"Gst Council"
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Companies gear up for litigation on GST anti-profiteering clauseCompanies challenge NAA's methodology, seek remedy in GST Appellate Tribunal. Complexity arises due to lack of clear methodology for individual calculations. FMCG argues increased costs during GST..IndiaTimes - Published | |
India: Online Gaming – Are All Bets Off? Who Wins? Who Loses? - Nexdigm Private LimitedThe GST Council in its 50th and 51st meetings had recommended to levy GST on Casino, Horse Racing and Online gaming at the uniform rate of 28% on full face value.Mondaq - Published | |
Modi government gets elbow room for policy tweaksThe GST Council has taken decisions by consensus, but state finance ministers from Opposition-ruled states blame the Centre. The victory in Rajasthan and Chhattisgarh strengthens the Centre's hand,..IndiaTimes - Published | |
GST council's role only recommendatory: High CourtThe Madras high court has held that the GST council's role, particularly in product classification, is only recommendatory. In Parle Agro's case, the court determined 'flavored milk' to be under a..IndiaTimes - Published | |
India: GST Council Cannot Determine Classification Of Goods – Flavoured Milk Made From Dairy Milk Is Not 'Beverage Containing Milk' Under Heading 2202 - Lakshmikumaran & Sridharan AttorneysThe Single Bench of the Madras High Court has held that the function of the GST Council is not to determine the classification of goods under the provisions...Mondaq - Published | |
UP Finance Minister Suresh Khanna becomes convenor of GoM of GST CouncilUttar Pradesh's Finance Minister, Suresh Khanna, has been appointed as the convenor for the Group of Ministers (GoM) by the GST Council to review tax rates on goods and services. The decision was made..IndiaTimes - Published | |
India: Taxability Of Personal And Corporate Guarantee: Insights From The GST Council - JSAIn its 52nd meeting held on October 7, 2023, the Goods and Services Tax Council ("GST Council") clarified the position on taxability of: (a) personal guarantees...Mondaq - Published | |
GST Council’s view on taxability of corporate guarantee is a mixed bag, say expertsThe GST council has clarified that corporate guarantees given by a parent company to its subsidiary will be subject to goods and services tax (GST). This decision has implications for holding companies..IndiaTimes - Published | |
GST Council likely to clarify premium on life insuranceThe GST Council will provide clarity on input tax credit for life insurers, following a demand on Life Insurance Corporation (LIC). The issue arises from the complication of GST being levied on only a..IndiaTimes - Published | |
GST Amnesty Scheme: Big Relief Announced For Taxpayers At 52nd GST Council Meet - Check HereIn its meeting on Saturday, the 52nd GST Council extended the deadline for GST-registered enterprises to file appeals with an increased pre-deposit of 12.5 percent of the tax demand.Zee News - Published | |
GST Council cuts tax on molasses from 28 to 5 percent, clarifies on guarantees by corporates to subsidiariesBriefing after the 52nd GST council meeting, Finance Minister Nirmala Sitharaman said the reduction in GST on molasses will benefit sugarcane farmers and enable their dues to be cleared faster because..DNA - Published | |
GST amnesty scheme: Taxpayers can file appeals by Jan 2024 against demand orders till MarchThe GST Council has introduced an amnesty scheme allowing taxpayers until January 31, 2024, to file appeals against demand orders issued by tax officers until March 2023. The scheme also includes an..IndiaTimes - Published | |
GST Council decides to levy 5 pc tax on millet-based flour, if sold in pre-packaged and labelled form: FMIn the 52nd GST Council meeting, India decided to impose a 5% GST on pre-packaged and labeled millet-based flour, while loose sales will have zero GST if containing at least 70% millets. Age limits for..IndiaTimes - Published | GST Council decides to cut tax on molasses to 5%The GST Council on Saturday decided to reduce GST on molasses to 5 per cent, from 18 per cent, and exempt alcohol for human consumption from the levy. Chhattisgarh Deputy Chief Minister T S Singh Deo,..IndiaTimes - Published |
GST Council meeting: Tax rates, online gaming, policy changes; know what's on agendaThe 52nd meeting is aimed at discussing critical issues affecting the Indian tax system and finding collaborative solutions.DNA - Published | No GST cut seen on cement, Li-ion cellsThe GST Council is set to discuss the appointment of members to proposed tribunals during their meeting on Saturday. However, there are no expected changes to levies on cement, health insurance..IndiaTimes - Published |
GST Council to decide on taxing corporate, personal guarantees: SourceIndiaTimes - Published | India: GST Update Dated 04.10.2023 - J.P. AssociatesNo GST reduction on EV batteries as the GST Council's fitment committee has rejected proposal. EV industry sought reduction of GST on batteries...Mondaq - Published |
