Planning a lavish party this Diwali? Taxman may be your invisible guest

Gone are the days of over-the-top Diwali parties. This year round, the taxman is the invisible - and unwanted - guest at these once extravagant affairs

There is no shortage of black humour this festive season. 

“Been playing teen-patti?”

“No, I don’t have a GSTIN yet.” 

The Goods and Services Tax is proving a helluva party-pooper as this conversation among guests proves. 

“Have you paid advance GST yet?”

“No, I don’t expect to win more than Rs 20 lakh this year.” 

Remember those gaddis of cash that offended you with their excess? Well, they’re of the past now.

“How will you pay what you lost at cards?”

“My CA will do an intra-bank transfer but he wants to know how to calculate the GST, and whether the winner pays the cess or the loser.”

“Mine