- 03 Aug 2023 06:01 PM
- New
GST law on online gaming from 1 October; review after 6 months
NEW DELHI : The Goods and Services Tax (GST) Council, in a divided decision, decided to amend central and state laws from 1 October to ensure that 28% GST is paid on the full value of amounts deposited by players for betting on online games, casinos, and horse races. However, redeployed winnings will be excluded from the indirect taxation.
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- 03 Aug 2023 06:09 PM
- New
Recommendations of 51st GST Council Meeting
Source: https://taxguru.in/goods-and-service-tax/recommendations-51st-gst-council-meeting.html
GST Council recommends certain amendments in CGST Act 2017 and IGST Act 2017, including amendment in Schedule III of CGST Act, 2017, to provide clarity on taxation of supplies in casinos, horse racing and online gaming
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- 03 Aug 2023 06:12 PM
- New
Rising GST & Tax Evasion: An Insight into Efforts & Statistics
Source: https://taxguru.in/goods-and-service-tax/rising-gst-tax-evasion-insight-efforts-statistics.html
In a rapidly digitising world, ensuring tax compliance has become a challenging task for governments worldwide, and India is no exception. In response to a recent Lok Sabha query, the Government of India has shared insightful details on how they’re battling the rising challenge of GST and tax evasion, painting an intriguing picture of their strategies and achievements.
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- 02 Aug 2023 05:16 PM
GST Council meeting today: Officials may take key decision on 28% tax on online gaming
GST Council to discuss and decide on levying 28% GST on online gaming, casinos, and horse racing. Gamers and gaming companies have requested a revocation of the decision as it may hinder the growth of startups.
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- 02 Aug 2023 05:10 PM
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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- 02 Aug 2023 05:20 PM
GST Council meet today: Here is what to expect
Source: https://www.livemint.com/economy/gst-council-meet-today-here-is-what-to-expect-11690958234545.html
Federal indirect tax body, the Goods and Services Tax (GST) Council, will on Wednesday finalize the fine print of the indirect tax regime covering online gaming, casinos and horse racing and put in place ways to check any tax evasion. Mint takes a look at what to expect and why online gaming platforms are up in arms.
Federal indirect tax body, the Goods and Services Tax (GST) Council, will on Wednesday finalize the fine print of the indirect tax regime covering online gaming, casinos and horse racing and put in place ways to check any tax evasion. Mint takes a look at what to expect and why online gaming platforms are up in arms.
- 02 Aug 2023 05:31 PM
Impressive Growth in Monthly GST Collection for FY 2021-22 & FY 2022-23
The Ministry of Finance has disclosed the monthly average gross Goods and Services Tax (GST) collection for the financial years 2021-22 and 2022-23, showcasing significant year-on-year growth. This article provides a detailed analysis of the GST collection data, along with insights into the government’s reforms to enhance GST compliance and increase tax collection.
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- 02 Aug 2023 05:34 PM
July 2023 GST Revenue Collection: ₹1,65,105 Crore with 11% YoY Growth
Source: https://taxguru.in/goods-and-service-tax/july-2023-gst-revenue-collection-11-percent-yoy-growth.html
The Ministry of Finance, Government of India, has released the GST revenue collection data for July 2023. The figures show a significant increase in GST collections compared to the same period last year. This article provides an in-depth analysis of the revenue collection and its implications.
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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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- 01 Aug 2023 05:22 PM
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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