A meeting of the GST Council is scheduled to be held on October 7. The Council is likely to review the progress with regard to implementation of amendments in the SGST law by different states.
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The GST Council, chaired by the Union finance minister and comprising state ministers, will meet on October 7. It is likely to consider reducing the tax on millet-based health drinks from 18 per cent and discuss the implementation of GST on online gaming among others.
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The federal indirect tax body, the Goods and Services Tax (GST) Council, will meet on 7 October to iron out certain issues relating to setting up of GST appellate tribunal and its benches across the country.
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The Goods and Services Tax Network (“GSTN”) issued Advisory No. 604 dated September 27, 2023 on Temporary /Short Period Pause in e-Invoice Auto Population into GSTR-1. GSTN wishes to inform you that the auto population of e-Invoice in GSTR-1 is temporarily halted due to essential system upgrades, which will involve the implementation of e-Invoice JSON download functionality.
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The online gaming industry is under fire once again, this time with multiple demand notices and show-cause notices being issued against companies for what the taxman claims are unpaid Goods and Services Tax (GST).
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The DGFT vide Notification No. 33/2023 dated September 26, 2023, has extended the RoDTEP scheme for exports made from October 01, 2023 and shall be applicable till June 30, 2024.
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The vigilance wing of the state Goods and Services Tax (GST) department has unearthed a Rs 150-crore scam involving 17 traders and two Mumbai-based tax officers. As per the investigation into the matter, the masterminds allegedly formed 40 shell companies and named contractual workers, porters, hotel waiters and drivers as their directors.
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The CBIC vide Notification No. 47/2023-Central Tax dated September 25, 2023, has earlier notified special procedure which shall be followed by registered persons engaged in manufacturing of Pan Masala & Tobacco products. Now, it has been provided that this new procedure shall be effective from January 01, 2024.
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The Centre is working on a database of suppliers that will rank them on the basis of their goods and services tax (GST) compliance track record, credit history, transaction and supply history besides any past defaults. The mechanism could be brought in the upcoming vote-on-account and introduced from the next financial year.
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The Goods and Services Tax (GST) Commissionerate Monday seized assets worth Rs 19 crore from a sugar factory owned by BJP national secretary Pankaja Munde in Maharashtra’s Beed district for GST evasion on sugar sales.
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A recent tweet by the GST Council’s Official Twitter handle stated that the 52nd meeting of the GST Council has been scheduled to be held on October 07, 2023, at Vigyan Bhawan, New Delhi.
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Dream11 parent Dream Sports (Sporta Technologies Private Limited) has filed a writ petition in the Bombay High Court challenging the show cause notice issued by the tax authorities for alleged GST evasion and not paying 28 percent GST on the face value of bets, Moneycontrol has learnt.
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Union Finance Secretary and senior IAS officer T.V. Somanathan on Saturday said Artificial Intelligence (AI) can replace the work being done by auditors and accountants.
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North Eastern states have benefitted from the implementation of Goods and Services Tax (GST) by way of a big jump in their revenue collections after the tax reform in 2017, finance minister Nirmala Sitharaman said at an event on Saturday.
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Casino operator Delta Corp has received tax notices totalling Rs 16,822 crore from the Directorate General of GST Intelligence on Friday. This demand is for the period between July 2017 and March 2022.
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About 80 online gaming companies are likely to face tax notices for alleged goods and services tax (GST) evasion of Rs10,000-12,000 crore, according to a senior government official.
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Despite promising the state two benches of the GST Appellate Tribunal, the union finance ministry has issued a notification allocating only one bench to Kerala and Lakshadweep. This has caused confusion and disappointment in Kerala, where the state government had already passed a Bill to set up two benches. The state has now requested the union government to clarify the situation.
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The Life Insurance Corporation of India received a Goods and Services Tax receipt, including interest and penalty, of over Rs 290 crore from the Bihar state tax officials.
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The Directorate-General of Goods and Services Tax Intelligence (DGGI) has upped the quantum of alleged tax evasion by online gaming companies to nearly Rs 31,000 crore. Official sources told BT TV that the authorities are in the process of sending show cause notices, adding that they suspect around 80 online gaming companies to be involved in this.
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The Goods and Services Tax Network (“GSTN”) has now added a new ‘Track Application Status’ tab to the GST registration process. When a person needs to file further clarifications, they can log in with their Temporary Reference Number (“TRN”) and access this tab. In the past, tracking the application status had to be done separately from the Registration Dashboard on the GST Portal.
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“Economic activity maintained its momentum. High frequency indicators suggest that the second quarter of FY24 is shaping up well too,” said the Monthly Economic Review of the ministry.
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