Page 13 - Gst Council

GST Council to meet before mid-Nov; GoM report on tax casinos on agenda

The GST Council is likely to meet in the first half of November to discuss the reports of the panel of ministers on setting up GST appellate tribunal and levy of tax casinos and online gaming, an official said. In addition, the status on the much awaited full report of the committee tasked with rationalisation of GST rates may also come up for discussion at the 48th Council meeting in Madurai. Even if the report, which is to look at merger in GST slab that may result in prices of some goods and services going up, is presented, it is unlikely to be acted upon by the GST Council in view of high inflation. The GoM on rate rationalisation set up on September 24, 2021 was originally due to submit its report within two months or November 2021. The panel has got subsequent extensions since then. The Council, in its last meeting in June, had given the GoM time till September to submit a full report. The official said that the GoM on GST appellate tribunal has already submitted its report,

Supreme Court rejects plea by Hero MotoCorp for full budgetary support

But suggests GST Council, states consider mechanism for reimbursing eligible units

Centre to soon waive compensation cess on coal gasification: Report

After the removal of cess, the cost of producing methanol is expected to come down by Rs 800-900 per million tonnes

Run-up to Budget: Monetary threshold for GST offences may rise to Rs 25 cr

So far, the CBIC has made 960 arrests, including of 20 chartered accountants, under the current provision

India's $2-billion online gaming industry jolted by taxing times

The $2 billion online gaming industry in India, while grappling with these issues, the online gaming industry should be treated as entertainment and not gambling, as it comes under the games of skill

Businesses will be able to claim pre-GST tax credits from October 1: Report

When the new tax regime under GST was introduced in 2017, several businesses could not file their tax claims due to a lack of clarity on the rules and technical glitches

Industry hails decision to separate gaming from gambling, horse racing

In July, the GST Council announced a 28 per cent tax on the industry, which experts and companies largely agreed to. Currently, an 18 per cent tax is applicable on the gross gaming revenue (GGR)

GoM for different GST on sports betting, casinos and horse racing

Group of ministers to seek legal opinion for the move

GST collections above Rs 1.4 trillion for sixth consecutive month

Mop-up increases 28% YoY in August to Rs 1.43 trillion; most big states see double-digit growth in collections

Medicine purchases by inpatients exempt from GST, says Tamil Nadu AAR

But says drugs, consumables purchased by outpatients in the course of treatment will be taxed

GST rates could change to correct inverted duty, exemptions: Report

Group of ministers headed by Karnataka Chief Minister Basavaraj Bommai is working on the second round of GST rate changes, a news report said

GoM on casinos, online gaming to submit report to FM in 1-2 days: Report

The GST Council is likely to meet towards the end of this month or early September and discuss the report of the Group of Ministers (GoM), the sources added.

Setting up GSTAT: GoM may pitch for easing eligibility for states' officers

States learnt to be at loggerheads with Centre as they seek equal representation

Supreme Court wants states to make DIN mandatory for GST officers

A DIN is a 20-digit identification code that is affixed to every communication sent to taxpayers by the government

States taxed items consumed by poor in pre-GST era: FM Sitharaman

She also said the government has contained prices of tomato, onion, and potato, while comparing rates with those prevailing in November 2013.

Opposition targets Centre over imposing GST on pre-packaged food items

The BJP, however, accused Opposition parties of doing politics over the issue, saying states not ruled by the BJP were also part of the decision taken by the GST council

No GST on food items when sold loose, clarifies FM Nirmala Sitharaman

The clarification came amid protests and widespread criticism by Opposition Members of Parliament over foisting GST on daily-use essentials and subsequent price rise

Few states have sought extension of GST compensation for 5 years: FM

GST Council has recommended extending the period of levy of GST Compensation cess beyond June 2022 to cover the entire shortfall as well as servicing the back-to-back loan released to states

Bourses, people dealing in securities market to pay 18% GST on Sebi's fee

The new tax rate will be effective from Monday, the Securities and Exchange Board of India (Sebi) said in a circular.

Delhi traders call GST on pre-packed food 'anti-people', demand withdrawal

Traders in the national capital have opposed the GST Council's decision to tax pre-packed and labelled food items, and termed it an "anti-people move"