Issue of GST on redevelopment may get deferred
The issue of goods and services tax (GST) on services related to redevelopment projects by cooperative societies is on the agenda of the GST Council meeting on October 7.
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The issue of goods and services tax (GST) on services related to redevelopment projects by cooperative societies is on the agenda of the GST Council meeting on October 7.
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The Goods and Services Tax (GST) Council is expected to review progress in antiprofiteering matters in its upcoming meeting on Saturday.
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The Delhi Customs is committed to the Swachhata Special Campaign 3.0 of the Department of Administrative Reforms and Public Grievances (DARPG) to augment cleanliness and elevate the workplace experiences in the Government offices. As part of the campaign, Air Cargo (Import) Commissionerate, Delhi Customs Zone, weeded out old papers/ documents weighing approx. 20 tonnes from the Air Cargo Import shed, freeing up over 1,200 square feet of space.
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The GSTN has issued Advisory No. 606 dated October 06, 2023 in respect of the introduction of Compliance Pertaining to DRC-01C (Difference in Input Tax Credit (ITC) available in GSTR-2B & ITC claimed in the GSTR-3B
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The GST fitment committee felt that the change is not required as the bidi industry is a small scale industry and so it was kept free from cess.
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There will be no reduction in the goods and services tax (GST) rate on electric vehicles (EV) batteries as the GST Council’s fitment committee has rejected the industry’s proposal, sources told CNBC-TV18.
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As online gaming companies are devising ingenious ways to compensate their customers for goods and service tax (GST) deductions on their deposits, industry executives on Wednesday said the move will force smaller firms to shut down and increase barriers for new entrants in the sector – leading to a significant consolidation in the online gaming space.
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Guiltfree Industries Limited, a food-focused FMCG firm under Sanjiv Goenka’s RPSG Group received a Rs 39.14 crore GST demand notice, the company said on Sunday.
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The Punjab Pradesh Beopar Mandal (PPBM) has demanded from the GST Council to increase the exemption limit to Rs 1.5 crore from present Rs 40 lakh for ease of doing business. The demand was made by traders mobilised during a conference of dealers held here last night.
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A committee of tax professionals and traders on Goods and Services Tax on Tuesday urged state government to constitute GST Appellate Tribunal in Indore.
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Corporate guarantees given in favour of related parties will be liable for 18 per cent goods and services tax (GST) on 1 per cent of the amount guaranteed or on the actual consideration, whichever is higher. However, personal guarantees offered by the promoter or director of the company might not attract tax.
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The Directorate General of GST Intelligence (DGGI), which has issued over a dozen show cause notices to real-money gaming platforms, has calculated the dues on the actual bets placed on portals since 2017, sources in the know told ET.
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The GST Council is likely to discuss lowering of Goods and Services Tax (GST) rate from the current 28 percent on motor vehicles purchased by the visually impaired, in its October 7 meeting, a person aware of the development has said. The issue will be discussed in the Council after a Madras High Court decision which stated that the visually impaired petitioner is eligible for the concessional GST rate on the purchase of motor vehicles, the person told Moneycontrol.
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The GST Council on October 7 is likely to take up the contentious issue of levying GST on the personal guarantees provided by the Directors of the company to the banks in return for obtaining financial assistance. In addition, the tax implication of corporate guarantee in favour of a subsidiary company will also be discussed in the meeting, as per sources.
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The Goods and Services Tax Council, the joint forum of the Centre and states, is likely to exempt millet flour food preparations from GST by slashing the current 18 percent levy to nil, sources have told Moneycontrol.
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The fitment committee of the Goods and Services Tax (GST) Council has recommended the exemption of goods and services GST on powdered millet sold in loose form where 70% millet is used. It has recommended 12% GST for millets sold in prepacked and branded form. The committee refused to give any incentive for prepared produce made out of millet.
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Bajaj Allianz gets GST demand notice for Rs 1,010 crore on Tuesday. It received the show cause cum demand notice from the Directorate of GST Intelligence for the non-payment of GST on co-insurance and re-insurance premiums, said Bajaj Finserv in its stock exchange filing on Tuesday.
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E-commerce marketplace Meesho on Tuesday announced that it is set to welcome non-GST registered sellers to its platform. This will benefit a vast network of small e-commerce businesses across the country.
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A spate of GST demand notices have been served on Indian companies in recent weeks in cases where overseas staff have been deputed to India.
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The wait for clarity on how much and on which crypto transactions the goods and services (GST) would be levied seems longer as the states panel nominated by the GST Council in 2022 has expressed its inability to submit a paper on taxation of crypto assets, sources told CNBC-TV18.
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The CBIC issued Circular No. 24 /2023-Customs dated September 30, 2023 regarding the implementation of Section 16(4) of the IGST Act related to the restriction on the export of certain goods on payment of IGST and coverage under the refund mechanism.
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