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Goods and Services Tax News

17 Dec 2022

N Sitharaman chairs 48th GST Council meeting; no tax increase on any item

Nirmala Sitharaman on Saturday chaired the 48th meeting of the GST Council. The meeting was held in the virtual mode in New Delhi. Eight agendas of the 48th GST council meeting were discussed in the meeting.

Goods and Services Tax

22 Nov 2022

Decriminalise GST law, slash personal income tax rates in Budget: CII to govt

Industry body CII has pitched for a reduction in personal income tax rates. CII wrote to the government demanding decriminalisation of the goods and services tax and a relook at the capital gains tax rates Arguing that the GST law already contains adequate penal provisions for deterrence against evasion of taxes, CII has suggested decriminalisation of GST law.

Goods and Services Tax

01 Nov 2022

RECORD GST collections in October, 2nd highest since April

October also saw the second highest collection from domestic transactions, next only to April 2022. This is the ninth month and for eight months in a row now, that the monthly GST revenues have been more than the Rs 1.4 lakh crore mark.

Goods and Services Tax

14 Oct 2022

Packed frozen Paratha to attract 18% GST, rules Gujarat Appellate Authority

Packed frozen 'Paratha' is not 'roti or chapatti', ruled Gujarat Appellate Authority for Advance Ruling Gujarat AAAR said that such paranthas are not eligible for 5 per cent Goods and Services Tax (GST) rate Ahmedabad-based Vadilal Industries had approached the AAAR against the Gujarat-Authority for Advance Ruling (AAR) order passed in June 2021

Goods and Services Tax

26 Sep 2022

Rummy Culture, Gamezy firm Gameskraft gets Rs 21,000 cr tax notice from GST

Gameskraft Technology is a Bengaluru-based online gaming startup Directorate General of GST Intelligence accused the firm of evading taxes Gameskraft refuted allegations claiming that it followed all rules

25 Aug 2022

Tenants will have to pay 18% GST on house rent? Know the truth behind claim

There was a lot of confusion regarding payment of GST on housing rent. However, the government has clarified on the issue concerning new GST rules on payment of rental.

Nirmala Sitharaman

03 Aug 2022

Do you need to pay GST on withdrawing of cash from bank, GST on cheque books?

The ongoing monsoon session of Parliament has witnessed several disruptions by the opposition after GST was imposed on several pre-packed and labelled essential items.

03 Aug 2022

E-invoice mandatory for B2B deals for biz with turnover of Rs 10 cr from Oct

CBIC notified lowering the e-invoice threshold to Rs 10 crore or more. GST Council decided to implement e-invoices in a phased manner. The new GST law will come into effect on October 1.

GST Council meet

02 Aug 2022

No GST on funeral, cremation, burial, or mortuary services: FM Sitharaman

Finance Minister Nirmala Sitharaman on Monday told the Lok Sabha that there is no GST on funeral, cremation, burial, or mortuary services. The opposition has alleged that the price hike has led to the people's anger.

GST collections

01 Aug 2022

GST collections in July second highest ever, rise 28%

In June 2022, total GST collections were at Rs 1.44 lakh crore. Last month, the five-year of the GST regime was completed. GST was introduced in the country w.e.f. 1st July 2017 and States were assured compensation for loss of any revenue.

Goods and Services Tax

19 Jul 2022

FM tweets list of items that will not attract any GST when sold loose

FM Sitharaman said, recently, the GST Council in its 47th meeting recommended to reconsider the approach for imposition of GST on specified food items like pulses, cereals, flour, etc. There have been a lot of misconceptions about this that have been spread.

GST Council meet

18 Jul 2022

Bank, hospital, hotel services to be costlier from today, July 18 --Here's why

In a bid to boost the government’s revenue, the council has decided to impose higher Goods and Services Tax (GST) on a host of household items and other services.

47th GST Council Meet

18 Jul 2022

Pay more GST on THESE important items, service from today: Check complete list

From today, July 18, the prices of several essential commodities and services are going to increase as the decision was taken at the 47th GST meeting chaired by FM Nirmala Sitharaman.

Goods and Services Tax

15 Jul 2022

FinMin seeks industry views on changes in monthly GST payment form

The GST Council in its meeting last month recommended that the changes in GSTR-3B or monthly tax payment form be placed in public domain for seeking inputs and suggestions of the stakeholders.

47th GST Council Meet

15 Jul 2022

Complete list of items that are becoming more expensive from Monday

From July 18, the prices of several essential commodities and services are going to increase as the decision was taken at the 47th GST meeting chaired by FM Nirmala Sitharaman.

47th GST Council Meet

13 Jul 2022

Drinking Milk will be expensive from NEXT week, BIG setback for 'COMMON MAN'

From July 18, the prices of several essential commodities are going to increase. From now on, you will have to pay more for daily food items. The decision was taken at the 47th GST meeting chaired by FM Nirmala Sitharaman said. She said that GST rates will increase on some new products and some goods and services from July 18, 2022.

Har Ghar Tiranga

09 Jul 2022

Har Ghar Tiranga: No GST on sale of national flag, says Finance Ministry

The Flag Code of India, 2002 was amended in December 2021. Tricolour made of polyester or machine-made flags have been allowed.

Goods and Services Tax

07 Jul 2022

GST on Hospital Admission: Gst's whip on medical services, 5% tax on bed rent

Responding to the representations of the industry, revenue secretary Tarun Bajaj also rejected the demand for zero-rating for healthcare industry saying such "carve-outs" may generate similar demands from other sectors, like education, and put upward pressure on taxation of other items in the GST net.

Goods and Services Tax

06 Jul 2022

New GST rule 2022 notified by govt, to benefit lakhs of companies in India

With the amendments notified by the Central Board of Indirect Taxes and Customs (CBIC), businesses have also been allowed to make tax payments on the GSTN portal by using IMPS and UPI payment modes.

04 Jul 2022

Highest 28% GST on luxury, sin goods to continue: Revenue Secy

Addressing the industry leaders, Bajaj said the rate rationalisation exercise of the GST Council is a result of introspection of GST, five years after its rollout, and the policymakers do not have a "fetish" to raise the tax rates to the revenue-neutral level of 15.5 per cent.

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