Bengaluru-based gaming platform Gameskraft is discontinuing its fantasy offering Gamezy Fantasy — which allowed cricket enthusiasts to pick virtual teams, participate in virtual tournaments and win prizes — from Monday.
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Madhya Pradesh state government is now set to approve the Ordinance for new GST rates on online gaming. The Ordinance will be presented in the cabinet meeting, which is planned for September 16. Notably, the meeting will be chaired by the Chief Minister Shivraj Singh Chouhan.
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In a recent meeting convened by deputy CM Ajit Pawar to discuss additional revenue sources in the wake of the rising fiscal deficit, the Goods and Services Tax (GST) department proposed a hike in the tax on liquor served in restaurants and hotels below the grade of 3 stars. Such places currently pay 5 percent, and the proposal is to up this to 10 to 15 percent, which will help the government increase revenue by Rs 300 to Rs 600 crore annually.
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On Friday, the Supreme Court issued notice on a petition filed by the Madras Tax Bar challenging the constitutional validity of Sections 149 and 150 of the Finance Act, 2023 that seek to substitute Sections 109 and 110 of the Central Goods and Services Tax Act, 2017 (CGST Act). The sections in question relate to appointments and conditions of service of members to the Appellate Tribunal under the CGST Act.
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Karnataka’s Chief Minister Siddaramaiah on Thursday pushed the state’s revenue-generating departments to increase tax efficiency even as three of them have mopped up Rs 57,142 crore so far this fiscal.
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The CBIC issued Circular No. 21/2023-Customs dated September 14, 2023 regarding the norms for posting of officers and benchmark performance criteria while granting exemption from payment of Cost Recovery Charges (“CRC”) at Air Freight Stations (“AFS”).
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The Goods and Services Tax (GST) authorities are likely to continue the follow-up investigations on over 1.25 lakh entities till December to plug revenue leakages, a senior government official told Moneycontrol on September 15.
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The Nagaland Legislative Assembly (NLA) on Thursday passed the Nagaland Anatomy Bill 2023 by voice vote. The Bill is to provide for the supply of unclaimed bodies of deceased and for donation before death by a person of his body or any part thereof after his death to hospital and medical and teaching institution or for the purpose of medical education or research including anatomical examinations and dissection.
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Banks are facing uncertainty on the applicability of goods and services tax (GST) on the use of a common brand name of the bank by all its branches and subsidiaries, said two people privy to the development.
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The Ministry of Finance, Department of Revenue, issued Notification vide F. No. A-50050/150/2018-CESTAT-DoR dated September 14, 2023, in accordance with the Central Goods and Services Tax Act, 2017, and superseding previous notifications, has established State Benches of the Goods and Services Tax Appellate Tribunal.
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It is not just customers who look forward to the festive season in hopes of discounts and freebies – dealers, too, get target-based incentives, ranging from gold coins to white goods, from manufacturers. In a relief for manufacturers, they will be able to claim credit for the tax paid on purchase of such incentives.
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The Gautam Budh Nagar cybercrime police arrested three people on Tuesday for allegedly duping a retired government officer in Noida of Rs 2.54 crore on the pretext of online trading, police said on Wednesday.
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About 40 online gaming companies are likely to soon receive show-cause notices from the Goods and Services Tax (GST) authorities for alleged tax evasion after the Supreme Court stayed a Karnataka High Court judgment, quashing a GST notice against Gameskraft Technology Private Limited (GTPL) for alleged tax evasion to the tune of Rs 21,000 crore, two senior government officials said.
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The Federation of Automobile Dealers Associations on Thursday asked for the reduction in GST rates on entry-level two-wheelers to 18 per cent, saying the segment has not recovered from the impact of the COVID-19 pandemic.
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The Gujarat government has decided to put in place a passport-like mechanism, wherein the applicant undergoes police verification, in the GST registration process to tackle bogus billing, the legislative assembly was informed on Wednesday.
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A 43-year-old man from Maharashtra’s Thane district has been arrested for allegedly posing as a CBI officer and cheating a person of Rs 26 lakh, police said on Wednesday.
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The State Cabinet on Tuesday approved the amendments of the Meghalaya Goods and Services Tax, 2017, Meghalaya Medical Council and National Law University.
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It is to inform you that it has been decided by the Government to impose a time limit on reporting old invoices on the e-invoice IRP portals for taxpayers with AATO greater than 100 crores.
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With the Supreme Court (SC) staying the Karnataka High Court’s (HC) judgment quashing a goods and services tax (GST) notice against Bengaluru-based online gaming company Gameskraft Technology for alleged tax evasion worth Rs 21,000 crore, the Central Board of Indirect Taxes and Customs (CBIC) is likely to issue a demand notice with penalty soon, three senior government officials said.
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Union Minister Nitin Gadkari said on Tuesday that he plans to propose imposing an additional 10 per cent tax on diesel engine vehicles. Speaking at the 63rs SIAM Annual Convention, Gadkari said that he will make this proposal to Finance Minister Nirmala Sitharaman later in the day.
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The Supreme Court has ruled that since appeal is a statutory remedy, the assessee cannot be barred from seeking restoration of the appeal which was withdrawn by him as a pre-condition for availing the benefit under an Amnesty scheme, if the assessee is subsequently unsuccessful in availing the benefit of the scheme.
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