Page 13 - Latest Updates on Goods and Services Tax
GST to be paid on gold coins, white goods given as incentives, rules AAR
Input tax credit can be claimed as such items are not gifts, says Telangana authority
 "GST to be paid on gold coins, white goods given as incentives, rules AAR")
India arms of 1,000 MNCs asked to pay GST on expat salaries, allowances
Tax demands for 18% GST range from Rs 1 crore to Rs 150 crore
 "India arms of 1,000 MNCs asked to pay GST on expat salaries, allowances")
Expanding OIDAR scope: Foreign firms asked to comply with GST norms
Intimation notices to 70 online gaming, edtech, ad companies
 "Expanding OIDAR scope: Foreign firms asked to comply with GST norms")
LIC says it has got GST notice of Rs 37,000 for paying taxes at lower rate
State-owned firm says taxes officer's action will not affect its finances
 "LIC says it has got GST notice of Rs 37,000 for paying taxes at lower rate")
Calcutta HC quashes penalty order on e-way bill that expired in 9 hours
Authorities could not prove that petitioner intended to evade tax, says court
 "Calcutta HC quashes penalty order on e-way bill that expired in 9 hours")
GST council to clarify on corporate guarantees, some exemptions likely
Likely to recommend 18% GST on 1% of amount guaranteed
 "GST council to clarify on corporate guarantees, some exemptions likely")
Bajaj Allianz gets Rs 1,010 crore tax demand from GST intelligence
The notice claims that the general insurer has not paid GST on reinsurance premium, despite receiving commissions from co-insurance companies
 "Bajaj Allianz gets Rs 1,010 crore tax demand from GST intelligence")
Gross GST collection rises 10.2% to over Rs 1.62 trillion in September
GST collection in the first half of this financial year reported 11 per cent growth to touch Rs 9.92 trillion compared to the same period a year ago
Google, Facebook, X, Edtech Cos likely to pay up to 18% IGST from October 1
OIDAR service provider companies such as Google, X, and Facebook may have to pay integrated GST up to 18 per cent on services provided to the government and individuals in India
 "Google, Facebook, X, Edtech Cos likely to pay up to 18% IGST from October 1")
Tax troubles: 80 online gaming companies likely to face GST evasion notice
Evasion by companies may be to the tune of up to Rs 12,000 crore
 "Tax troubles: 80 online gaming companies likely to face GST evasion notice")
Rising GST mop-up an outcome of improved compliance: CBIC chairman
'When drawing up Revised Estimates in January, we are confident of exceeding projections based on overall collections'
 "Rising GST mop-up an outcome of improved compliance: CBIC chairman")
Banks receive GST notices for use of brand name by branches, subsidiaries
Tax authorities believe that the brand name is a free service given to related parties and thus subject to GST
 "Banks receive GST notices for use of brand name by branches, subsidiaries")
28% GST on deposit refunds issued by online gaming portals, casinos
Once a given amount is deposited with the platform, tax will be imposed on the whole amount, irrespective of the part of the deposit returned to the player at a later point
 "28% GST on deposit refunds issued by online gaming portals, casinos")
Biz can claim ITC on goods procured for distribution to dealers: GST AAR
The Karnataka-bench of the AAR ruled that ITC can be availed on taxes paid for procurement of white goods or gold coins for the purpose of incentive to dealer as it is a supply
 "Biz can claim ITC on goods procured for distribution to dealers: GST AAR")
India's GST collection increases 11% to Rs 1.59 trn on better compliance
Mop-up for Centre, states and revenue from IGST moderated compared to previous month
 "India's GST collection increases 11% to Rs 1.59 trn on better compliance")
FADA delegation meets Gadkari, seeks 18% GST on entry-level 2-wheelers
Automobile dealers' body FADA on Wednesday sought GST reduction on entry-level two-wheelers to 18 per cent from 28 per cent currently
 "FADA delegation meets Gadkari, seeks 18% GST on entry-level 2-wheelers")
28% GST on online gaming: How will new tax work for players and companies
GST Council has decided to go ahead with a 28% tax on full face value of online gaming. Know here how the new rule will impact the players and the companies, and by how much will their outgo increase
 "28% GST on online gaming: How will new tax work for players and companies")
GST Council meet: 28% tax on online gaming from October 1, says Sitharaman
The Council will review the implementation of 28 per cent goods and services tax (GST) on online gaming, and casinos after six months
 "GST Council meet: 28% tax on online gaming from October 1, says Sitharaman")
July goods and services tax receipts rise 11% YoY to Rs 1.65 trn
India's goods and services tax (GST) collections rose 11% from a year earlier to 1.65 trillion rupees ($20.05 billion) in July, a government statement showed on Tuesday
July GST collection comes at Rs 1.65 trillion, rises 11% YoY
The government has settled Rs 39,785 crore to CGST and Rs 33,188 crore to SGST from IGST