- 24 Jan 2024 05:45 PM
- New
Budget 2024 Expectations: Streamlining TCS to GST credit —here's what travel & tourism sector expects this year
Finance Minister Nirmala Sitharaman will unveil the Interim Budget for the financial year 2024-2025 (FY25) on February 1, 2024, which is likely to keep the focus on fiscal consolidation and nominal economic growth projection and may not involve any major policy changes.
Read More
- 24 Jan 2024 05:40 PM
- New
Budget 2024 expectations: EV industry pins hopes on subsidy extension and GST reforms
As the Indian government gears up for the Interim Budget announcement in February, leaders in the electric vehicle (EV) industry are optimistic about crucial reforms that could further help the sector's growth. The statements from prominent figures in the industry shed light on their expectations and aspirations for a budget that addresses key issues and supports the EV landscape.
Read More
- 24 Jan 2024 05:47 PM
- New
‘New GST rate has sent sector back by months’
Source: https://www.livemint.com/news/new-gst-rate-has-sent-sector-back-by-months-11706021190789.html
Mumbai: The gaming industry had an eventful 2023. First, the ministry of electronics and information technology (MeitY) emerged as its nodal ministry, offering a clear, designated channel for industry interaction. Then came a big setback with the sharp increase in GST rate. In an exclusive interview, Bhavin Pandya, co-founder and co-CEO of Games24x7, discussed the government’s apprehensions, the industry’s quest for regulations, repercussions of the tax rise, investor outlook, and the pathway for future growth amid perception hurdles. Edited excerpts:
Read More
- 23 Jan 2024 05:56 PM
Budget 2024 expectations: GJEPC urges for duty cuts on gold and polished diamonds
Ahead of the Union Budget, the Gem and Jewellery Export Promotion Council (GJEPC) have urged the government to reduce import duty on gold and cut and polished diamonds to help the sector stay competitive globally.
Read More
- 23 Jan 2024 06:03 PM
CBI arrests CGST Inspector & 2 Private Persons in A Bribery of Rs. 10 Lakh
Introduction: The Central Bureau of Investigation (CBI) recently made headlines with the arrest of an Inspector from the Central Goods and Services Tax (CGST) department in Jaipur, along with two private individuals acting as middlemen. The arrests were made in connection with an alleged bribery case amounting to Rs. Ten Lakh.
Read More
- 23 Jan 2024 06:00 PM
Budget 2024 expectations: Perks for first-time homebuyers, tax sops, industry status top real estate players' wish list
Budget 2024 expectations: With Budget 2024-25 only days away, top real estate players lay stress on increased tax slabs and revised affordability caps in their wishlist. They also advocated for incentives, anticipating a budget that addresses critical challenges, stimulates demand, and aligns with the government's vision of sustainable growth. The sectoral leaders called for the expansion of the SWAMIH (Special Window for Affordable and Mid-Income Housing) stress fund and the creation of a second tranche aimed at completing stalled projects and ensuring liquidity. Additionally, they called for tax reliefs for first-time homebuyers and the reintroduction of GST with an input tax credit on under-construction properties to stimulate demand.
Read More
- 20 Jan 2024 05:43 PM
GSTN Advisory on payment through Credit/Debit cards and UPI
Source: https://taxguru.in/goods-and-service-tax/gstn-advisory-payment-credit-debit-cards-upi.html
In a move to enhance the convenience for taxpayers registered under the Goods and Services Tax (GST), the GSTN (Goods and Services Tax Network) has introduced two new methods of payment under e-payment. This Advisory aims to guide taxpayers on making payments through Credit Card (CC), Debit Card (DC), and Unified Payments Interface (UPI) in addition to the existing net-banking option.
Read More
- 19 Jan 2024 06:50 PM
‘New GST burden may make biz unsustainable’
New Delhi: Gaming companies have been grappling with the swift changes in the newly imposed GST tax liability on them. In the Supreme Court, there are two cases, one for the new GST tax which the industry has been lobbying against and another which is opposing a retrospective tax liability on the GST. Amid this, one company that functions as a business unit of Baazi Games—SportsBaazi—said there could be a time when gaming companies would find it unsustainable to not be able to pass on the tax burden to the consumer. For now, their business, the company’s co-founders, Saurabh Chopra and Puneet Dua, said has had to pivot the business model to creating additional revenue streams, to mitigate the impact.
Read More
- 19 Jan 2024 06:59 PM
Budget 2024: ITR deadline should be extended, says Hiren Thakkar of Hiren S Thakkar and Associates
Budget 2024 : The government undertook the rationalisation of income tax slabs and launched a new tax regime in which tax rates were highly reduced, addressing a long-standing need in the last Budget, says Hiren Thakkar, Proprietor, Hiren S Thakkar & Associates Chartered Accountants.
Read More
- 19 Jan 2024 06:56 PM
Budget 2024 expectations: From FAME scheme subsidy extension to GST reduction, here is the EV sector wish list
Budget 2024: After years of capital infusion in the electric vehicle sector with the help of subsidies and tax exemptions, EV industry stalwarts believe that a prolonged subsidy and tax exemptions would catalyse the growth of the EV segment in the country.
Read More