GST News

Online Gaming Firms Confront Rs 45000 Crore Tax Demand Post 28% GST Levy

17 August 2023 at 08:55

CBIC has evaluated the GST liabilities of the gaming firms in India, and it has been found that they were taxed at 18% on their gross gaming revenue, which was meant for skill-based games, instead of the legally prescribed 28%.

Posted in GST | 7074 Views

GST Applicable on X (formerly Twitter) Ad Revenue Sharing Beyond Rs 20 Lakh Annual Threshold

14 August 2023 at 08:38

Income from ad revenue sharing by X (formerly Twitter) is liable to GST if it exceeds the threshold of Rs 20 lakh in a year.

Posted in GST | 9609 Views

SGST Arrests Rajkot Businessman for Rs 8.7 Crore Tax Evasion in Crude Chemical Trade

14 August 2023 at 08:34

One person has been arrested for ₹8.7 crore GST evasion in Gujarat. The accused, Devang Nathwani, is the key person handling the affairs of Eagle Marketing, which is involved in trading of crude chemicals.

Posted in GST | 6441 Views

Lok Sabha passes GST Amendment Bills to impose 28% tax on online gaming, casinos and race clubs

12 August 2023 at 08:47

The Lok Sabha passed two bills on Friday to amend the Goods and Services Tax (GST) laws to levy a 28% tax on online gaming, casinos, and race clubs. The bills were introduced by Finance Minister Nirmala Sitharaman in the lower house of Parliament.

Posted in GST | 7620 Views

Main Users Grant Sub-Users Access to e-Invoices and EWB Management

10 August 2023 at 09:01

The GST, e-Invoice System issued an update on August 9, 2023, stating that sub-users can now access e-Invoices generated by the main user and perform View/Cancel/Generate EWB.

Posted in GST | 4212 Views

GST Amendment Bill of 28% on Online Gaming Gets Cabinet Approval

10 August 2023 at 09:00

The Union Cabinet has approved the bill to amend the GST rate to 28% on online gaming, casinos, and horse racing in India. The bill will be presented in the ongoing monsoon Parliament Session and is expected to be enforced by October 1.

Posted in GST | 2259 Views

ICICI Lombard gets Rs 273 Crore GST Notice on Motor Insurance Settlements

10 August 2023 at 08:59

ICICI Lombard General Insurance has received a tax demand notice from the Directorate General of GST Intelligence for a sum of ₹273.44 crore.

Posted in GST | 2433 Views

Minister of State, Shri Pankaj Chaudhary Provides Insights into Queries on GST Portal Glitch

09 August 2023 at 08:58

The Minister of State for Finance, Shri Pankaj Chaudhary, assured taxpayers that the government is committed to providing a smooth and reliable GST portal.

Posted in GST | 3096 Views

Minister of State, Shri Pankaj Chaudhary Clarifies Queries on GSTN's Status Under PMLA

09 August 2023 at 08:58

The Minister of State for Finance, Shri Pankaj Chaudhary, recently clarified various questions about the Goods and Services Tax Network (GSTN) being brought under the Prevention of Money Laundering Act (PMLA).

Posted in GST | 4746 Views

Gaming Giants Hit Hard: MPL Cuts Staff 50%, Quizy Closes After GST Hike

09 August 2023 at 08:56

The gaming industry is experiencing significant challenges following the decision by the GST Council to impose a 28% tax on the full player deposit value in online money gaming.

Posted in GST | 5103 Views