Page 18 - Gst Council
Nasscom hails GST Council's clarification on 'intermediary services'
Nasscom on Saturday said the GST Council's clarification on scope of intermediary services will ensure that BPM exports/R&D exports and IT services-related exports are no longer denied the export status by the enforcement authorities. On Friday, GST Council's recommendations included issuance of certain circulars to remove ambiguity and legal disputes on various issues. This included clarification on scope of "intermediary services" and clarification relating to interpretation of the term "merely establishment of distinct person" with reference to a section of the IGST Act 2017 for export of services. "Nasscom welcomes the decision of the GST Council to issue a circular to clarify the scope of intermediary services. We expect this to lay at rest a long pending issue for the BPM industry and ensure that BPM exports/R&D exports and IT services related exports will no longer be denied the export status by the enforcement authorities," Nasscom said in a statement. Nasscom also ...
 "Nasscom hails GST Council's clarification on 'intermediary services'")
Top headlines: Swiggy, Zomato to pay GST, Covid vax export curbs may ease
Business Standard brings you the top headlines on Saturday
 "Top headlines: Swiggy, Zomato to pay GST, Covid vax export curbs may ease")
Swiggy, Zomato to pay GST from Jan; expensive life-saving drugs exempted
GST Council decides against inclusion of petroleum
GST Council extends levy of compensation cess till March 2026
The GST Council has agreed to levy compensation cess for an extended period upto March 2026 to enable the Centre to repay the loans, to compensate states for GST collection shortfall
 "GST Council extends levy of compensation cess till March 2026")
Top headlines: Govt guarantees Rs 30,600-cr for bad bank; GST meeting today
Business Standard brings the top headlines of the day
 "Top headlines: Govt guarantees Rs 30,600-cr for bad bank; GST meeting today")
Compensation cess and petroleum to fire up GST Council meeting
The Centre is likely to convey that GST revenues would do better than expected this year and a compensation cess of Rs 1 trillion would be released to states
 "Compensation cess and petroleum to fire up GST Council meeting")
Next steps for GST Council
It should address issues with a longer-term view
 "Next steps for GST Council")
GST council: Kerala to oppose move to bring petrol, diesel under GST regime
Kerala on Thursday said it will vehemently oppose any move to bring petrol and diesel under the GST regime as that will further reduce revenue generation for the state
 "GST council: Kerala to oppose move to bring petrol, diesel under GST regime")
GST Council: Kerala to oppose move to increase tax on coconut oil
Kerala will oppose the move to increase the tax on coconut oil as it will affect the interests of the people of the state, official sources said here on Thursday.
 "GST Council: Kerala to oppose move to increase tax on coconut oil")
Sitharaman to address media at 5pm, may speak on bad bank proposal
Finance Minister to speak in Delhi ahead of GST council meeting in to Lucknow tomorrow.
 "Sitharaman to address media at 5pm, may speak on bad bank proposal")
GST Council likely to reject CCI plea for exemption of indirect tax
Fitment committee recommends rejecting MoSPI request for a waiver
 "GST Council likely to reject CCI plea for exemption of indirect tax")
GST Council may deliver blow to food-delivery operators Swiggy, Zomato
Many restaurants are not depositing GST, while some are not even registered
 "GST Council may deliver blow to food-delivery operators Swiggy, Zomato")
Hike tax on tobacco to reduce affordability, protect children: K'taka body
Consortium for Tobacco-Free Karnataka and other organizations working on tobacco regulation on Tuesday urged the GST council to hike the compensation cess on all tobacco products
 "Hike tax on tobacco to reduce affordability, protect children: K'taka body")
GST Council to weigh bringing fuel under indirect tax regime: Report
Any change to the GST system would require approval by three-fourths of the panel, which includes representatives from all states and territories
Top headlines: Tata Sons AGM today, GST Council meet on Friday
Business Standard brings the top headlines of the day
 "Top headlines: Tata Sons AGM today, GST Council meet on Friday")
GST Council may allow intra-state pharma cess, discuss states' dues
It may discuss extending the compensation cess for states beyond 2022
 "GST Council may allow intra-state pharma cess, discuss states' dues")
No FTA with nations you have armed conflict with: Fin secy on RCEP decision
Somanathan said that a dose of carefully calibrated tariff protection for select sectors showing potential may be desirable
 "No FTA with nations you have armed conflict with: Fin secy on RCEP decision")
GST Council special session will be held on compensation-related issues: FM
She also said that the flow of Covid-19 vaccination across the country will be well managed and all states will be taken care of
 "GST Council special session will be held on compensation-related issues: FM")
Four years of GST
Some distance covered but there is scope for a huge improvement
GST at four: A dive into the milestones and the unfinished agenda
GST Council must maintain revenue momentum, simplify rate structure, and strengthen cooperative federalism in spirit and letter
 "GST at four: A dive into the milestones and the unfinished agenda")