India s group of ministers has agreed on a 28% GST on online gaming, horse racing and casinos, but could not reach a consensus on the taxability of online games. Some states suggested a 18% tax on platform fees while others suggested a 28% tax on GGR or commission on all three supplies. The GST Council is expected to take a final view on the taxation rate and taxability of the three activities on July 11.
India s Goods and Services Tax (GST) collection for June reached Rs 1.61 lakh crore, showing a 12% growth. This is the fourth time since the inception of GST that the collection has crossed the Rs 1.6 lakh crore mark. Revenues from domestic transactions, including imports, were 18% higher than the previous year.
GST Appellate Tribunal will be the first joint forum where the dispute resolution process will converge for all GST laws and both Central and state tax administration. In it, Centre and states must have equal representation
From being a socialist economy to a growth-oriented one, India’s tax regime mirrors the country’s changing economic policies - Issue Date: Oct 02, 2022
From being a socialist economy to a growth-oriented one, India’s tax regime mirrors the country’s changing economic policies - Issue Date: Oct 02, 2022