At the moment, GST on online gaming 18%. Since the Goods and Services Tax Council hasn’t set a date for its next meeting yet, the online gaming industry will have to wait longer to find out how the indirect tax will be applied to it. Officials from the Ministry of Finance have said that for … Read more
Merchandise exporters will have to pay an 18% GST on Shipping cost (means 18% gst on goods transportation services), which the industry says will cause cash flow problems at a time when exports are declining. This is in response to a GST Council recommendation that the location of the service recipient should be used to … Read more
As soon as the Center approves the final payment of GST compensation to the states, the new tax system will have abandoned its early support. The adjustment may be challenging for some states. Nonetheless, monthly GST receipts across the country have stabilised at around Rs 1.5 lakh crore, with room for growth through rate rationalisation … Read more
Co-working owners demanding for Easier GST Registration to Centre Tax experts and people who run co-working spaces have asked the Centre to make it easier for businesses that work from shared spaces to sign up for GST. The request comes after GST officers asked for a lot of paperwork, like registered leases and permission from … Read more
Till today several GST frauds disclosed. The trend of India’s monthly goods and services tax revenue reaching Rs 1.5 lakh crore and becoming the “new normal” has been applauded by the North Block. The Central Board of Indirect Taxes and Customs’ Vivek Johri professed confidence in breaking beyond this barrier in the upcoming fiscal year, … Read more
Government has issued GST Advisory for GST Portal to accept the Negative Value of ITC in Table 4A of GSTR-3B from January-2023 onwards. All the impact of credit notes as well as amendments will be considered in Table 4A from now onwards instead of Table 4B of GSTR-3B Introduction of Negative Values in Table 4 … Read more
This article covers all recommendations of 49th GST Council Meeting held on 18th February, 2023 at New Delhi. The GST Council has met 49 times since its constitution, and many important decisions were taken in this 49th GST Council meeting. Last GST council meeting held in new Delhi on 17th December,2022. This 49th GST Council … Read more
FM Says : No AG certificate has been received from Kerala in a year. The lack of authenticated certificates from the Accountant General (AG), according to Union Finance Minister Nirmala Sitharaman, is to blame for the delay in the payment of Goods and Services Tax (GST) compensation to several states The process for the AG’s … Read more
The proposal to raise the rate of GST compensation cess applicable to MUVs, at par with SUVs falling under the same criteria of car length, engine capacity, among others, is likely to be deferred at the upcoming GST Council meeting, scheduled to take place on February 18. This will provide auto manufacturers with a temporary … Read more
Wednesday, Finance Minister Nirmala Sitharaman warned that petroleum goods may soon be subject to GST. The comments were made only a few months after Petroleum and Natural Gas Minister Hardeep Singh Puri stated that the central government was prepared to include gasoline and diesel in the GST. It might be accomplished if there was an … Read more