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Is Dream11 a gambling & betting site? This GST ruling settles the case

Is Dream11 a gambling & betting site? This GST ruling settles the case

Tencent-backed Dream11 offers an online fantasy game, wherein players can create different virtual sports teams, comprising as many players in real life cricket teams.

Budget 2019: Expecting broad-mindedness in the broad-based GST

Budget 2019: Expecting broad-mindedness in the broad-based GST

In the second anniversary of GST it is desirable that, a more liberal and commercially sensitive approach is adopted.

GST collection dips below Rs one lakh crore in June

GST collection dips below Rs one lakh crore in June

Gross GST collection stood at Rs 1,00,289 crore in May and Rs 1,13,865 crore in April.

GST return filing remains less than desired, GSTR-3B compliance around 60 percent

GST return filing remains less than desired, GSTR-3B compliance around 60 percent

In the current financial year, while around 55 lakh businesses were eligible to file GSTR-1, about 25 lakh and 20 lakh businesses have filed the return in April and May, respectively.

GST may become two-tier tax with merger of 12%, 18% slabs: Arun Jaitley

GST may become two-tier tax with merger of 12%, 18% slabs: Arun Jaitley

Jaitley said that most items of consumer use have been brought in the 18 per cent, 12 per cent and even 5 per cent category.

View: Much thought has gone into India’s unique GST design

View: Much thought has gone into India’s unique GST design

First and foremost was the fact that the taxation powers of indirect taxes were divided between the states and the Centre.

Two years of GST: The past, present and expectations

Two years of GST: The past, present and expectations

Hiccups are expected in anything new, but after two years there has to be a climate of certainty with smooth GSTN network and minimum changes in law.

Government to introduce further reforms in GST on Monday to mark 2 years of rollout

Government to introduce further reforms in GST on Monday to mark 2 years of rollout

The govt set to announce a bunch of new GST reforms on Monday to mark two years of the GST implementation.

View: GST, the most audacious tax reform- A leap of faith and political determination

View: GST, the most audacious tax reform- A leap of faith and political determination

The goods and services tax (GST) is a destination-based, value added tax on final consumption by both the Centre and the states on the same tax base.

Two years of GST: Road ahead for one nation, one tax

Two years of GST: Road ahead for one nation, one tax

The one-nation, one-tax revolution has seen a few hiccups, but it’s settling down and benefits should start to flow sooner rather than later.

Promoters, directors now getting SMS alerts for discrepancies in returns filed, GST non-payment

Promoters, directors now getting SMS alerts for discrepancies in returns filed, GST non-payment

Dubbed as an anti-evasion step, transporters and businesses are required to generate e-way bill for transporting goods more than Rs 50,000.

Government uses GST alerts for better compliance

Government uses GST alerts for better compliance

The GST authorities also raise an alarm in case the input tax credit (ITC) does not match with the claims made in GSTR 2A return form and GSTR 3B filing.

Soon, GST taxpayers will get 'risk scores'

Soon, GST taxpayers will get 'risk scores'

Government is working on an extensive plan for audits of GST returns from July.

Soon, GST taxpayers will get 'risk scores'

Soon, GST taxpayers will get 'risk scores'

An extensive plan is being worked out even though annual return filings has been postponed by two months to August 31.

Anti-profiteering investigation: Mock purchases, premise visits planned to check B2B invoices

Anti-profiteering investigation: Mock purchases, premise visits planned to check B2B invoices

GST officials likely to identify top 20 suppliers in their jurisdiction.

GST council extends tenure of anti-profiteering body

GST council extends tenure of anti-profiteering body

The 35th Council meeting was the first to be chaired by the new finance minister Nirmala Sitharaman.

Sitharaman's first GST Council meet to decide on NAA extension, single point refund system

Sitharaman's first GST Council meet to decide on NAA extension, single point refund system

The Council is likely to discuss a mechanism for single point sanctioning and processing GST refunds.

GST has led to inequity in tax treatment of Indian shipping cos vs their foreign counterparts

GST has led to inequity in tax treatment of Indian shipping cos vs their foreign counterparts

In a high-volume, low margin business like shipping, even a 5 percent cost disadvantage can dent the competiveness of domestic shipping businesses significantly.

