- 02 Aug 2023 05:10 PM
- New
Gaming sponsors brace for impact amid GST turmoil
New Delhi: The marketing budgets of the top gaming industry sponsors could go haywire this year if the Goods and Services Tax (GST) Council on 2 August announces a higher taxation on the industry.
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- 01 Aug 2023 05:41 PM
- New
Centre, states collect ₹1.65 trillion in GST revenue in July
This is the fifth time that GST revenue collection has remained above the ₹1.6 trillion mark
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- 01 Aug 2023 05:22 PM
- New
GST Council should discuss burden on small businesses, tax frauds: Amit Mitra
Tax authorities usually pick up cases for verification based on certain risk parameters, red flags raised in the system and inputs from various other players in the ecosystem as they balance the needs for effective tax administration and ease of doing business.
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- 01 Aug 2023 05:26 PM
GST on online gaming: We have space to reach a middle-ground
The recommendation of India’s GST Council to impose a 28 % tax on the full face value of bets placed on online games has put the fate of the online skill-based gaming industry at serious risk. This is in direct contradiction with steps taken by the Union ministry of electronics and information technology (MeitY) to support the industry by introducing a regulatory system for permissible online gaming. The MeitY consultations that led up to that framework, led by minister of state for IT Rajeev Chandrasekhar, were hailed widely in the industry as being comprehensive, inclusive and evidence-based.
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- 01 Aug 2023 05:35 PM
New GST rules: What has changed for companies with more than ₹5 crore turnover from today?
GST rule change: From 1 August 2023, it will be mandatory for all the businesses with turnover of ₹5 crore or above to produce e-invoice
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- 31 Jul 2023 05:33 PM
Rent on hostel, paying accommodations to attract 12% GST; here's why
PG/Hostel Rent paid by inhabitants do not qualify for GST exemption… as the services provided by applicant are not akin to renting of residential dwelling for use as residence, said the Bengaluru bench.
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- 29 Jul 2023 05:37 PM
Major GST fraud unearthed: 3 arrested in Meerut for claiming fake tax credit of ₹557 cr
GST officers arrest 3 operatives involved in major fake billing rackets with fraudulent input tax credit of ₹557 crore.
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- 29 Jul 2023 05:44 PM
Government Proposes Online Audit Mechanism for Streamlining GST Process
In response to concerns over anti-competitive practices by major tech companies, the Union government has decided to introduce an online audit mechanism under the Goods and Services Tax (GST) system. This move aims to streamline the audit process, making it more efficient and less intrusive for taxpayers. The decision comes following a recommendation from a parliamentary panel on finance, which suggested the adoption of modern technology to enhance the GST audit process.
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- 28 Jul 2023 05:42 PM
Speed up common form for tax: Panel
The panel, which has 31 members from both Houses, in addition to the chairperson, said it is expected proposed common tax return form, which was released for public consultation in November, would considerably ease filing of returns for individuals and non-business-type tax payers.
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- 27 Jul 2023 06:32 PM
GST Council likely to meet on August 2 to discuss online gaming tax treatment, law changes
The discussions will be around procedural issues and amendments in the GST law that have to be approved by the GST Council, ‘there is no backtracking on the proposal’, the report said
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