GST News

Top IT Firms TCS, Infosys, Tech Mahindra Hit with Wave of GST Notices Across Multiple States

12 September 2024 at 09:13

Over the past six to seven weeks, leading Indian IT firms, including Tata Consultancy Services (TCS), Infosys, Tech Mahindra, and LTIMindtree, have been hit with a wave of penalty and tax orders from GST departments nationwide.

Posted in GST | 3702 Views

Ram Temple Construction in Ayodhya to Generate Rs 400 Crore in GST Revenue: Champat Rai

12 September 2024 at 09:08

Speaking at an event in Indore, Madhya Pradesh, on Monday, Champat Rai, the General Secretary of Shri Ram Janmabhoomi Teerth Kshetra Trust, said that the ongoing construction of the temple in Ayodhya will make a contribution of about Rs 400 crore for

Posted in GST | 1 comments | 1983 Views

Industry Leaders Applaud GST Council's Decision on Rate Cuts

12 September 2024 at 09:05

The GST Council's 54th meeting brought a wave of optimism across various industries with the announcement of critical rate cuts and policy adjustments.

Posted in GST | 504 Views

GST Tweak on Commercial Rentals Set to Boost Government Revenue, Say Experts

12 September 2024 at 09:01

GST Council has decided to bring the renting of commercial properties under the Reverse Charge Mechanism (RCM), a decision that is expected to increase the compliance burden for tenants

Posted in GST | 1 comments | 1749 Views

GST Exemption Granted for Research Grants to Educational Institutions

11 September 2024 at 09:18

In a recent decision by the GST Council, universities and research centres set up under Central & State Governments Acts or those availing income tax Exemption shall exempt from paying GST on research funds.

Posted in GST | 2448 Views

54th GST Council Meeting: No Change in Tax Rates for Online Gaming, Casinos and Race Courses

11 September 2024 at 09:14

The 54th GST Council Meeting reviewed the 28% GST rates on online gaming, casinos, and race courses but opted not to make any changes to the existing tax regime.

Posted in GST | 2184 Views

GST Council to Invoke Section 11A for Retro Tax Relief in Rare Cases: Revenue Secretary

11 September 2024 at 09:13

The newly introduced Section 11A of the GST Act 2017 will be applied only in "rarest of the rare cases" to offer retrospective Goods and Services Tax (GST) relief, clarified Revenue Secretary Sanjay Malhotra after the GST Council's meeting on September 9

Posted in GST | 2610 Views

GST Collections from Real-Money Gaming Surge 412% to Rs 6909 Crore in 6 Months, Says FM Sitharaman

11 September 2024 at 09:12

India's real-money gaming industry witnessed a staggering 412% surge in Goods and Services Tax (GST) collections, totalling ₹6,909 crore during October 2023 to March 2024, as reported by FM Nirmala Sitharaman

Posted in GST | 1788 Views

54th GST Council Meeting: Key Recommendations on Trade Facilitation and GST Compliance

10 September 2024 at 09:18

The GST Council inter-alia made the following recommendations relating to measures for the facilitation of trade and measures for streamlining compliances in GST.

Posted in GST | 4086 Views