- 09 Aug 2023 05:07 PM
- New
GST impact: Mobile Premier League to slash 350 jobs
New Delhi: As one of the fallouts of the meek outlook following the decision of the GST Council to increase the GST burden on gamers and gaming companies to 28%, one of the largest players in the fantasy gaming business, Mobile Premier League (MPL), has decided to slash 350 jobs.
Read More
- 08 Aug 2023 05:52 PM
- New
Woman's tweet sparks debate over 'unfair' delivery charge in bill; Zomato offers clarification
Woman's tweet sparks debate over 'Unfair' delivery charge in bill; Zomato offers clarification.
A patron of Zomato expressed dissatisfaction on X (formerly Twitter), raising concerns about the perceived "excessive and unjust" container fee. The customer called for an explanation from the food delivery service.
- 08 Aug 2023 05:47 PM
- New
FIU can share data with GSTN: minister
Source: https://www.livemint.com/news/india/fiu-can-share-data-with-gstn-minister-11691436566359.html
Pankaj Chaudhary said that FIU is enabled to share reports like cash transaction report and suspicious transaction report to GSTN for making them available to GST authorities, where such reports are found relevant for GST evasion
Read More
- 05 Aug 2023 05:43 PM
India's Q1 GDP growth projections could be overstated by 1%: HSBC
New Delhi: While India's April-June GDP growth data is likely to come in at an impressive 8% on the back of improved trade, though issues with the manufacturing and services deflator could overstate economic growth by as much as one percentage point, HSBC Global Research said in its latest research report.
Read More
- 04 Aug 2023 05:36 PM
From startups to GST, what World Bank delegation talked about with FM Nirmala Sitharaman after their India visit
Eleven World Bank Executive Directors meet with Indian Finance Minister to discuss government policies and development.
Read More
- 04 Aug 2023 05:25 PM
Six years of GST: Compensation cess still needs to be sorted out
On 1 July 2023, India’s goods and services tax (GST) marked its sixth anniversary. I wrote a five-year review last year (Mint, 1 July 2022), commending its compliance simplification after a bad start. I also strongly proposed universal access to the Reverse Charge Mechanism (RCM) to help resurrect informal manufacturing and services. An explicitly permissible feature in the Central GST Act, a universal RCM was ruled out by notification soon thereafter, essentially destroying unregistered small-scale activity. My call has sadly gone unheeded.
Read More
- 04 Aug 2023 05:29 PM
E-way bills 3rd highest in July despite rain-led disruptions
NEW DELHI : Electronic permits for goods shipments within and across states—the so-called e-way bills—inched up to 87.95 million in July, up from 86 million in June, suggesting continued momentum in economic activity in spite of heavy rains disrupting mobility in parts of North India.
Read More
- 04 Aug 2023 05:41 PM
Guide to E-Invoice Services Offered by New IRPs Under GST
Source: https://taxguru.in/goods-and-service-tax/e-invoice-services-new-irps-gst.html
Introduction: The Indian Goods and Services Tax (GST) system has introduced e-Invoicing, a significant step towards enhancing ease of doing business. This article provides an overview of the services offered by the four new Invoice Registration Portals (IRPs): Cygnet-IRP, Clear-IRP, EY-IRP, and IRIS-IRP.
Read More
- 04 Aug 2023 05:32 PM
The survival play of real-money gaming firms
On LinkedIn, the professional networking site, Sachin Yadav describes himself as “a passionate entrepreneur, driven by a relentless pursuit of innovation, growth, and success." Three years ago, he co-founded Quizy in Gurugram, a real-money-based gaming company. In such games, users play to win money. Quizy raised venture money from 100X, a venture capital firm that invests in early-stage startups. The company claimed it had scaled to over a million users. But earlier this week, Yadav announced that he was shutting down Quizy.
Read More
- 03 Aug 2023 05:54 PM
Gaming industry slams no rollback on 28% taxation
New Delhi: In a blow to the domestic online gaming industry, the government's GST Council on Wednesday decided not to roll back the 28% GST on the sector.
Read More