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Missouri state revenue drops after tax reforms; other areas see increases

Tax season is quickly approaching and the state of Missouri is gearing up for the tax return season. ....

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GoM on online gaming, casinos broadly agrees on 28% GST, Goa differs

The GoM on online gaming, horse racing and casinos had a broad agreement that a 28 per cent GST should be levied on all the three supplies, but a consensus eluded on taxability of online games, as Goa suggested an 18 per cent tax on platform fees, sources said. ....

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Corporate equity allowance can fix tax system

Australia s corporate tax system is unsustainable, has a negative impact on investment and a bias towards debt, according to a new report from The Australian National University (ANU). ....

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GST Council meet begins, tax rate cut on Covid essentials on agenda

The GST Council in its meeting on Friday would take up for discussion proposal for cut in the tax rate on COVID medicines, vaccines and oxygen equipments as well as means to make up for the shortfall in revenues promised to states.
The 43rd GST Council meeting, chaired by Finance Minister Nirmala Sitharaman and comprising state finance ministers, is being held via video conferencing. The council is meeting for the first time in nearly eight months.
Ahead of the first meeting of the top decision-making body, finance ministers of eight states ruled by non-BJP and its like-minded parties Rajasthan, Punjab, Chhattisgarh, Tamil Nadu, Maharashtra, Jharkhand, Kerala and West Bengal have devised a joint strategy to press for a zero tax rate on COVID essentials, sources said. ....

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Govt extends due date for filing FY20 GST annual returns till March 31

The government on Sunday extended the deadline for filing GST annual returns for 2019-20 fiscal by a month till March 31.
This is the second extension given by the government. The deadline was earlier extended from December 31, 2020, to February 28.
In view of the difficulties expressed by the taxpayers in meeting this time limit, Government has decided to further extend the due date for furnishing of GSTR-9 and GSTR-9C for the financial year 2019-20 to March 31, 2021 with the approval of Election Commission of India, the Finance Ministry said in a statement.
GSTR 9 is an annual return to be filed yearly by taxpayers registered under the Goods and Services Tax (GST). It consists of details regarding the outward and inward supplies made or received under different tax heads. ....

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