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
Kerala Finance Minister K N Balagopal on Thursday said the state had repeatedly expressed its reservations over imposing GST on certain packaged food items, contradicting Union Finance Minister Nirmala Sitharaman‘s claims that even non-BJP ruled states were onboard on the taxation decision. Days after Sitharaman mentioned that Opposition-ruled states had given their nod for imposing … Read more
The goods and services tax (GST) rate rationalisation exercise is likely to be delayed because of inflationary pressure and geopolitical tensions, said a senior finance ministry official as part of comments about the economy, asset sales and the government’s borrowing programme. The Centre has sought a legal view on the divestment of Pawan Hans and … Read more
In what could further dampen the mood of crypto investors in the country, the goods and services tax (GST) council is mulling a 28 per cent tax on cryptocurrencies, at par with the current GST on casinos, betting and lottery, multiple media reports claimed on Monday. The services such as crypto mining along with sales … Read more