The council could also acquire up advice of your fitment committee on inverted duty framework of 15 objects, officers aware of the make a difference explained to ET. nonetheless, a broader technique of charge rationalisation could be pushed for later, they stated.

Ayurvedic practitioner claims she hardly ever eats ‘skin of potato, seeds of tomato, and white pith of pepper’; we learn why

Maharashtra and Goa have three benches jointly for hearing appeals, While Tamil Nadu and Puducherry have two benches together. Each and every with the northeastern states has a single tribunal bench.

The regulation committee has advisable the introduction of a fresh Section 11A for the CGST Act, mentioned a report

The Council has okayed a few ministerial groups’ reports, considered one of which will bring on alterations inside the tax costs relevant on quite a few items.

The provisional attachment shall continue to be legitimate for the entire interval ranging from the initiation of any continuing until the expiry of the period of 1 year in the day of purchase built thereunder.

the most recent report issued towards the tip of 2022 is most probably like the 1st report, submitted earlier that calendar year, apart from the divergent thoughts explained higher than.

Offshore entities of Indian authentic dollars gaming applications are trying to lure prospects with social media marketing adverts, promising their bets gained’t be taxed under the 28% slab of the products and solutions tax (GST). This and even more in these days’s ETtech Morning Dispatch.

50th GST Council Conference occurred on 11th July 2023. selection was taken to mail intimations for excessive ITC statements in GSTR-3B when compared to GSTR-2B higher than a specific Restrict by means of DRC-01C to seek reaction. even more, GST on online gaming was fixed at 28% on full confront benefit.

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beneath particular person settlement agreements submitted today, Gelvan and his associates are completely barred from participating in any charitable fundraising, and from deceiving buyers in any other fundraising work - including for political motion committees (PACs).

The new rule, which came into power from April one, 2024, was brought in from the central lender to be sure "reasonableness and transparency" in disclosure of penal curiosity. nonetheless, banking companies have asked the tax authorities to spell out their stand on the issue.

"The GST Council’s intention is not to hurt the web gaming marketplace or states with casinos...I am very pleased to mention that the Council discussed and understood the make a difference deeply and took a decision which were pending for 2-3 years," Finance Minister Nirmala Sitharaman claimed while in the press briefing.

Comparatively more info tiny of the money raised – at times below two p.c – went to the so-termed charities’ charitable missions.