This Post discusses the perspectives of Arun Goyal, a retired Indian Administrative Service officer, who is now a member of the Central Electricity Regulatory Commission. Notably, he played a crucial role as an additional secretary during the GST Council’s launch of the Goods and Services Tax (GST), showcasing his deep experience in regulatory matters and … Continue reading Game Changer — The GST has revolutionized India’s economy.
Lok Sabha Approves Amendments for 28% GST on Online Gaming
The Lok Sabha has given its approval to changes made in two Goods and Services Tax (GST) bills. These changes focus on imposing a 28% tax on activities like online gaming, casinos, and horse race clubs. These amendments were introduced by Finance Minister Nirmala Sitharaman during the monsoon session of Parliament. The purpose of these … Continue reading Lok Sabha Approves Amendments for 28% GST on Online Gaming
Union Cabinet Clears Bill to Amend GST Laws for Online Gaming, Casinos, and Horse Racing
The Union Cabinet on Wednesday cleared a bill to amend laws to bring clarity related to the uniform 28 percent GST at full face value for online gaming, casinos, and horse racing, government sources confirmed. The statutes to be amended through the latest bill include CGST, IGST, and UT GST laws. The bill is expected … Continue reading Union Cabinet Clears Bill to Amend GST Laws for Online Gaming, Casinos, and Horse Racing
Indian Banks Engage in Branch Opening Spree with Focus on Deposits
In the realm of Indian banking, particularly within the enclave of private sector institutions, a conspicuous defiance of the presumption that digital transactions would consign physical branches to obsolescence has taken shape. In a bold and strategic move, these banks are orchestrating a fervent expansion of their branch networks, spurning the predicted diminution of brick-and-mortar … Continue reading Indian Banks Engage in Branch Opening Spree with Focus on Deposits
Calcutta High Court’s Landmark Decision on GST Credit Denial Due to Supplier Tax Non-Payment
In a groundbreaking ruling, the Calcutta High Court emphasized that the denial of input tax credit (ITC) under GST cannot occur automatically solely due to discrepancies between GSTR-2A and GSTR-3B. This verdict underscores the necessity for an investigation into the supplier’s tax situation before rejecting ITC. This judgment brings substantial relief to companies grappling with … Continue reading Calcutta High Court’s Landmark Decision on GST Credit Denial Due to Supplier Tax Non-Payment
Calcutta HC Declares Landmark GST Ruling, Denying Automatic ITC Denial for Supplier Tax Non-Payment
Landmark Decision by Calcutta High Court: Buyers’ GST Credits Safe Even Amidst Supplier Tax Defaults In a significant legal ruling, the Calcutta High Court has taken a firm stance regarding GST input tax credit (ITC) under the Goods and Services Tax (GST) system. The court has decreed that the mere mismatch between GSTR-2A and GSTR-3B … Continue reading Calcutta HC Declares Landmark GST Ruling, Denying Automatic ITC Denial for Supplier Tax Non-Payment
The burden of 12% GST on Hostel Accommodation
Students seeking hostel accommodation will face an increase in expenses, as a recent ruling from the Authority of Advance Ruling imposes a 12% GST on rent payments. This decision, rendered in separate instances by the Bengaluru and Lucknow benches of the AAR, asserts that hostels should not be treated as equivalent to residential dwellings and, … Continue reading The burden of 12% GST on Hostel Accommodation
Truck Driver Dies of Shock after Being Detained by GST Officials on His Way to See Deceased Son
A distressing incident unfolded as a 49-year-old truck driver, en route to Punjab after learning about his son’s tragic passing, was apprehended by State Goods and Service Tax (SGST) authorities on GT Road. The unfortunate turn of events culminated in the driver’s demise within his vehicle that same night, reportedly due to the overwhelming shock … Continue reading Truck Driver Dies of Shock after Being Detained by GST Officials on His Way to See Deceased Son
GST Refunds for Cancelled Contracts — Supplier Obligations
Government entities or suppliers consistently aim to have an advantage in their interactions with private businesses. When contracts are nullified, a common concern arises about managing the previously paid GST, particularly if there’s no applicable outward tax liability. Addressing this matter, Serial Number 3 of Circular Number 137/07/2020-GST dated 13/4/2020 outlines the subsequent details — … Continue reading GST Refunds for Cancelled Contracts — Supplier Obligations
Ashneer Grover Slams 28% GST on Online Gaming
Ashneer Grover, a prominent figure in the Indian tech landscape and co-founder of BharatPe, has fiercely criticized the recent decision of the GST Council to impose a heavy 28% Goods and Services Tax (GST) on online gaming. This decision holds significant consequences for various gaming companies, such as Dream11, MPL, Gameskraft, and Games 24×7. In … Continue reading Ashneer Grover Slams 28% GST on Online Gaming