The 54th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman and featuring state finance ministers and tax officials, is set to take place today (September 9). The session will address several critical topics, including the taxation of insurance premiums, proposed rate rationalisations, and a review of online gaming revenues. Taxation on health and … Read more
The GST Council, led by Finance Minister Nirmala Sitharaman, is set to meet on Monday to tackle several pressing issues, with the spotlight on reducing the 18% GST on health and life insurance premiums. While there is growing support for lowering the tax burden, concerns remain over whether the benefits will actually reach policyholders or … Read more
GST rates: The Goods and Services Tax on health and life insurance premiums has been making headlines for quite some time. According to a report by CNBC-Awaaz on August 8, sources familiar with the matter have suggested that a reduction in the GST rate on the premium paid for health and life insurance might be … Read more
As states like Delhi and Goa raised the issue of tax demand on online gaming companies and casinos retrospectively, Revenue Secretary Sanjay Malhotra on Saturday reiterated that 28 per cent GST was levied on online gaming and casinos even before. “Certain members had raised the issue of retrospective taxation. It was informed to them that … Read more
A Parliamentary panel has recommended that the government should propose to the GST Council to reduce tax rates on fertilisers from the current 5 per cent. In its report laid in Parliament on Wednesday, Standing Committee on Chemicals and Fertilizers said the committee have been informed that fertilisers were placed under the 12 per cent … Read more
Students will have to shell out more for hostel accommodation as a 12 per cent GST would be applicable on the rent paid, the Authority of Advance Ruling said in two separate cases. The Bengaluru bench of the Authority of Advance Ruling (AAR) said hostels are not akin to residential dwelling units and hence are … Read more
The Goods and Services Tax (GST) Council may meet again next week to iron out some technical issues like repetitive taxation in determining the face value for online gaming and casinos before clearing the draft amendment in the goods and services tax law in the upcoming monsoon session. The discussion will be restricted to the … Read more
New Delhi: The tourism and exports industries are pushing for tax refunds to overseas tourists on goods being taken outside India, on the lines of the provisions in popular destinations such as the UK, UAE and Singapore, to attract international travellers and encourage them to shop more in the country. Industry executives and experts said … Read more
The Centre is likely to revisit the issue of increase in Goods and Services Tax on scientific equipment from 5% to 18%, which had been criticised by the scientific community over its potential impact on India’s research capabilities. Following the July hike, the Department of Science & Technology and the Council for Scientific & Industrial … Read more
The panel of states’ finance ministers on casino and online gaming taxation is likely to submit the final report in 7-10 days. The Group of Ministers (GoM), headed by Meghalaya chief minister Conrad Sangma, will however, meet stakeholders said seek legal opinion before submitting the final report. “After taking the opinion of stakeholders and after … Read more