GST Council’s decisions will help small e-commerce sellers: Nasscom

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[ad_1] Industry body Nasscom on Thursday said the decision of the GST Council to waive mandatory registration requirement for online sellers as part of the composition scheme will help small sellers to have a level playing field. The composition taxpayers, making interstate supplies through e-commerce operators, will yield additional avenues for growth to small sellers. …

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GST’s half-a-decade journey: Tech usage to plug revenue leaks, Rs 1.3 lakh crore monthly tax ‘new normal’

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India’s biggest tax reform, the Goods and Services Tax (GST), completes its half-a-decade journey on June 30, with many hits and some misses, and also brought about a paradigm shift in use of technology to bring about tax compliance and making over Rs 1 lakh crore revenue collection every month ‘a new normal’. A nationwide …

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GST Council defers decision to hike tax rate on online gaming to 28%

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The Goods and Service Tax (GST) Council on Wednesday deferred a decision on the proposal to raise the GST on online gaming from 18% to 28% on the skill gaming to bring it at par with chance games involving gambling and betting, Karnataka chief minister BS Bommai said. ”The decision on online gaming has been …

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GST Council waives mandatory registration for small businesses selling via e-commerce

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Ease of Doing Business for MSMEs: More small businesses are likely to sell on e-commerce platforms as the Goods and Services Tax (GST) Council on Wednesday waived the mandatory registration for businesses supplying goods with turnover up to Rs 40 lakh. Currently, sellers selling goods or services online have to be GST-registered despite their turnovers …

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GST Council to discuss removing exemptions on host of services

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The GST Council in its two-day meeting that began here on Tuesday will deliberate on the recommendations for withdrawal of GST exemption on a host of services including on hotel accommodation of less than Rs 1,000 per day, sources said.The Council, headed by Union Finance Minister Nirmala Sitharaman and including representatives of all states and …

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GST Council meet: States’ compensation, tax tweaks on cards | 5 points

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The GST Council, headed by Union finance minister Nirmala Sitharaman and comprising representatives of all states and UTs, is meeting after a gap of six months. The GST Council is likely to makes changes in goods and services tax rates on a handful of items during the two-day meeting in Chandigarh starting Tuesday. But the …

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GST Council’s 47th meeting, first of the year, begins in Chandigarh

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A slew of key decision are likely to be taken at the 2-day conference, which will conclude on Wednesday. A 2-day conference of the GST Council began in Chandigarh on Tuesday, and is being chaired by Union finance minister Nirmala Sitharaman. Also present for the meeting are Minister of State for Finance, Pankaj Chaudhary, finance ministers …

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Changes in monthly GST payment form GSTR-3B? GST Council to decide next week

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[ad_1] New Delhi: The GST Council in its meeting next week is likely to consider a proposal for making changes in the monthly tax payment form — GSTR-3B, which would include auto-population of outward supplies from sales return and non-editable tax payment table, officials said. The move would help curb the menace of fake billing, …

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Centre extends GST cess till March 2026: Rs 8.22 trillion released to states so far

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[ad_1] Ahead of the end of the five-year goods and services tax (GST) shortfall compensation to states on June 30, the Centre has extended the ‘compensation cess’ till March 31, 2026. The extension, which was earlier approved by the GST Council, is necessary to repay the principal and service the interest cost of the loans …

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Indirect tax reforms: A job half done; GST underperforms for its faulty design, rate hike agenda regressive

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[ad_1] As India’s goods and services tax (GST) completes five years on June 30, it has, at best, just begun to exhibit flashes of innate brilliance. Revenues have been very buoyant in recent months, so the Centre now expects receipts from this main indirect tax in the current financial year to be a fifth higher …

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