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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India’s Road Transport Minister Nitin Gadkari on Tuesday pushed for green fuels, requesting people to shift away from polluting fuels like petrol, diesel. He further added in case, there continues to be excessive usage of diesel-run vehicles and generators, then he might consider proposing an additional 10% tax on them as ‘pollution tax’. Immediately after the announcement, auto stocks took a sharp plunge, including Maruti and Tata Motors.
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The Supreme Court’s final decision in the GST department’s alleged Rs 21,000 crore goods and services tax (GST) evasion case against skill gaming firm, Gameskraft, will determine the fate of the retrospective GST liabilities for all real-money gaming companies, according to legal experts.
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Businesses with Aggregate Annual Turnover (AATO) over Rs 100 crore will not be allowed to report e-invoices older than 30 days on the date of reporting under the goods and services tax (GST) from November 01, 2023.
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The GST e-invoice system issued an Update on September 11, 2023, indicating that, as per the directives of the GST Authority, a 30-day time limit for reporting invoices from the date of their issuance is now mandatory for e-invoice portals.
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The GST e-invoice system issued an Update on September 11, 2023, mandating 2-Factor Authentication for all taxpayers with Aggregate Annual Turnover (“AATO”) exceeding Rs 20 Cr, effective from November 1, 2023.
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Commercial real estate developers leasing their properties are receiving notices about blocked credit eligibility under sections 17 (5) C and 17 (5) D even as the case is being argued at the Supreme Court, say real estate industry stakeholders.
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Goa saw a robust 23% increase in GST collections over the first five months of the financial year thanks to a resilient tourism sector, as well as stronger enforcement and strict compliance by the state tax department.
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Pidilite Industries, a leading adhesive, waterproofing solutions and construction chemicals maker on Saturday said a fine of Rs 2.64 lakh has been imposed on the company by the GST department.
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Police have booked a businessman for cheating the UT excise department of Rs 12.36 crore through fake input tax credit claims.
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Games, schemes, competitions or activities, irrespective of whether the outcome is based on skill, chance or both is now part of the ordinance and includes betting, casinos, gambling, horse racing, lottery or online money gaming.
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The camp registered more than 25 new traders on the spot and their Temporary Reference Numbers (TRNs) were generated under the GST Act. It was organised after the directions of Arshdeep Singh Thind, Taxation Commissioner, and Darvir Raj, Deputy Commissioner, State Taxes.
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Three officials of Shemaroo Entertainment – CEO Hiran Gada, joint managing director Atul Maru and chief financial officer Amit Haria were arrested on Thursday by the Central Goods and Services Tax (CGST) department for fraudulently claiming Input Tax Credit (ITC) of Rs 70.25 crore.
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