Page 39 - Gst

Odisha's GST collections rose by 12.85% to Rs 4,249 cr in September

Odisha's GST collections increased by 12.85 per cent to Rs 4,249.12 crore in September, officials said on Sunday. The state had collected a gross GST revenue of Rs 3,765.17 crore in the same month last year, they said. The collection to be retained by the state (OGST+IGST settlement) was Rs 1,651.58 crore, against 1,157.08 crore in September 2022, a growth of 42.74 percent, they added. The state generated 20.66 lakh waybills in September, as compared to 17.66 lakh waybills during the corresponding period of last year. Helped by improved compliance, overall GST collections in the country increased by 10 per cent to over Rs 1.62 lakh crore in September, crossing the Rs 1.6 lakh crore mark for the fourth time during the current financial year.

Gross GST collection rises 10% to over Rs 1.62 trillion in September

Gross GST collection rose 10 per cent to over Rs 1.62 lakh crore in September, crossing the Rs 1.6 lakh crore mark for the fourth time during current financial year. Gross GST revenue collected last month was Rs 1,62,712 crore. Of this, Central GST was Rs 29,818 crore, State GST was Rs 37,657 crore, Integrated GST was Rs 83,623 crore (including Rs 41,145 crore collected on import of goods) and cess was Rs 11,613 crore (including Rs 881 crore collected on import of goods). The revenue in September 2023 was 10 per cent higher than the GST revenue of Rs 1.47 lakh crore in the same month last year, the finance ministry said in a statement. "During the month, revenues from domestic transactions (including import of services) are 14 per cent higher than the revenues from these sources during the same month last year. It is for the fourth time that gross GST collection has crossed Rs 1.60 lakh crore mark in FY 2023-24," it said.

FinMin notifies Oct 1 date for implementing amended GST law for e-gaming

The Finance Ministry has notified October 1 as the date for implementation of the amended GST law provisions for taxing e-gaming, casinos and horse racing. According to the changes to the Central GST Act, these supplies will henceforth be treated as "actionable claims" similar to lottery, betting and gambling and subject to 28 per cent Goods and Services Tax (GST) on full face value of bets. The amendments to Integrated GST (IGST) Act makes it mandatory for offshore online gaming platforms to take registration in India and pay taxes in accordance with domestic law. In its meetings in July and August, the GST Council, comprising finance ministers of Centre and states, had approved amendments to the law to include online gaming, casinos and horse racing as taxable actionable claims, and clarified that such supplies would attract 28 per cent tax on full bet value. Parliament last month passed amendments to the Central GST and Integrated GST laws to give effect to the Council's ...

Maruti receives show cause notice from GST Authority, demands interest

Maruti Suzuki India on Friday said it has received a show cause notice from the GST Authority proposing to demand interest and impose penalty, besides appropriating tax already paid, amounting to Rs 139.3 crore. The notice pertains to the matter of tax liability under reverse charge basis on certain services for the period of July 2017 to August, 2022, Maruti Suzuki India said in a regulatory filing. "The company will file a reply to the show cause notice before the Adjudicating Authority," it said, adding that there was no impact on its financial, operation or other activities due to the notice. The company also said it has received a favourable order from the High Court of Punjab and Haryana wherein appeals filed by the Central Excise Department for the period June 2006 to March 2011 have been dismissed. The Central Excise Department had filed appeals before the high court against an earlier tribunal order of August 2016, which was passed in favour of the company in which input .

IT ministry puts plan to form self-regulatory body for gaming on hold

BS had reported that if the ministry finds that big players are backing SRBs and that the bodies lack independence, certification of games will be considered instead of self-regulation

ICICI Lombard says it has got Rs 1729 cr tax demand from GST Intelligence

General insurer says it will file a response to the notice based on advice from its tax advisors

