The E-Gaming Federation (EGF), a self-regulatory body for the online gaming industry, is confident that issues around the recent GST changes which increased companies’ tax burden will be resolved soon.
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The Reserve Bank of India (RBI) refrained from surprising the market as on expected lines it kept policy rates and stance unchanged on Friday, December 8.
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The Goods and Services Tax (GST) evasion cases amounting to Rs 13,794 crore have been detected in Haryana during the current financial year up to October.
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Gautam Buddha Nagar police Thursday arrested four more persons in connection with its ongoing investigation into a GST fraud case. The police have recovered 54 SIM cards, 41 forged stamps, 18 forged Aadhaar cards, 16 forged PAN cards, and 20 bank chequebooks among other items from the accused.
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The Calcutta High Court has granted interim relief to a unit of Delta Corp. in a matter relating to the Rs 6,384 crore payment of the shortfall goods and services tax.
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The Kerala GST intelligence wing has arrested the director of a Thrissur-based multi-level marketing (MLM) company for alleged tax evasion to the tune of Rs 126 crore. This, officials said, is the biggest GST evasion case detected by the state GST department.
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Finance Minister Buggana Rajendranath Reddy has inaugurated a GST Seva Kendram and released the Vision and Mission of the Commercial Taxes Department. He has also released a compendium of Standard Operating Procedures (SoP), circulars and peer learning material related to State tax here on December 04, 2023.
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Fantasy sports platform Dream 11 has withdrawn its plea before the Bombay High Court challenging the GST show cause notice amounting to Rs 1221 crore issued by the Maharashtra state GST department.
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The Kerala Government will promulgate an Ordinance to amend the Kerala State Goods and Services Tax (GST) Act to bring in more clarity to the taxation provisions related to online money gaming and gambling.
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The Ministry of Finance informed Parliament on December 05, 2023 that not even a single offshore gambling and betting website has taken registration and starting paying 28% Goods and Services Tax (GST) on deposits, as mandated under the Integrated Goods and Services Tax (IGST) Act, 2017.
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The GSTN has recently released an update to introduce a valuable feature under the “My Profile” section known as “Address and Contacts” on the GST Portal. This new tab provides users with a comprehensive overview of key information related to the names of all promoters and authorized signatory individuals. Users can now conveniently access details such as mobile numbers, email addresses, and even physical addresses directly from this centralized screen.
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CBIC issues 33,000 notices for GST return discrepancies in FY18, FY19
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First, it was Rs 1.4 lakh crore of GST notices to online gaming, then Rs 1.5 lakh crore of notices to shipping companies and now the airline sector is under scanner.
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The Punjab and Haryana High Court has granted interim relief to BMW India on show cause notice issued for GST recovery on salaries paid to expats in Indian rupee. The company has been asked to give a detailed response by next month.
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The GST collection has been showing an upward trend on an annual basis since its rollout on July 1, 2017, and the average gross monthly mop-up in the current fiscal so far is Rs 1.66 lakh crore, Finance Minister Nirmala Sitharaman said on Monday.
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Finance Minister Nirmala Sitharaman on Tuesday said GST officers have detected 21,791 fake GST registrations and over Rs 24,000 crore of suspected tax evasion during a two-month-long special drive.
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The Thane cyber crime branch arrested a Chartered Accountant (CA) and one other person in the payment gateway firm by hacking into it in which Rs 25 crore was siphoned. The duo aided the primary accused to route money hacked to various countries like China, Hong Kong and Singapore.
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The Institute of Cost Accountants of India (ICMAI) has released an important guidance note on the preparation and filing of the Goods and Services Tax (GST) Form GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement).
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As of the latest update from the GST E-invoice system on December 04, 2023, it has been mandated that a minimum of 6 digits of the HSN code will be compulsory in e-Invoices for taxpayers with an Aggregate Annual Turnover (AATO) of 5 Crore and above. This requirement will come into effect from December 15, 2023.
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The Institute of Chartered Accountants of India (“ICAI”) released the Very Important Technical Guide on GST Reconciliation Statement (Form GSTR 9C), (November 2023).
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