GST News

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 | 1737 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 | 4041 Views

54th GST Council Meeting: Changes/Clarifications in GST Tax Rates

10 September 2024 at 09:15

The GST Council inter-alia made recommendations relating to changes in GST tax rates.

Posted in GST | 4365 Views

54th GST Council Meet Recommends IMS and New Ledgers to Streamline ITC Claims

10 September 2024 at 09:12

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.

Posted in GST | 3498 Views

54th GST Council Meet Recommends Key GST Rate Changes for Services

10 September 2024 at 09:09

The GST Council, among other decisions, recommended changes in GST rates for services, offering relief to individuals.

Posted in GST | 2 comments | 4455 Views

54th GST Council Meet Approves B2C e-Invoicing Pilot for Retail Efficiency

10 September 2024 at 09:06

The 54th GST Council Meet recommended rollout of a pilot for B2C e-Invoicing, following the successful implementation of e-invoicing in the B2B sector.

Posted in GST | 4056 Views

54th GST Council Meeting: Key Highlights

09 September 2024 at 21:50

Recommendations during 54th meeting of the GST Council

Posted in GST | 6468 Views

Payment Firms Hit with GST Demand for Transactions Under Rs 2000: Report

09 September 2024 at 09:15

Various payment vendors including BillDesk and CCAvenue have been issued GST demand notice relating to the fee charged to merchants for digital transactions of less than Rs 2000 as per a certain report on 7th September.

Posted in GST | 3627 Views

FM Urges Industry to Leverage PLI Schemes for Accelerated Investments

09 September 2024 at 09:12

Finance Minister Nirmala Sitharaman, addressing the Southern India Chamber of Commerce and Industry in Chennai on Thursday, called on Indian industries to invest in expanding their capacity to meet India's growing needs.

Posted in GST | 1566 Views

Lower GST on Insurance May Not Benefit Buyers, Experts Warn

09 September 2024 at 09:10

States have been asked to proceed with the implementation of the measures to cut GST on health and life insurance; however, there is now a worry that, without an anti-profiteering authority to oversee it, insurers may not pass the savings from the lo

Posted in GST | 459 Views