I-T returns: 3,500 exporters under lens

I-T returns: 3,500 exporters under lens

"Traders who have clean transactions have nothing to fear and will not face any hardship," a tax official said.

Bogus IGST refund claims: Government to verify exporters' claims before sanctioning

Bogus IGST refund claims: Government to verify exporters' claims before sanctioning

Tax experts said the move to verify the refund claims would delay the process of refund issuances to exporters.

GST on electric vehicles may be reduced to 5%

GST on electric vehicles may be reduced to 5%

The GST Council is set to take up the proposal at its June 20 meeting, said a govt official aware of the development.

ClearTax launches Quick GSTR-9 for speedy filing

ClearTax launches Quick GSTR-9 for speedy filing

It has a specifically tailored reduced version of ClearTax’s 5-point checklist to help a faster review for a CA.

Centre rules out bringing oil products under GST for now

Centre rules out bringing oil products under GST for now

The Centre is of the view that the state govts may not support such a move as petroleum products are among a handful of items on which states still have control after the introduction of GST.

GST return filing: These are the major changes in the process from July

GST return filing: These are the major changes in the process from July

Large taxpayers will continue to file the GSTR-3B during the months of October and November 2019, after which they will have to start filing FORM GST RET-01.

New GST return system for taxpayers: Here are all the details

New GST return system for taxpayers: Here are all the details

The GST Council in its 31st meeting had decided that a new GST return system will be introduced for taxpayers.

More items likely to go off highest GST slab

More items likely to go off highest GST slab

Some states fear slowdown may get entrenched, reach out to Centre; GST Council may meet on June 20.

CPI preparing a memorandum on GST rates to save MSME

CPI preparing a memorandum on GST rates to save MSME

The Micro, Small and Medium Enterprises (MSME) sector was seriously affected due to the higher GST rates in India, particularly Tamil Nadu.

Exporters want benefits of Capital Goods Scheme under GST regime

Exporters want benefits of Capital Goods Scheme under GST regime

Move Supreme Court against government which has set conditions for exporters to avail benefits of the scheme.

IGST credit accrued in FY18 won't lapse even if not availed in that fiscal: Finance Ministry

IGST credit accrued in FY18 won't lapse even if not availed in that fiscal: Finance Ministry

The ministry also advised taxpayers to file the correct data about tax payment and other details as reported in monthly sales returns in annual return GSTR-9 by omitting the auto populated data.

Companies to take GST audit exam; Experts want no penal action

Companies to take GST audit exam; Experts want no penal action

The audit is significant because this is the first time that GST returns and the accounts of companies will be scrutinised for compliance levels.

Govt probes I-T and GST mismatch in crackdown against evaders

Govt probes I-T and GST mismatch in crackdown against evaders

One of the most glaring gaps noticed by tax officials is the use of shell companies to make bogus claims. In several cases of fraudulent claims, identity theft was also noticed.

GSTN move to give leg-up to software product firms

GSTN move to give leg-up to software product firms

Six firms to offer software free of cost to the targeted 8 million small businesses.

Benefits from lower GST rate must be passed on to home buyers: NAA

Benefits from lower GST rate must be passed on to home buyers: NAA

The NAA after considering the legal provisions and facts of the case, held that the contention of the developer that computation of the benefit/ loss could not be done before completion of the project is not tenable.

GST: Post-supply discounts or distress?

GST: Post-supply discounts or distress?

Considering the fact that the full amount of GST as applicable on the original transaction value remains paid to the government, there is no revenue loss to the exchequer.

GST: Why businesses must prepare GSTR-9 without any delay

GST: Why businesses must prepare GSTR-9 without any delay

Some businesses are yet to draw reconciliations, between GSTR-1, GSTR-2A and GSTR-3B. Too many changes in the process of filing have kept some away from compliance with GSTR-9.

Government likely to introduce electronic invoice system under GST

Government likely to introduce electronic invoice system under GST

This sub-group will examine and recommend the business process, policy and legal aspects for generation of e-invoice.

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