GST Council To Meet On Oct 7; Check What's In AgendaThe amendments also make registration mandatory for offshore e-gaming companies operating in India. It also provides for blocking of access in case offshore platforms fail to comply with GST..Zee News - Published | 28% levy on casinos, online games to stay: GST CouncilIndiaTimes - Published |
28% GST on online gaming likely from October 1: FMUnion finance minister Nirmala Sitharaman on Wednesday said that 28% GST on online gaming will hopefully be effective from October 1, 2023.Speaking to reporters after the GST Council meeting,..IndiaTimes - Published | GST Council to virtually meet tomorrow, discuss taxation on online gamingnewKerala.com - Published |
GST Council likely to finalise modalities for taxing online gaming, casinos on WednesdayThe GST Council in its last meeting on July 11 approved levying 28 per cent tax on full face value of bets in online gaming, casinos and horse racing.DNA - Published Also reported by •IndiaTimes | 28% GST on e-gaming, casinos is here to stayRuling out any change in the proposed 28% GST on online gaming and casinos, government sources said it is prudent to stick to levying tax on the gross value as any other method comes with complications..IndiaTimes - Published |
India: Gist Of Circulars Issued By CBIC On 17 July 2023 - Nexdigm Private LimitedThe Central Board of Indirect Taxes and Customs (CBIC) issued various Circulars on 17 July 2023 to clarify the recommendations made in the 50th GST Council meeting held on 11 July 2023.Mondaq - Published | From online gaming to eating in movie theatres, here's a list of things that got expensive and cheaperThe GST Council had a meeting on Tuesday and made some significant decisions. Check what got expensive and what got cheaper.DNA - Published |
SUVs To Get Expensive; GST Council Proposes New Cess Slabs - Check HereThe GST council has set new rules to identify SUVs, and the body style will now attract more taxes as the councils sets new cess slabs.Zee News - Published | Online games face 28% GST; cola, popcorn in movie halls to cost lessThe GST Council on Tuesday decided to levy 28% tax on the face value of “bets placed” on online games, chips purchased at casinos and bets placed with bookmakers at horse races, while slashing the..IndiaTimes - Published |
GST Council Decides To Impose 28% Tax On Turnover Of Online Gaming FirmsThe panel, headed by the Union finance minister and comprising of representatives of all states and UTs, decided on tax rate based on recommendation of a group of ministers that looked at taxing..Zee News - Published | GST Council agrees to levy 28% tax on online gaming, casinos and horse racing; check detailsThe GST Council has also approved the setting up of appellate tribunals.DNA - Published |
28% GST to be levied on full value of gaming, horse racing, casinosThe GST Council on Tuesday agreed to levy a 28 per cent tax on online gaming, casinos and horse racing and the tax would be levied on full face value. West Bengal finance minister Chandrima..IndiaTimes - Published | With GST being linked to ED, traders paying tax could also be arrested: Delhi CM Arvind KejriwalKejriwal hoped that people would oppose this development at the GST Council meeting on Tuesday.DNA - Published |
GST Council Meet Today, Likely To Take A Call On Taxing Heavy Utility Vehicles, Horse Racing, Online GamingSetting up of a GST Tribunal and framing of their rules may also be taken up for discussion during the meeting.Zee News - Published | GST Council meet today: Tax on online gaming, ITC claims among key matters on agendaGST Council is likely to take a final call on the recommendation of the Law Committee in its 50th meeting on Tuesday.DNA - Published |
GST Council Likely To Discuss Taxation Under ONDC During Meeting TomorrowUnder ONDC, a buyer places an order with an e-commerce platform, which itself procures that consignment from another e-commerce platform.Zee News - Published | GST Council to discuss industry demand of full CGST, 50% IGST refund in 11 hill statesIndiaTimes - Published |
GST council may mull steps to prevent fake generation of ITC in next meeting: OfficialnewKerala.com - Published | GST Council Meet On July 11, Likely To Discuss Steps To Prevent Fake Generation Of ITCChairman of Central Board of Indirect Taxes and Customs (CBIC), Vivek Johri said this while speaking to reporters at the sidelines of an event.Zee News - Published |
India: Key Highlights Of GST Notifications And Clarification Circulars In March 2023 - Nexdigm Private LimitedAs recommended in the GST Council's 49th meeting, with effect from 1 March 2023, 5% GST rate has been notified on Rab, when sold in pre-packaged and labeled...Mondaq - Published | India: Update On GST Council Meeting Held On February 18, 2023 - IndusLawThe 49th Goods and Services Tax ("GST") council meeting under the chairpersonship of the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman...Mondaq - Published |
Sisodia seeks removal of discrepancy in tax rates of 'papad' and 'kachri' at GST Council meetingnewKerala.com - Published | |
