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#MCOpinion: The upcoming meeting of the #GST Council is required to make several crucial and long pending decisions. These include a roadmap for appellate tribunal and rationalisation of taxes as also taxing of online gaming

Read more 👇
https://bit.ly/3j31j3f

GST Council must act on pending decisions at its Saturday meeting

A roadmap for the creation of the appellate tribunal, taxing of the online gaming sector and rationalisation of slabs are some crucial decisions that the Council should not delay any longer

5.9K views03:30

#MCProOpinion: #FinanceMinister #NirmalaSitharaman has highlighted the need to widen the #GST base.

Will the next GST Council meeting on February 18 provide some clues to that strategy? 👇
https://bit.ly/3DJnEL3

Will the GST Council be able to think big and bold?

Resolution of long-pending issues at the February 18 meeting will be a pointer to the GST Council’s intent to move ahead with wider reforms

8.2K views04:34

There have been multiple teething issues since the #GST regime was implemented.

Here’s a look at some GST-related controversies so far and try to gauge the likely trends in the near future👇

https://bit.ly/3CY6fgQ

9.8K views08:13

The GoM decided to levy a 28% #GST on the full value of online gaming, horse racing and casinos with no distinction between games of skill and chance in the 50th #GSTCouncilMeeting.

Check out all the key takeaways 👇

🔴 Watch the GST briefing
https://youtube.com/watch?v=2K5M2VoTuos

9.7K views17:21

The Union government will set up an online audit mechanism under #GST in order to streamline the process.

Find out more details👇
https://www.moneycontrol.com/news/business/economy/govt-to-set-up-online-audit-mechanism-under-gst-says-parliamentary-panel-11043911.html?utm_source=telegram&utm_medium=social

Govt to set up online audit mechanism under GST, says parliamentary panel

The recommendation was made in view of the concern with respect to audit in GST under which a large number of documents are being sought from taxpayers for conducting an audit

6.8K views13:12

Union Finance Minister Nirmala Sitharaman on August 2 announced the decision to impose a 28% tax on the full face value of bets placed on #OnlineGames.

Here’s how several industry players reacted to the 28% #GST on online gaming announcement 👇
https://www.moneycontrol.com/news/economy/policy/28-gst-on-online-gaming-industry-players-react-to-fms-announcement-11084521.html

28% GST on online gaming: Industry players react to FM’s announcement

Only established and well-entrenched skill gaming companies may be able to scrape through this change by using their existing capital reserves to counter the effects of increased tax liability, the All India Gaming Federation said

11.2K views15:30

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On #MorningTrade

👉Will Nifty stage a rebound last week’s slump
👉PSU banks in the spotlight; should you ride the wave?
👉Stock of the day: Delta Corp faces Rs 17,000 cr #GST claims
👉Hot brokerage call of the day
👉JSW Infra IPO kicks off; should you subscribe?

Live @ 8.30 AM
https://www.youtube.com/watch?v=_oqxQrJSGtM

10.5K views02:58

#MCExclusive | The #GSTCouncil, in its meeting on October 7, is likely to clarify that electricity supply by real estate firms, malls, and airports to lessees is exempt from #GST.

More details here 👇
https://www.moneycontrol.com/news/business/economy/mc-exclusive-council-may-clarify-electricity-supply-to-tenants-by-malls-exempt-from-gst-11483381.html?utm_medium=social&utm_source=telegram&utm_campaign=regular-editorial

MC Exclusive: Council may clarify electricity supply to tenants by malls exempt from GST

A Calcutta High Court ruling in 2017, had declared that supply by any entity is not authorised to distribute electricity should be taxed, whereas the Delhi Electricity Regulation Commission had ruled that such supply is GST exempt. The Council is expected…

7.8K views10:15

#GSTCouncilMeeting | The #GSTCouncil decided to exempt Extra Neutral Alcohol (ENA), a key raw material for manufacturing alcoholic liquor for human consumption, from #GST giving states the exclusive right to tax the item.

More details here 👇
https://www.moneycontrol.com/news/business/gst-council-meet-ena-for-human-consumption-will-be-out-of-gst-ambit-11494291.html?utm_medium=social&utm_source=telegram&utm_campaign=regular-editorial

GST Council Key Takeaways: Human consumption ENA out of GST, tax cuts on molasses, millets

The GST Council also reduced the tax rate on branded, pre-packaged and labelled millet-based flour to 5% from 18%

11.2K views11:31

Government takes action on GST fake invoices: Revenue Secretary announces the elimination of the edit option to revise output liability.

Details to be deliberated in the upcoming #GST Council meeting this month⏬
https://www.moneycontrol.com/news/business/economy/gst-fake-invoices-govt-to-do-away-with-edit-option-to-revise-output-liability-says-revenue-secretary-12195111.html?utm_medium=social&utm_source=telegram&utm_campaign=regular-editorial

GST fake invoices: Govt to do away with edit option to revise output liability, says Revenue Secretary

The proposal will be discussed at the next GST Council meeting likely this month.

8.4K views08:14

#MCTrends | MakeMyTrip CEO Rajesh Magow expects GST reforms & tax incentives to boost the travel industry. 🛫✨

Read more🔽
https://www.moneycontrol.com/news/trends/travel/union-budget-2024-from-uniform-gst-on-hotel-rates-to-tax-incentives-heres-what-makemytrip-ceo-magow-expects-12760801.html#google_vignette

#MakeMyTrip #CEO #GST #TaxIncentives #TravelIndustry #UnionBudget2024

Union Budget 2024: From uniform GST on hotel rates to tax incentives, here’s what MakeMyTrip CEO Magow expects

Budget 2024-25: Rajesh Magow, Co-founder & Group CEO of MakeMyTrip thinks the time is right for the FM to build on the momentum the travel and tourism industry is in at the moment and introduce certain changes that would incentivise the players

11.1K views13:55

#Business | 🌐 Foreign airlines decline GST data request from authorities. They claim not to track detailed service valuations.

Know more about this👇
https://www.moneycontrol.com/news/business/foreign-airlines-refuse-to-provide-data-sought-by-gst-authorities-12765025.html

#DGCI #GST #ForeignAirlines #Valuations

Foreign airlines refuse to provide data sought by GST authorities

The DGGI of GST had sought data related to valuation of services provided by the foreign airline to the Indian arms. However, the airlines have told the authorities that they do not maintain such granular data

14.6K views16:37

#MCOpinion | #Budget: The industry is hoping that a new provision which allows refund of the taxes paid in excess to the government is implemented in this Budget. 💰 Providing guidance to the industry by having a dedicated provision in law may help in reducing litigation📈

Tap to read more⤵️
https://www.moneycontrol.com/news/opinion/budget-2024-should-allow-refund-of-excess-taxes-paid-under-cgst-12765554.html

#Refund #Taxes #Government #Budget #GST #NirmalaSitharaman

Budget 2024 should allow refund of excess taxes paid under CGST

Budget 2024-25: GST Council recommended change in CGST to regularise short-levy of tax. But tax payers can’t claim refunds for excess payments. Budget can set it right

13.4K views07:40