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CBIC GST CLARIFICATION
Online gaming money tax dispute: GST to be charged on full value of the deposit, rules Supreme Court, know how it impacts the playersThe Supreme Court has settled India's online gaming tax dispute. GST will now be charged on the full value of player deposits, not just the...- Finance ministry may review MOOWR benefits for battery storage importsThe Finance Ministry is set to discuss customs warehousing benefits for imported battery storage systems. Industry groups have raised conce...
- GST not applicable on post-sale discounts given by manufacturers to dealersThe CBIC has clarified that post-sale discounts from manufacturers to dealers for competitive pricing and sales promotion are not subject t...
- Set up mechanism for grievance redressal in registration applications: CBIC to central GST officersThe CBIC has directed central GST officers to establish a grievance redressal mechanism for GST registration applications, requiring monthl...
- CBIC sets seven-day deadline for granting GST registrationBusinesses can now obtain GST registration within 7 days, while applications deemed high-risk will be processed within 30 days following a ...
- Is GST payable on gift card, voucher purchase? Govt clarifiesIn the electronic commerce space, vouchers have become a widely used tool to enhance customer engagement, drive sales, and optimize loyalty...
- No GST on penal charges levied by banks, NBFCs: CBICGST will not be charged on penal charges levied by banks and NBFCs, as clarified by the CBIC. This exemption is due to such charges being d...
- Voucher transactions not liable to GST: CBICIndia's CBIC clarified transactions involving vouchers do not constitute supply of goods or services and are not liable to GST. GST will on...
- ESOPs exempt from GST, barring where foreign companies charge additional amountThe Central Board of Indirect Taxes and Customs (CBIC) clarified that multinational companies offering Employee Stock Purchase Plans (ESPPs...
- Real estate developers, RWAs liable to pay GST for over-charging electricity tariff from flat ownersThe Central Board of Indirect Taxes and Customs (CBIC) has clarified that real estate developers and Resident Welfare Associations (RWAs) w...
- Electricity supply by realty firms, mall owners, airport operators to attract 18% GST"It is clarified that whenever electricity is being supplied bundled with renting of immovable property and/or maintenance of premises, as ...
- WTC Mumbai submits memorandum for GST issue redressalThis memorandum highlights the emerging challenges or concerns of the industry and suggests suitable recommendations to address these chall...
- Services by directors to companies not taxable under GST RCM: CBICCompanies will not have to deduct GST under reverse charge mechanism (RCM) on services such as renting of immovable property provided by di...
- 'Sops for RuPay, BHIM-UPI are subsidy, not taxable'The Central Board of Indirect Taxes and Customs (CBIC) Friday clarified that incentives paid by the Ministry of Electronics and Information...
- Ice-cream parlours to attract 18% goods and services tax: CBICIt said in a circular that past tax dues of ice-cream parlours that attracted GST at the rate of 5% without input tax credit shall be treat...
- CBIC clarifies ambiguity on GST on pre-packaged items, new rates from MondayAlso the clarification said that if several packages intended for retail sale to the ultimate consumer, say 10 packages of 10 Kg each, are ...
- Papad, irrespective of shape, is exempt from GST, says Central Board of Indirect Taxes & Customs"Papad, by whatever name known, is exempt from GST vide Entry No. 96 of GST notification No.2/2017-CT(R). This entry does not distinguish b...
- Salaries paid to company directors not to attract GST: CBIC"The part of director's remuneration that are declared as 'salaries' in the books of a company and subjected to TDS under Section 192 of th...
- High value cars, jewellery to become cheaper as TCS to be excluded in computing GSTThe CBIC in a circular said that the TCS amount would be excluded from the value of goods while computing the Goods and Services Tax (GST) ...
- E-commerce companies not to collect TCS from suppliers with less than Rs 20 lakh turnover: CBICAs per GST provisions, beginning October 1, 2018, e-commerce companies deduct 1 per cent TCS before making payments to their suppliers.
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