- 12 Jul 2023 06:59 PM
- New
28% GST rate on online gaming impact: Why Nazara Tech shares fall is limited while Delta Corp stock drop nearly 30%?
The 28% GST rate imposed on the full value of online gaming stole the limelight after the 50th GST Council meeting. On the expected lines, online gaming stocks reacted on a bearish note on Wednesday. Experts believe the 28% tax rate is a setback for Indian players. Interestingly, Rekha Jhunjhunwala-backed Nazara Technologies' share price fall is limited, on the other, Delta Corp stock is bleeding to drop by nearly 30%.
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- 11 Jul 2023 07:38 PM
- New
Bringing GST under PMLA could lead to tax terrorism
On July 8 the Indian government amended provisions of the Prevention of Money Laundering Act (PMLA) to allow the Enforcement Directorate and the Financial Intelligence Unit to share information with the GST Network.
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- 11 Jul 2023 06:32 PM
- New
Rationalisation in GST rates should be implemented gradually, says CBIC Chairman Vivek Johri ahead of Council meeting
Vivek Johri, Chairman of CBIC, has stated that any changes to GST rates should be implemented gradually to ensure stability of revenues. He expects the current slab structure to eventually converge towards three or four rates.
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- 11 Jul 2023 06:38 PM
GST Council meeting tomorrow: Opposition states likely to pressure Centre over compensation
Compensation to states for lower-than-promised revenue growth under the GST system may be discussed at the GST Council meeting. Opposition-ruled states such as Kerala and Chhattisgarh are likely to raise the issue.
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- 11 Jul 2023 06:41 PM
50th GST Council to meet on July 11: Online gaming tax, ITC claims among key items on agenda; check details
The goods and services tax (GST) council at its 50th meeting scheduled for tomorrow, July 11, is likely to deliberate on a host of issues including taxation of online gaming, definition of utility vehicles and tightening of norms for registration and claiming input tax credit (ITC). The GST Council is chaired by finance minister Nirmala Sitharaman and comprises a panel of state representatives. The meeting will be conducted at Vigyan Bhawan in New Delhi.
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- 11 Jul 2023 06:47 PM
Improving revenue collection to figure in GST meet today
NEW DELHI : A string of changes to rules and procedures seeking to improve the efficiency of the goods and services tax system and to step up tax collections will be in focus at Tuesday’s GST Council meeting, according to a person informed about discussions between Central and state governments.
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- 11 Jul 2023 07:06 PM
GST Council Meeting LIVE: 28% GST rate on full value of online gaming , horse racing, casinos; key highlights here
GST Council meeting: The 50th GST Council meeting will be held today (11 July) in New Delhi. Union Finance Minister Nirmala Sitharaman will chair the meeting wherein the Group of Ministers (GoM) are likely to discuss taxation on online gaming, casino, and horse racing. Besides online gaming, the Council is also expected to discuss and finalise the constitution of a GST Tribunal and its benches. The Council has been instrumental in deciding key issues related to the GST such as tax rates, exemptions, thresholds, and administrative procedures. So far, the Council has held 49 meetings and its decisions have had a significant impact on the GST implementation in India.
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- 11 Jul 2023 06:57 PM
IBA seeks lower tax on fruit fizz drinks, sin goods delisting
New Delhi: Industry body Indian Beverage Association (IBA), which represents interests of the domestic beverage industry, has written to the government, seeking lower taxes on fruit-based fizzy drinks, as well as requesting the removal of such products from the “sin" goods category.
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- 11 Jul 2023 07:32 PM
50th GST Council meeting today: Here's what is expected to become cheaper and dearer
The 50th GST Council meeting: Items that may become cheaper include F&B inside cinema halls and medicines, while online gaming, casinos, and horse racing may become dearer. MUVs and XUVs may also become more expensive.
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- 10 Jul 2023 05:49 PM
Here’s how India can turbocharge e-commerce exports
The Foreign Trade Policy (FTP) 2023, unveiled in April, gave special attention to the needs of the booming sector, but the government needs to do more to improve the ease of doing business, especially for tiny companies
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