People with knowledge of the situation say that the Group of Ministers (GoM) that was set up to review the goods and services tax (GST) on online gaming, casinos, and horse racing is likely to keep the 18% tax on gross gaming revenue (GGR). The GoM, which is led by the chief minister of Meghalaya, … Read more

Now more ease in GST e-invoicing generating services to large tax payers. Clear Channel has opened its invoice registration platform (IRP), businesses throughout the nation can produce their electronic invoices for the goods and services tax (GST). Previously, only the NIC site could be used by businesses to generate these invoices. On the other hand, … Read more

Government is thinking about GST refunds for foreign tourists’ purchases are about to be implemented. Given that the government intends to address the long-pending issue soon, foreign tourists may soon be able to claim refunds on the goods and services tax (GST) they paid when buying in India. Sources indicate that the process and rules … Read more

Eventually, 4-Digit HSN codes to be Banned from use In GST E-Invoice. After the recent addition of more IRPs, the Goods and Services Tax (GST) e-Invoice System is about to go through a big change in the coming weeks. In a few weeks, the e-invoice portal will stop accepting 4-digit Harmonic Nomenclature System (HSN) Codes … Read more

Three TMT bar suppliers were apprehended by the GST intelligence unit for conducting illegal business to the tune of Rs.834 crore, resulting in GST evasion of Rs.150 crore. Using this data, the intelligence team on Thursday launched a simultaneous search operation at the homes of three high-profile tax payers who are involved in the supply … Read more

Throughout the five years of GST fraud, Rs 3.11 million crore was taken, with just Rs 1.03 million crore recovered. With a total of Rs 60,000 crore in misappropriation discovered across all states, Maharashtra led the list, followed by Rs 40,507 crore in Karnataka, Rs 26,156 crore in Gujarat, and Rs 24,217 crore in Delhi. … Read more

Real estate professionals and developers want the government to rationalise the GST on under construction properties in order to stimulate sales. As a result of having to pay GST in addition to stamp duty and registration fees, the sale of properties under construction has declined. Pankaj Kapoor, an expert in real estate and the founder … Read more

every one has common question about do restaurants charge GST? It’s always enjoyable to go out with family and friends. We dine and drink while having a good time together. Before saying goodbye, we hurriedly settle our bills, but we frequently overlook the amount subject to the Goods and Services Tax, or GST. Even though … Read more

Online gaming industries opposes the changes in TDS and GST on online gaming. The online gaming industries has gone to the Central Board of Direct Taxes (CBDT) and the Prime Minister’s Office (PMO) to oppose changes to tax deduction at source (TDS) and Goods and Service Tax (GST) that would affect the sector. On February … Read more

Actions has been taken against GST fake billing in past 2 years after introduction of GST. After GST was implemented, there was more tax evasion, so the state government seems to have made it harder for people to get away with it. In Gujarat, where fake billing scams and tax evasion are becoming more common, … Read more