Page 62 - Gst

About a dozen states seek extension of GST compensation; no decision taken

With two years being lost in the pandemic, states have sought an extension of this compensation mechanism

Rate tweaks to make up for inefficiencies in value chain: FM Sitharaman

Stating that all states are aware of the potential impact of rate rationalisation on inflation, Sitharaman said any increase in tax rates will also make up for the tax burden.

Top headlines: GST on casinos deferred; marketing freedom to oil producers

Briefing reporters about deliberations at the two-day meeting of the GST Council, Finance Minister Nirmala Sitharaman said finance and other ministers of 16 states spoke on the compensation issue

PM's 'Gabbar Singh Tax' is now turning into 'Grahasti Sarvnaash Tax': Rahul

"Declining income and employment, topped with rising blow of inflation. The Prime Minister's 'Gabbar Singh Tax' has now taken a formidable shape of 'Grihasthi Sarvnaash Tax'," Gandhi said on Twitter.

GST Council: Stormy discussion around states' compensation likely today

States will demand an extension of the compensation period or a change in the GST revenue distribution formula

Top headlines: 28% tax on online gaming, Dish TV-YES Bank tussle, and more

Business Standard brings you the top headlines at this hour

GST Council tilts towards rate hikes, drops exemptions for many items

Okays removing the exemption on mass consumption items

Blanket 28% GST could hit online gaming badly in India, says industry

The country's gaming industry is currently estimated at $1.5 billion

Five years of GST: Some biz adapted, some perished, as others thrived

This ground report from Howrah talks about how the mid-sized and smaller players lost ground

Online gaming industry worried at possible GST hike on skill-based games

EGF, AIGF said that what is more worrying is some reports suggesting that the tax may be levied on total pool (prize money pooled plus the platform commission), and not on gross gaming revenue (GGR)

GST Council meet begins today: Here's what's on the agenda in Chandigarh

From revising some rates to deciding on the thorny issue of compensation extension for states, here is what the Council is likely to take up

Punjab likely to lose Rs 15K crore in FY23 as GST compensation ends

At the Council meeting in Chandigarh, states may call for extending compensation deadline

Five years of GST: Rates for some goods still in need of fine-tuning

The tax continues to evoke mixed feelings and remains work in progress

GST Council meet: Easier e-comm supplier registration, tax tweaks on cards

The council will also clear levying the highest tax of 28 per cent on online games, casinos and horse racing, besides, discussing a report of a GoM on high-risk taxpayers under GST to curb evasion.

GST Council may treat fantasy games on a par with gambling, taxed at 28%

GST Council is likely to consider system-led enforcement reforms

Five years of GST: Recovery of input tax credit still a struggle

This ground report from Agra captures the overall sentiment that GST credit is like working capital for an MSME and it is increasingly getting stuck in the system

Quicker refunds helping exporters in GST regime

Overall, the five years of GST have made life easier for exporters and importers, despite some rude shocks and unresolved issues

GST Council meet: Pruning exemptions on curd, paneer, some veggies on cards

Exemptions may also be withdrawn on certain services such as business class flights from NE airports and certain hospital room categories

28% GST likely on casinos, online gaming and horse racing: Report

The GoM, headed by Meghalaya Chief Minister, has recommended that online gaming should be taxed at full value of the consideration, including contest entry fee paid by the player on participating

GST Council Meet: Rate changes on items, states' compensation top agenda

The GST Council at its meeting in Chandigarh this week is likely to make changes in goods and services tax rates on a handful of items