The Lok Sabha passed two bills on Friday to amend the Goods and Services Tax (GST) laws to levy a 28% tax on online gaming, casinos, and race clubs. The bills were introduced by Finance Minister Nirmala Sitharaman in the lower house of Parliament. The Central …
One person has been arrested for ₹8.7 crore GST evasion in Gujarat. The accused, Devang Nathwani, is the key person handling the affairs of Eagle Marketing, which is involved in trading of crude chemicals. The SGST department raided Eagle Marketing’s business premises in Rajkot and a …
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The Union Cabinet has approved the bill to amend the GST rate to 28% on online gaming, casinos, and horse racing in India. The bill will be presented in the ongoing monsoon Parliament Session and is expected to be enforced by October 1. The GST council, …
Recommendations of 51st GST Council Meeting GST Council recommends certain amendments in CGST Act 2017 and IGST Act 2017, including amendment in Schedule III of CGST Act, 2017, to provide clarity on taxation of supplies in casinos, horse racing and online gaming GST Council also recommends …
As of October 1, a 28 percent tax will be imposed on the full face value of bets placed on online games. This decision was made by the GST Council, which includes the Union Finance Minister and representatives from all states, and it is part of …
In a written reply to the Lok Sabha on Monday, Finance Minister Nirmala Sitharaman said that GST evasion of Rs 14,302 crore was detected in the first two months of the current fiscal year, April-May 2023. Of this amount, Rs 5,716 crore was recovered. 28 persons …
The CBIC vide Circular No. 200/12/2023-GST dated August 01, 2023 has issued clarification regarding GST rates and classification of certain goods based on the recommendations of the GST Council in its 50th meeting held on July 11, 2023. Based on the recommendations of the GST Council in its …
CBIC vide Circular No. 201/13/2023-GST dated August 01, 2023 has issued clarifications regarding the applicability of GST on certain services based on the recommendations of the GST Council in its 50th meeting held on July 11, 2023. Representations have been received seeking clarifications on the following issues: Whether …
Union government has accepted the recommendation to set up an online audit mechanism under the Goods and Services Tax (GST) to streamline the process. The current audit process was seen as cumbersome and time-consuming, with a large number of documents being sought from taxpayers for conducting …
