Gst Council

GST Council headed by Union Finance Minister Nirmala Sitharaman on Monday decided to set up a Group of Ministers (GoM) on reducing tax rate on life and health insurance and cut GST on cancer drugs and namkeens.

Union Minister Nitin Gadkari on Monday said state finance ministers should consider reducing Goods and Services Tax (GST) on flex-fuel vehicles to 12 per cent in the GST Council meeting.

Petrol and diesel could be taxed under GST (Goods and Services Tax) rather than VAT (Value Added Tax) if state governments agree to the proposal and fix a suitable rate, Finance Minister Nirmala Sitharaman told NDTV Profit Friday.

Union Finance Nirmala Sitharaman chaired pre-Budget consultations with finance ministers of states and Union Territories to take their views. It was followed by the 53rd meeting of the GST (Goods and Services Tax) Council today.

The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet after a gap of eight months on June 22, and is likely to review the implementation of 28 per cent GST on the online gaming sector.

India's online gaming industry has received show-cause notices amounting to Rs. 1 lakh crore say sources. The notices come even as the industry has raised concerns on the applicable GST Rates.

The GST Council on Saturday clarified that guarantees provided by corporates to their subsidiaries will attract an 18 per cent GST, while no tax will be levied if a personal guarantee is given by a director to the company.

The GST Council on Saturday decided to levy a lower 5 per cent tax on millet-based flour when sold in pre-packaged and labelled form, Finance Minister Nirmala Sitharaman said.

Delhi Finance Minister Atishi today said tax evasion notices worth Rs 1.5-lakh crore to online gaming companies will finish them and vowed to seek their withdrawal at the GST Council meeting during the day.

Krafton India, makers of the popular online game BGMI, on Thursday pitched for government support measures to promote the online gaming industry in the country. Krafton India CEO Sean Hyunil Sohn highlighted subsidies given to gaming companies for labour costs by countries like the UAE and Canada and stated that innovative ways can be found to pro...

Economic Advisory Council to the Prime Minister (EAC-PM) Chairman Bibek Debroy on Tuesday said the government was losing revenue due to the GST, which should be revenue neutral with a single rate.

Domestic online gaming companies will be required to deduct 28 per cent GST on bets placed from overseas locations, including by foreign players, as such bets will also be treated as actionable claims.

In some relief to online gaming industry, the GST Council on Wednesday decided that 28 per cent GST will be levied at face value of entry level bets placed in gaming platforms and casinos.

Delhi minister and Aam Aadmi Party (AAP) leader Atishi has assured entrepreneur and influencer Ashneer Grover that she will urge the GST council to reconsider its decision to impose 28 per cent tax on online gaming.

A meeting of the GST Council is set to be held tomorrow via videoconferencing, where the members will discuss and take a final call on the proposal to levy 28 per cent GST on online gaming, casinos and horse racing, finance ministry officials said.

GST Council headed by Union Finance Minister Nirmala Sitharaman on Monday decided to set up a Group of Ministers (GoM) on reducing tax rate on life and health insurance and cut GST on cancer drugs and namkeens.

Union Minister Nitin Gadkari on Monday said state finance ministers should consider reducing Goods and Services Tax (GST) on flex-fuel vehicles to 12 per cent in the GST Council meeting.

Petrol and diesel could be taxed under GST (Goods and Services Tax) rather than VAT (Value Added Tax) if state governments agree to the proposal and fix a suitable rate, Finance Minister Nirmala Sitharaman told NDTV Profit Friday.

Union Finance Nirmala Sitharaman chaired pre-Budget consultations with finance ministers of states and Union Territories to take their views. It was followed by the 53rd meeting of the GST (Goods and Services Tax) Council today.

The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet after a gap of eight months on June 22, and is likely to review the implementation of 28 per cent GST on the online gaming sector.

India's online gaming industry has received show-cause notices amounting to Rs. 1 lakh crore say sources. The notices come even as the industry has raised concerns on the applicable GST Rates.

The GST Council on Saturday clarified that guarantees provided by corporates to their subsidiaries will attract an 18 per cent GST, while no tax will be levied if a personal guarantee is given by a director to the company.

The GST Council on Saturday decided to levy a lower 5 per cent tax on millet-based flour when sold in pre-packaged and labelled form, Finance Minister Nirmala Sitharaman said.

Delhi Finance Minister Atishi today said tax evasion notices worth Rs 1.5-lakh crore to online gaming companies will finish them and vowed to seek their withdrawal at the GST Council meeting during the day.

Krafton India, makers of the popular online game BGMI, on Thursday pitched for government support measures to promote the online gaming industry in the country. Krafton India CEO Sean Hyunil Sohn highlighted subsidies given to gaming companies for labour costs by countries like the UAE and Canada and stated that innovative ways can be found to pro...

Economic Advisory Council to the Prime Minister (EAC-PM) Chairman Bibek Debroy on Tuesday said the government was losing revenue due to the GST, which should be revenue neutral with a single rate.

Domestic online gaming companies will be required to deduct 28 per cent GST on bets placed from overseas locations, including by foreign players, as such bets will also be treated as actionable claims.

In some relief to online gaming industry, the GST Council on Wednesday decided that 28 per cent GST will be levied at face value of entry level bets placed in gaming platforms and casinos.

Delhi minister and Aam Aadmi Party (AAP) leader Atishi has assured entrepreneur and influencer Ashneer Grover that she will urge the GST council to reconsider its decision to impose 28 per cent tax on online gaming.

A meeting of the GST Council is set to be held tomorrow via videoconferencing, where the members will discuss and take a final call on the proposal to levy 28 per cent GST on online gaming, casinos and horse racing, finance ministry officials said.