CBIC Issues SOP for Officials to Prevent Taxpayer Harassment
| | | |

CBIC Issues SOP for Officials to Prevent Taxpayer Harassment

The Central Board of Indirect Tax and Customs (CBIC) has approved a detailed standard operating procedure for officials of the Directorate General of GST Intelligence (DGGI) with specific instructions regarding their conduct during tax investigation, summons and searches to improve the ease of doing business and to prevent any incident of harassment to taxpayers. The…

HC Stays ₹80cr GST Demand on Hyundai Seconded Employees Pay
| | |

HC Stays ₹80cr GST Demand on Hyundai Seconded Employees Pay

The Madras HC has stayed a GST demand of about ₹80 crore on salary paid by Hyundai Motors to seconded employees. The company had challenged the December 23, 2023 tax demand notice from the GST authorities, which had considered the entire salary amount paid to seconded employees as taxable. Secondment, a common practice among global…

Insurance Cos Plan to File Writ Petition Seeking GST Clarity
| | |

Insurance Cos Plan to File Writ Petition Seeking GST Clarity

Insurance players are planning to file a writ petition over the tax demand on commission paid for co-insurance, seeking a clarity from the court as levying Goods and Services Tax (GST) on the commission will amount to double taxation. Staring at a collective tax demand of ₹12,000crore, the insurance sector was waiting for the GST…

Plain Afoot to reclassify Items for GST Clarity
| | | |

Plain Afoot to reclassify Items for GST Clarity

The Central Board of Indirect taxes and Customs (CBIC) is planning to prepare a list of products which end up in litigation purely due to classification issues. The fitment committee is likely to look into such items where there is a minor change in composition but the tax slabs are different, creating con fusion in…

Zomato, Swiggy to Clarify Stance on GST Notice
|

Zomato, Swiggy to Clarify Stance on GST Notice

Zomato and Swiggy are planning to approach goods and services tax authorities to explain their position, after they received notices seeking tax on delivery fees collected from consumers. The issue could have wider implications, as a senior government official said other companies collecting such fees from users could also be asked to pay tax on…

Gaming Execs Fear Tax Rising 1,400% on DGGI Calculation
|

Gaming Execs Fear Tax Rising 1,400% on DGGI Calculation

The Directorate General of GST Intelligence (DGGI), which has issued over a dozen show cause notices to real-money gaming platforms, has calculated the dues on the actual bets placed on portals since 2017, sources in the know told ET. “In the case of Dream11, bets worth 1 lakh crore were placed and this has attracted…

Layoffs and Shutdowns as GST Chars Real-money Gaming Cos
|

Layoffs and Shutdowns as GST Chars Real-money Gaming Cos

The move to impose 28% goods and services tax on online gaming at full face value has started shaking up the real money gaming sector even before its implementation, with layoffs, shutdowns and funding troubles. Consider this: Bengaluru-based unicorn Mobile Premier League (MPL) has laid off 350 employees, citing the additional tax burden. Kavin Bharti…

Record 82,628 Cos, LLPs Incorporated
|

Record 82,628 Cos, LLPs Incorporated

A record 82,628 entities including companies and limited liability partnership (LLP) firms were incorporated in India in the first four months of the current fiscal, the ministry of corporate affairs (MCA) said on Wednesday, citing data from the latest version of its corporate filing portal. Also, as many as 1.96 million forms were filed on…

FM: 28% GST on Online Gaming from October
|

FM: 28% GST on Online Gaming from October

India will impose 28% goods and services tax (GST) on the full face value of bets placed in online games, including overseas platforms, as well as casinos and horse racing. The move, ignoring entreaties by online gaming companies for a reprieve, will come into effect on October 1, the finance minister said. Redeployed winnings will…

Finmin, Meity Differ over 28% eGaming Levy
|

Finmin, Meity Differ over 28% eGaming Levy

A difference of opinion has emerged between the finance ministry and the ministry of electronics and information technology (MeitY) over the Goods and Services Tax Council’s July 11 decision to impose 28% GST on online gaming at full face value, said people aware of the development. Officials from the two central ministries have held meetings…