM
- New
No GST when residential unit rented to private person
NEW DELHI : The government on Friday clarified that renting of residential unit is taxable only when it is rented to a business entity and that there is no Goods and Services Tax (GST) when it is rented to private persons for personal use.
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- 12 Aug 2022 01:24 PM
- New
Why higher GST on chit funds is a bad idea
Despite 75 years of independence, access to borrowings from commercial banks, especially for meeting emergency needs, remains elusive for the majority of Indian households. Many Indians work in the informal sector or are self-employed. They do not have stable income streams, proof of regular income or the collateral that banks need to sanction personal as well as small business loans. This forces them to rely on sources of credit such as non-banking financial companies (NBFCs), friends and relatives, and local money lenders and pawnbrokers.
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- 12 Aug 2022 01:35 PM
- New
GST on online gaming, casinos? Here's what is on proposal
A panel of states' finance ministers is likely to submit their report on taxation of casinos and online gaming to FM Nirmala Sitharaman in a day or two, as per a report by PTI news agency.
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- 12 Aug 2022 01:40 PM
Rains, cooling commodities augur well for economy: Centre
NEW DELHI : Easing global commodity prices bodes well for the economy and will reflect positively on the current account deficit (CAD) even as the central government keeps a close watch on trends in inflation, especially from the perspective of protecting the interests of the poor and the middle class, a top government official said on Thursday. A promising monsoon means half the battle is won, the person said.
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- 12 Aug 2022 05:15 PM
GST on rent: Govt clarifies on the new rule on residential properties
The government has clarified on the new GST or goods and services tax rules on rent, which came into effect from 18th July. In a tweet, PIB said that “renting of residential unit taxable only when it is rented to business entity️." It further clarified that “no GST when it is rented to private person for personal use; no GST even if proprietor or partner of firm rents residence for personal use."
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- 12 Aug 2022 05:44 PM
New Functionalities for Taxpayers on GST Portal (July, 2022)
Source: https://taxguru.in/goods-and-service-tax/functionalities-taxpayers-gst-portal-july-2022.html
Earlier only a single Trade Name was being captured during New Registrations and subsequent amendment in core field for Normal Taxpayer on the Portal.
Now taxpayers have been provided with an option to provide up to 9 additional trade names for a single GSTIN registration through core field amendment. The Taxpayer can upload supporting document for trade name of size 5 MB. Both these new fields will be kept optional.
- 12 Aug 2022 05:49 PM
CGST Mumbai (South) Commissionerate busts Rs. 455 Crore fake GST invoice racket
CGST Mumbai (South) Commissionerate busts Rs. 455 Crore fake GST invoice racket – One person Arrested
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- 10 Aug 2022 04:58 PM
Fast track recovery of tax arrears: Parliamentary panel to revenue department
NEW DELHI : The revenue department should make a concrete blueprint for clearing the backlog of tax arrears that has soared to ₹21 trillion, a Parliamentary panel has told the Revenue Department in the just concluded monsoon session, official documents showed.
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- 10 Aug 2022 05:32 PM
Option in Form RFD-01 to get refund arising out of excess payment in GSTR 4
Option in Form RFD-01 to get refund arising out of excess payment in GSTR 4, for Taxpayer under Composition levy
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- 10 Aug 2022 05:35 PM
Functionality to search and view Advance Ruling Orders under GST
Source: https://taxguru.in/goods-and-service-tax/functionality-search-view-advance-ruling-orders-gst.html
♦ Earlier, there was no functionality available to search for the Advance Ruling Orders issued by the Authority / Appellate Authority for Advance Ruling.
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