TAG: GST Council
Online gaming: Understanding the tangled web of taxes
The taxability of online gaming services under goods and services tax (GST) has always been tricky, hinged on the distinction of whether they are classified as 'gambling' or 'skill-based' activities. While gambling activities such as betting and casino ga...
5 months ago
Next GST Council meeting to be held on September 9
The GST Council will be meeting on 9th September at New Delhi, the official social media handle confirmed on August 13.The upcoming meeting of the GST Council may take up issued relating to rate rationalisation, and also cases where Indian offices have se...
2 months ago
Exclusive: GoM on rate rationalisation not in favour of merger of GST slabs
The Goods and Services Tax (GST) group of ministers (GoM) on rate rationalisation chaired by Bihar Deputy Chief Minister Samrat Chaudhary, is not in favour of merger of the tax slabs and feels the current four rates need to be maintained, sources said.The...
1 month ago
GST Council likely to deliberate on exemption of health, life insurance on Sept 9
The Goods and Services Tax (GST) Council is likely to discuss the issue of exemption of health and life insurance from the 18 percent levy when it will meet on September 9, two people familiar with the development said.The proposal is under examination by...
1 month ago
GST Council to discuss rate rationalisation on Sep 9, final decision later: FM Sitharaman
Finance Minister Nirmala Sitharaman said on August 27 that the GST Council next month will discuss rationalisation of tax rates but a final decision on tweaking taxes and slabs will be taken later."The upcoming GST Council meeting will take up the issue o...
1 month ago
GST Council likely to discuss cess, status of rate rationalisation on September 9: FM Sitharaman
The upcoming GST Council meeting on September 9 is expected to focus on two crucial issues - the status of rate rationalisation and the future of the compensation cess, Union finance minister Nirmala Sitharaman said.“In the September 9 meeting, the office...
1 month ago
Council could heed to Gadkari’s call to exempt life insurance from GST; Rs 200 cr revenue loss likely
In a significant development, the Goods and Services Tax (GST) Council is likely to exempt life insurance from GST during its upcoming meeting on September 9.The move, which has garnered widespread support, could lead to a revenue loss of Rs 200 crore ann...
1 month ago
GST Council likely to exempt term life insurance from tax, no change in investment-linked plans
The GST Council is expected to exempt term life insurance policies from the goods and services tax (GST) while continuing to tax insurance policies with an investment component, a decision that could boost demand for pure protection policies.The decision...
1 month ago
GST collections at Rs 1.75 lakh crore dip in August, but up 10% from last year
India’s goods and services tax (GST) collections were a tad lower at Rs 1.75 lakh crore in August compared with Rs 1.82 lakh crore in the previous month, according to data released on September 1.The pace of growth of GST remained around 10 percent in Aug...
1 month ago
GST relief on health insurance may lead to Rs 3,500 crore revenue loss, says govt official
In the upcoming Goods and Services Tax (GST) Council meeting on September 9, a significant proposal is under consideration that could have wide-reaching implications for the insurance sector and the government exchequer. The potential exemption of health...
1 month ago
No consensus among states on GST relief for health insurance premium
The states continue to remain divided over a proposal to exempt health insurance premium from Goods and Services Tax (GST), with the Fitment Committee, comprising revenue officials from both the state and Union governments, struggling to reach a consensus...
1 month ago
GST Council may propose scheme to write off recovery of past tax dues on Extra Neutral Alcohol
In a significant move for the spirits industry, the Goods and Services Tax (GST) Council could propose a scheme enabling central and state tax authorities to write off the recovery of past tax dues on Extra Neutral Alcohol (ENA), potentially offering much...
1 month ago
GST Council likely to clarify on 18% GST on payment aggregators' gateway fees for cards transactions upto Rs 2,000: CNBC-TV18
India’s GST Council is expected to clarify at its September 9 meeting on whether GST of 18 percent should be levied on digital payments of less than Rs 2,000 made through payment aggregators such as Pine Labs and Razorpay, CNBC-TV18 reported citing source...
1 month ago
GST Council to discuss application of Section 11A amendment to resolve retrospective tax disputes
The Goods and Services Tax (GST) Council is set to meet in Delhi on September 9 to discuss the implementation of the newly introduced Section 11A in the Central Goods and Services Tax Act (CGST) of 2017.The meeting will focus on interpreting the amendment...
1 month ago