India’s popular online gaming and fantasy sports startup Mobile Premier League (MPL) is laying off 350 employees, representing about 50 per cent of its India workforce, reported Money control. This comes weeks after New Delhi implemented a 28 per cent tax on online real-money games.
Read More
Five people, including a head constable of the Delhi Police and a staffer of the Income Tax (IT) department, were arrested for allegedly conducting a fake raid at a businessman’s home in west Delhi’s Janakpuri area, the police said on August 06, 2023.
Read More
Tamil Nadu and Karnataka have outpaced the all-India average in GST collections in July, keeping up with their impressive performance in the first four months of this fiscal year. Telangana, on the other hand, has slipped into single digit year-on-year growth rate in July after clocking a double-digit growth in April, May and June.
Read More
The income-tax department has sent notices to many professionals who have earned income outside their regular salary but did not declare in their tax returns. Most of the notices issued were for financial years 2019-2020 and 2020-2021, people familiar with the matter told ET.
Read More
Finance Minister Nirmala Sitharaman on Tuesday said the 28 per cent GST on full face value of supplies in casinos, race courses and online gaming will result in higher revenues. The online gaming segment grew by 28 per cent in 2021 to reach USD 1.9 billion, as per NITI Aayog estimates referred in the Draft National Policy for Growth of Animation, Visual Effects, Gaming, Comic & Extended Reality sector in India prepared by the Information and Broadcasting Ministry.
Read More
Punjab finance and excise and taxation minister Harpal Singh Cheema on Monday said that the state has registered an increase of 16.5% and 20.87% in revenue from goods and services tax (GST) and excise, respectively, during the first four months of the financial year 2023-24. So far, a total of Rs12,322.71 crore has been received from the above said resources, which is 11.65% more as compared to the revenue collected from these during the same period in 2022-23”
Read More
Registered persons will be required to furnish details of their bank account (in the name and PAN of the registered person) within 30 days of grant of registration or before filing the statement of outward supply in Form GSTR-1/IFF under Section 37 of the CGST Act, whichever is earlier. The Council has now notified to declare bank details even before filing of Form GSTR-1. This change will help Government to safeguard its revenue.
Read More
GST evasion of Rs 14,302 crore detected in April-May; 28 persons arrested
Read More
2 GST tribunals to be functional from October
Read More
GST Council to discuss and decide on levying 28% GST on online gaming, casinos, and horse racing. Gamers and gaming companies have requested a revocation of the decision as it may hinder the growth of startups.
Read More
Clarifications regarding applicability of GST on certain services
Read More
Clarification regarding GST rates and classification of certain goods based on the recommendations of the GST Council in its 50th meeting held on 11th July, 2023–
Read More
GSTN introduces New Tabs in ‘State Specific Information’ to Collect ‘CA Number/Electricity Consumer Number’
Read More
INR 1,48,995 crore gross GST revenue collected in the month of July 2022
Read More
Important Update: GSTN introduced a new tab, Rule-86B, which restricts the use of the amount available in the Electronic Credit Ledger
Read More
1 lakh notices sent for not filing income tax returns: Nirmala Sitharaman
Read More
Income Tax dept sends 100,000 notices over under-reported income
Read More
GSTN issued Important advisory on e-Invoice exemption declaration functionality now available
Read More
GSTN released the offline utility for GSTR-9 and GSTR-9C for the FY 2022-2023
Read More
Clarification on the issue pertaining to e-invoice
Read More
