In a major impetus to promoting sports in the country, the GST Council in its 23rd meeting held at Guwahati on 10th November, 2017, has exempted the import of specific sports goods by sports persons of outstanding eminence from the ambit of Integrated Goods and Services Tax (IGST).
Expressing his gratitude, Minister of State (I/C) Youth Affairs and Sports and Minister of State for Information and Broadcasting Col. Rajyavardhan Singh Rathore thanked Prime Minister Shri Narendra Modi, Finance Minister Shri Arun Jaitley and the GST Council for the decision. He added that the move is a major institutional support for sports and will be a big boost to promoting sports in the country. The change in IGST exemption will come into effect from 15th November 2017.
Exemption from IGST on import of specific sports goods
News posted by
CCI News Desk
Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.
Recent News :
- GST Council Recommends Major Compliance Reforms: IPR Taxation, Late Fee Relief and E-Invoicing Changes
- GST Council Recommends Major Reforms in ITC Refunds, Blocked Credits and Export Benefits
- GST Council Recommends Changes to E-Way Bill Rules to Ensure Smoother Movement of Goods
- GST Council Recommends Withdrawal of Arrest Powers, Raises Prosecution Threshold to Rs 5 Crore
- 57th GST Council Recommendations Relating to Services
- 57th GST Council Meet Recommends Changes and Clarifications in GST Rates on Goods and Services
- GST Dispute Reforms: Rs 10,000 Notice Threshold and 5% Penalty Proposed in Non-Fraud Cases
- GST Council Proposes Automated Refunds, 90% Provisional Refunds and Faster Processing
- GST Return Reforms: New ITC Reconciliation Mechanism Proposed from April 2027
- 57th GST Council Meet Recommends Major GST Registration Reforms for Faster Approvals
Popular News
- Central Excise Duty Rates Revised: Rs 16 and Rs 10.5 Per Litre Effective 1st October 2026
- Supriya Sule Urges FM Sitharaman to Extend Tax Audit Due Date for AY 2026-27
- ICAI Delegation Meets CBDT Member Vatsala Jha, Raises Tax Audit Deadline Concerns
- CBDT Extends Tax Audit Due Date for AY 2026-27 to 21st October 2026; ITR Deadline Moved to 21st November
- MP High Court Petitions Challenge AY 2026-27 Tax Audit Deadline
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