New GST rules to tighten compliance for foreign digital service providers

They will have to pay 18 per cent GST regardless of the service they provide

Tax demand on online gaming companies likely to top Rs 1.5 trillion

Dream11 and other companies seek legal recourse after DGGI slaps GST notice

Dream11 moves Bombay High Court challenging GST show cause notices

Fantasy sports platform Dream11 has filed a petition in the Bombay High Court challenging the levy of 28 per cent GST retrospectively on bets placed on its platform. The petition filed on September 22 follows Show Cause Notices (SCN) slapped on the e-gaming platform by Goods and Services Tax (GST) authorities. As per the petition, the tax demand is to the tune of Rs 216.94 crore for 2017-18 and Rs 1,005.77 crore for 2018-19. Dream11 challenged the SCN, which seeks to recover the GST as they were based on the premise that the services provided by the company were those of gambling on which 28 per cent tax is leviable. "The impugned notices lack jurisdiction having been issued in teeth of the Apex Court judgments in the petitioner's own case, wherein, it has been held that Online Fantasy Sports Gaming provided by the petitioner are predominantly games of skill, not amounting to gambling/betting," the petition said. The e-gaming company said the impugned notices lack jurisdiction and

DGGI serves Rs 55k crore tax notices to gaming firms, biggest to Dream11

The pre-show cause notices are being issued after the GST rates for real money games increased to 28 per cent on the total bet placed at the entry-level

LIC to challenge Rs 290 cr GST bill issued by Bihar tax authority

LIC gears up to appeal against a hefty GST demand exceeding Rs 290 cr, encompassing penalties and interest

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'

Ice cream topping crackle likely to attract 18 per cent GST on AAR ruling

Court held crackle is not intended for direct consumption by users but as an industrial input

Time limit under GST to claim input tax credit constitutionally valid: HC

Under GST law, the deadline for claiming ITC is November 30

Finance Ministry notifies 31 state benches of GST appellate tribunal

The Finance Ministry has notified 31 benches of GST Appellate Tribunal (GSTAT) which will be set up in all states and Union Territories. Setting up of state-level benches of GSTAT would help businesses by way of faster dispute resolution. Currently, taxpayers aggrieved with ruling of tax authorities are required to move the respective High Courts. The resolution process takes a long time as High Courts are already burdened with backlog of cases and do not have a specialised bench to deal with GST cases. As per the notification, Gujarat and UTs -- Dadra and Nagar Haveli and Daman and Diu, will have two benches of the GSTAT; Goa and Maharashtra together will have three benches. Karnataka and Rajasthan will have two benches each, while Uttar Pradesh will have three benches. West Bengal, Sikkim and Andaman and Nicobar islands; and Tamil Nadu and Puducherry will together have two GSTAT benches each, while Kerala and Lakshadweep will have one bench. The seven North Eastern states -- ..

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

Fuel for thought

Mr Gadkari's statement reflects a valid policy concern

FADA seeks reduction in GST rates for entry-level two-wheelers to 18%

The Federation of Automobile Dealers Associations on Thursday asked for the reduction in GST rates on entry-level two-wheelers to 18 per cent, saying the segment has not recovered from the impact of COVID-19 pandemic. Speaking at the Auto Retail Conclave here, Federation of Automobile Dealers Associations (FADA) President Manish Raj Singhania said in the ongoing fiscal so far, while the retail sales of total vehicles have grown by around 7 per cent, the entry-level two-wheeler segment is yet to witness the robust growth seen. "Although the two-wheelers segment experienced year-on-year growth, we are still 20 per cent behind the pre-COVID levels," Singhania said. Turning to Union Road Transport and Highways Minister Nitin Gadkari, who was the chief guest at the function, he said, "That's why FADA strongly urges honourable minister to help us get a reduction in GST rate from 28 per cent to 18 per cent for entry-level two-wheelers that is the 100cc and 125cc segment." He further said,

No pension, PF for I-T, GST tribunal members under amended tribunal rule

Earlier, serving judges of the High Court or the Supreme Court were appointed as chairperson or a member while staying in their existing service, and were entitled to pension and other benefits

GST registration in Gujarat stricter with passport-like mechanism: Minister

The Gujarat government has decided to put in place a passport-like mechanism, wherein the applicant undergoes police verification, in the GST registration process to tackle bogus billing, the legislative assembly was informed on Wednesday. The announcement was made by state Finance Minister Kanubhai Desai in the House on the first day of the monsoon session. To tackle the menace of bogus billing, we have decided to tighten the process of GST registration and make it more stricter. We will follow a passport-like registration process (including police verification) for those seeking a GST number. This will eliminate the chances of fraud through bogus billing, said Desai. The minister shared the plan while responding to the members of the opposition Congress over the issue of unscrupulous individuals claiming tax credits by producing fake bills. He was speaking after tabling a Bill which seeks to rationalise the rate of interest on delayed payment of taxes and duties. The minister ..