The GST Council's 54th meeting brought a wave of optimism across various industries with the announcement of critical rate cuts and policy adjustments.
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
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.
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.
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
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
The GST Council inter-alia made the following recommendations relating to measures for the facilitation of trade and measures for streamlining compliances in GST.
The GST Council inter-alia made recommendations relating to changes in GST tax rates.
GSTN released an advisory on September 3, 2024, implementing a new feature call Invoice Management System (IMS) under the portal to assist the taxpayers to correct and amend the invoices with suppliers conveniently.
The GST Council, among other decisions, recommended changes in GST rates for services, offering relief to individuals.
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