- 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
- New
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 05:32 PM
- New
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
- 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 05:36 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 05:41 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
- 03 Aug 2023 06:01 PM
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.
Read More
- 03 Aug 2023 05:51 PM
GST Council to review 28% tax on online gaming 6 months after implementation
The GST Council will review the implementation of 28 per cent tax on online gaming, casinos six months after it comes into effect from October 1.
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