- 17 Mar 2025 06:53 PM
- New
Government has no plans to roll back GST on leased properties
Source: https://taxguru.in/goods-and-service-tax/government-plans-roll-gst-leased-properties.html
The Government has no plans to roll back GST on leased properties, which has been applicable at 18% since 2017. The GST Council, a constitutional body, reviews such policies. In its 54th meeting, the Council shifted GST on non-residential property leases to a reverse charge mechanism. However, concerns were raised that this change increased costs for Composition Scheme taxpayers, as they cannot claim Input Tax Credit (ITC). To address this, the 55th GST Council meeting (Dec 2024) recommended excluding Composition Scheme taxpayers from this requirement. A new notification (No. 07/2025-CT(R)) was issued in January 2025, exempting them from reverse charge GST liability. The Central Government does not maintain nationwide data on leased properties.
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- 17 Mar 2025 06:36 PM
- New
Indian gig workers who offer mobility services deserve GST relief
The Union Budget for 2024-25 rightly focused on promoting inclusive growth and enabling employment-led development in India. With a goal of assisting the poor and vulnerable groups, finance minister Nirmala Sitharaman proposed a scheme for the socioeconomic upliftment of Indian workers as the government tries to help them raise their incomes and attain sustainable livelihoods for a better quality of life.
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- 17 Mar 2025 07:04 PM
- New
No Specific Income Tax Tax Codes for Online Gaming Companies
Source: https://taxguru.in/goods-and-service-tax/specific-income-tax-tax-codes-online-gaming-companies.html
The Indian government does not have specific tax codes for online gaming companies, making it difficult to track direct tax collections. However, under GST, 158 cases involving ₹1,53,167.37 crore have been registered against online gaming companies from July 2017 to January 2025. Additionally, 91 show cause notices have been issued, involving ₹1,43,961.83 crore. To prevent tax evasion, several GST measures have been introduced, including mandatory sequential return filing, electronic invoicing for businesses with over ₹5 crore turnover, biometric Aadhaar authentication for GST registration, and system-based monitoring of tax discrepancies. Direct tax compliance is enforced through notices, inquiries, and assessments. Since October 2023, GST at 28% is levied on online money gaming, which is classified as a “specified actionable claim” under the CGST Act. However, under direct tax laws, winnings from online games are not treated as income from gambling but are taxed under Section 115BBJ of the Income-tax Act.
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- 17 Mar 2025 07:11 PM
GST on Education: Coaching, Books & Exemptions
Source: https://taxguru.in/goods-and-service-tax/gst-education-coaching-books-exemptions.html
The Indian government applies an 18% Goods and Services Tax (GST) on commercial coaching and training services. However, services provided by educational institutions to their students, faculty, and staff are exempt from GST. Printed educational books under HSN Code 4901 are also exempt. GST revenue from taxable education services, specifically commercial coaching, has increased over the past three years, rising from ₹2,859.49 crore in 2021-22 to ₹4,793.24 crore in 2023-24. The GST Council, comprising Union and State/UT members, determines GST rates and exemptions. Additional exemptions exist for services provided to educational institutions up to higher secondary level, including student transportation, catering (mid-day meals), security, cleaning, examination services, and online educational journals (with some exceptions). No further measures to provide relief in GST to the education related services are proposed other than the current exemptions.
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- 17 Mar 2025 07:13 PM
Odisha Govt Clarifies GST Exemption on compensation for Land Acquisition
The Odisha Finance Department has issued a clarification regarding the non-applicability of Goods and Services Tax (GST) on compensation paid for land and structural acquisition. According to the Central GST Act, 2017, and Odisha GST Act, 2017, the sale of land or buildings is neither considered a supply of goods nor a supply of services, thereby placing it outside the scope of GST.
The notice highlights a recent case where government authorities erroneously paid GST on compensation amounts provided to private landowners during the acquisition process. The department has emphasized that such payments are incorrect and unnecessary, urging all government departments and subordinate offices to ensure compliance with GST regulations.
- 13 Mar 2025 05:31 PM
Centre ready to exempt health and life insurance from GST. Then why is the industry pitching for 12%?
New Delhi: There is unanimity on the need to reduce the goods and services tax (GST) on health and life insurance premia from 18%, but consensus eludes on what the final rate should be: nil, 5% or 12%.
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- 13 Mar 2025 05:38 PM
AI, capital, startups & reforms will drive India’s growth to $8 trillion: Infosys’ Nandan Nilekani
India can accelerate to an $8 trillion economy by 2035 by unlocking AI, digital public infrastructure, capital access, entrepreneurship, and policy reforms, says Infosys co-founder Nandan Nilekani.
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- 12 Mar 2025 06:09 PM
India’s GDP growth revisions shouldn’t raise eyebrows: They’re routine
The National Statistical Office (NSO) recently released the first revised estimates of India’s gross domestic product (GDP) for 2023-24, revising the GDP growth rate at constant prices from the earlier provisional estimate of 8.2% to 9.2%.
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- 10 Mar 2025 06:54 PM
Govt seeks House nod for extra spending of ₹51,400 crore in FY25, mainly for subsidies
The government also sought House approval for an extra ₹6.27 trillion spending, mainly for repayment of debt.
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- 10 Mar 2025 06:44 PM
GST rate cut soon, tax review in final stages, says FM Nirmala Sitharaman
Sitharaman said that the ministerial group set up by the GST Council has done excellent work, which is in final stages now and that the minister would take one more look at the proposals and take it to the federal indirect tax body for decision making.
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