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GOM SUGGESTIONS ON GST
State finance ministers' panel discusses ways to curb ITC frauds, sector-specific tax evasionA panel of state finance ministers convened to address the escalating issue of tax evasion, particularly concerning Input Tax Credit (ITC) ...- GST rate rationalisation needed: Finance Secretary Tuhin KantaFinance Secretary Tuhin Kanta Pandey emphasized the need for GST rate rationalisation, drawing upon the experience gained since its impleme...
- GoM decides to cut GST on 20-litre water bottles, bicycles to 5%; raise rate on shoes, watchesThe GoM on GST rate rationalisation has proposed lowering tax rates to 5% on 20-litre packaged drinking water bottles, bicycles, and exerci...
- GST Council forms GoM to review tax rate on health, life insurance; report by Oct 30The GST Council has formed a 13-member Group of Ministers to recommend GST rates on health and life insurance premiums. Bihar Deputy Chief ...
- MoS Finance likely to be convenor of GoM on GST compensation cessA Group of Ministers led by Union Minister Pankaj Chaudhary will rework the GST compensation cess nomenclature. The panel will suggest how ...
- Finance Ministry releases Rs 1.1 lk cr as third instalment of tax devolution to state govts"One advance instalment in addition to the regular instalment due in June 2023 is being released to States to enable them to speed up capit...
- FinMin starts process for deciding on convenor of GST rate rationalisation GoMIndia's finance ministry has started the process of deciding on a new convenor of the GoM on GST rate rationalisation. The position has bee...
- GST Council meet: Decriminalisation of offences, curbing tax evasion in pan masala, gutkha biz on agendaBesides, GST on online gaming and casinos may come up for deliberations as the Group of Ministers (GoM), chaired by Meghalaya Chief Ministe...
- GoM on GST levy on casinos, online gaming to submit report next weekThe GoM in its earlier report submitted to the council in June had suggested a 28 per cent GST on the full value of the consideration, incl...
- GoM still divided on 28% e-gaming GST, GGR levyUP and WB favoured a differential treatment between games of ‘skill’ and ‘chance’, say sources.
- GoM likely to recommend 28% GST on online gaming; Council to take decision on basis of valuationThe GoM, chaired by Meghalaya Chief Minister Conrad Sangma, met virtually on Tuesday to discuss and conclude their long pending report on t...
- Ministers' panel may recommend 28% GST on online gaming, tweak in calculation methodThe Group of Ministers (GoM), chaired by Meghalaya Chief Minister Conrad Sangma, had in its earlier report submitted to the Council in June...
- Game of skill or chance? GST law panel for clear definitionMany courts have overlapping definitions and it will be better if there is a uniform framework for this, the law committee has told the GoM...
- GoM on casinos, online gaming, horse racing to submit report to FM Nirmala in a day or two: SourcesRegarding casinos, the GoM had recommended that the tax should be levied on the full face value of the chips/coins purchased from a casino ...
- GoM suggests no change in GST rate on online gaming, sticks to 28% recommendationThe 47th GST Council meeting, chaired by finance minister Nirmala Sitharaman, had last month decided to constitute a GoM to address various...
- GoM on GST levy on casinos, online gaming to meet on July 12Addressing a conference on GST organised by Federation of Indian Chambers of Commerce & Industry (FICCI), Uttar Pradesh finance minister Su...
- GoM suggests cut in GST on Covid relief material to 5 per centThe GoM, headed by Meghalaya chief minister Conrad Sangma, has suggested reduction in GST rates of Covid relief material to 5% on items inc...
- GoM wants exemption limit for MSMEs to be increased, GST council yet to decideThe Group of Ministers under Modi has also suggested to the GST Council to allow additional borrowing over the permitted limit by states hi...
- GST ministerial panel favours Kerala levying 1% cess for 2 yearsThe Group of Ministers under Modi has also suggested to the GST Council to allow additional borrowing over the permitted limit by states hi...
- GoM for 12% GST on AC eateries, composition scheme tax cutAt present, while manufacturers pay GST at 2 per cent, the rate for restaurants is 5 per cent. Traders currently pay 1 per cent.
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