18 Oct 2023 06:24 PM
New

Latest Amendments to GST Rules: Key Updates September 2023

Source: https://taxguru.in/goods-and-service-tax/latest-amendments-gst-rules-key-updates-september-2023.html

Introduction: In 2023, significant amendments were introduced to the Central Goods and Services Tax (GST) Rules, bringing about important changes and clarifications in the GST framework. These changes were aimed at streamlining the taxation system and enhancing compliance while aligning with the decisions of the GST Council. In this article, we will delve into the key updates resulting from these amendments.

17 Oct 2023 05:17 PM
New

Goa (Recovery of Arrears of Tax, Interest, Penalty, Other Dues through Settlement) Act, 2023

Source: https://taxguru.in/goods-and-service-tax/goa-recovery-arrears-tax-interest-penalty-dues-settlement-act-2023.html

Goa (Recovery of Arrears of Tax, Interest, Penalty, Other Dues through Settlement) Act, 2023

The Goa (Recovery of Arrears of Tax, Interest, Penalty, Other Dues through Settlement) Act, 2023 (Goa Act 34 of 2023) (hereinafter referred to as the “GRATIPOS Act”) has been notified vide Notification No. 7/30/2023-LA dated 08/09/2023 published in Official Gazette, Extraordinary No. 3, Series I dated 08/09/2023.

17 Oct 2023 05:08 PM
New

Dabur gets GST demand notice of ₹320.6 crore

Source: https://www.livemint.com/companies/dabur-gets-gst-tax-demand-notice-of-rs-320-6-crore-11697536687898.html

FMCG major Dabur has received a Goods and Service Tax (GST) demand notice of ₹320.6 crore, a regulatory filing stated on October 17, adding that the company is reviewing the intimation and evaluating the next steps in this matter.

16 Oct 2023 06:16 PM

Foreign giants on notice: Govt expects ₹2,000 crore revenue surge from GST compliance

Source: https://www.livemint.com/companies/news/foreign-giants-on-notice-govt-expects-rs-2-000-revenue-surge-from-gst-compliance-11697430903945.html

The Goods and Services Tax (GST) authorities have sent notices to a bunch of foreign companies such as Facebook, Google, Netflix and Spotify, to ensure compliance with new GST regualtions, Business Standard reported.

16 Oct 2023 06:09 PM

Life insurance firms consider 30% cap on commissions for credit life policies

Source: https://www.livemint.com/insurance/life-insurance-firms-consider-30-cap-on-commissions-for-credit-life-policies-11697436128731.html

Life insurance companies are on the verge of reaching an agreement to enforce a 30 percent cap on commissions paid to corporate agencies, including banks and non-banking financial companies (NBFCs), for credit life policies, as per reports.

16 Oct 2023 06:05 PM

Delta Corp shares hit 52-week low as company's subsidiary receives GST notice; stock down 30% in less than a month

Source: https://www.livemint.com/market/stock-market-news/stock-market-today-delta-corp-shares-hit-52-week-low-share-falls-30-after-first-gst-notice-in-september-2023-11697430684658.html

Stock market today: Delta Corp shares fell 10 percent on Monday after the company's subsidiary, Deltatech Gaming Limited, received a Goods and Services Tax (GST) notice for payment of ₹6,384 crore owing to tax shortfall. The stock hit a 52-week low of ₹126 apiece.

14 Oct 2023 05:26 PM

Delta Corp gets another GST shortfall notice of ₹6,384 crore

Source: https://www.livemint.com/companies/delta-corp-gets-another-gst-shortfall-notice-of-rs-6-384-crore-11697280187108.html

Delta Corp has received fresh notices of alleged shortfall in the payment of Goods and Services Tax (GST) to the tune of ₹6,384 crore, as per a regulatory filing made by the casino chain operator on October 14.

14 Oct 2023 05:23 PM

GST on water takes a political twist

Source: https://www.livemint.com/politics/gst-on-water-takes-a-political-twist-11697126595363.html

New Delhi: Congress Party president and parliamentarian Mallikarjun Kharge on Thursday alleged in a social media post addressed to Prime Minister Narendra Modi that his government has levied 18% GST on water from the river Ganga, considered holy by millions of Indians.

13 Oct 2023 04:51 PM

GST Exemption for Gangajal and Puja Samagri: CBIC Clarification

Source: https://taxguru.in/goods-and-service-tax/gst-exemption-gangajal-puja-samagri-cbic-clarification.html

Introduction: The Central Board of Indirect Taxes and Customs (CBIC) recently issued a clarification in response to certain media reports regarding the applicability of the Goods and Services Tax (GST) on Gangajal, a vital component in religious rituals performed by households throughout the country. This clarification sheds light on the GST status of Gangajal and other puja samagri items, reaffirming their exempt status under GST. The decision was made during the 14th and 15th meetings of the GST Council in May and June 2017.

13 Oct 2023 04:39 PM

GST on water takes a political twist

Source: https://www.livemint.com/politics/gst-on-water-takes-a-political-twist-11697126595363.html

New Delhi: Congress Party president and parliamentarian Mallikarjun Kharge on Thursday alleged in a social media post addressed to Prime Minister Narendra Modi that his government has levied 18% GST on water from the river Ganga, considered holy by millions of Indians.