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Offshore Online Gaming Companies in India Mandated to Register Their Business
The Indian government has mandated offshore online gaming companies operating in the country to register the business locally or appoint a representative to pay tax on funds collected from customers. The move to tax online gaming companies has shocked the nascent $1.5 billion (nearly Rs. 12,430 crore) industry, which is backed by global investors.
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Government Clears Entire GST Compensation Dues To States
Government has cleared the entire Goods and Services Tax (GST) compensation payable till date by releasing Rs 86,912 crore to states
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HDFC Bank Starts Online Customs Duty Payment Facility For Customers
HDFC Bank is the second largest agency bank to the government for collections of direct taxes, and for GST payments.
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Government Collects Second Highest GST Revenue Since Inception In November
GST revenue in November marked second consecutive month of revenue collection above Rs 1.3 lakh crore.
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GST Collections Jump 30% To Rs 1.12 Lakh Crore In August
In August government settled Rs 23,043 crore to CGST and Rs 19,139 crore to SGST from IGST as regular settlement.
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GST Collection Declines In May; Holds Above Rs 1 Lakh Crore-Mark For 8th Month In A Row
According to the Ministry of Finance, the gross GST revenue in May 2021 is 65 per cent higher than the GST revenues in the corresponding month last year
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At Over Rs 1.41 Lakh Crore, GST Collection In April Sets All-Time High Record
According to the Ministry of Finance, the GST revenue in April 2021, is the highest ever since the introduction of the GST system, surpassing the collections made in March 2021
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Net Indirect Tax Collections For 2020-21 Up 12%
The provisional figures released by the Ministry of Finance on Tuesday, further indicated that the net indirect tax collection for 2020-21 showed that 108 per cent of the Revised Estimates (RE) of indirect taxes for that fiscal have been achieved.
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GST Collections Hit Record High Of Rs 1.24 Lakh Crore In March
The total revenue of Centre and the States after regular and ad-hoc settlements in the month of March 2021 is Rs 58,852 crore for CGST and Rs 60,559 crore for the SGST.
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GST Collections Crossed Rs 1 Lakh Crore Mark For Fifth Month In A Row
GST collections, which directly reflect the state of economic activity, had plummeted to a record low of Rs 32,172 crore in April 2020, after the government imposed a nationwide lockdown to curb the spread of coronavirus
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Assam Economy To Be Revived By December Quarter: Himanta Biswa Sarma
Sarma further added that the state government will come out with a special compensation package to assist those affected by the COVID-19 induced lockdown by the end of this year.
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Will Pay GST Arrears Despite Losses Due To "Act Of God": Centre To States
The centre in a letter to the states has promised it would clear their goods and services tax (GST) dues despite the massive shortfall in GST cess collection amid the coronavirus pandemic, a situation that has been described as "an act of God" by Finance Minister Nirmala Sitharaman. The government in the letter said it wants to stay clear of "avoid...
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Covid "Act Of God", We May See Economy Contract: Nirmala Sitharaman
The coronavirus pandemic has hurt goods and services (GST) collection and the shortfall is Rs 2.35 lakh crore for fiscal 2021, the government said on Thursday. Finance Minister Nirmala Sitharaman, after a meeting of the decision-making body for fixing GST policies, said the coronavirus pandemic was "an act of God" and an unforeseen factor that affe...
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GST Council Meeting: No Revision On GST Rate For Two-Wheelers
The 41st GST or Goods and Services Tax Council meeting was held today, chaired by Finance Minister, Nirmala Sitharaman. There was no discussion on revising GST rates for two-wheelers and therefore, the current rate of 28 per cent is still applicable.
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Coronavirus Pandemic: SIAM Welcomes Finance Minister's New Announcements For Relaxation Of Norms
The Society of Indian Automobile Manufacturers (SIAM) has welcomed the Finance Ministry's decision in the wake of the COVID-19 pandemic. Earlier today, Finance Minister Nirmala Sitharaman announced a range of steps for the extension of statutory and regulatory compliances in order to stabilise the Indian economy. The central government has formed a...
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Offshore Online Gaming Companies in India Mandated to Register Their Business
The Indian government has mandated offshore online gaming companies operating in the country to register the business locally or appoint a representative to pay tax on funds collected from customers. The move to tax online gaming companies has shocked the nascent $1.5 billion (nearly Rs. 12,430 crore) industry, which is backed by global investors.
-
Government Clears Entire GST Compensation Dues To States
Government has cleared the entire Goods and Services Tax (GST) compensation payable till date by releasing Rs 86,912 crore to states
-
HDFC Bank Starts Online Customs Duty Payment Facility For Customers
HDFC Bank is the second largest agency bank to the government for collections of direct taxes, and for GST payments.
-
Government Collects Second Highest GST Revenue Since Inception In November
GST revenue in November marked second consecutive month of revenue collection above Rs 1.3 lakh crore.
-
GST Collections Jump 30% To Rs 1.12 Lakh Crore In August
In August government settled Rs 23,043 crore to CGST and Rs 19,139 crore to SGST from IGST as regular settlement.
-
GST Collection Declines In May; Holds Above Rs 1 Lakh Crore-Mark For 8th Month In A Row
According to the Ministry of Finance, the gross GST revenue in May 2021 is 65 per cent higher than the GST revenues in the corresponding month last year
-
At Over Rs 1.41 Lakh Crore, GST Collection In April Sets All-Time High Record
According to the Ministry of Finance, the GST revenue in April 2021, is the highest ever since the introduction of the GST system, surpassing the collections made in March 2021
-
Net Indirect Tax Collections For 2020-21 Up 12%
The provisional figures released by the Ministry of Finance on Tuesday, further indicated that the net indirect tax collection for 2020-21 showed that 108 per cent of the Revised Estimates (RE) of indirect taxes for that fiscal have been achieved.
-
GST Collections Hit Record High Of Rs 1.24 Lakh Crore In March
The total revenue of Centre and the States after regular and ad-hoc settlements in the month of March 2021 is Rs 58,852 crore for CGST and Rs 60,559 crore for the SGST.
-
GST Collections Crossed Rs 1 Lakh Crore Mark For Fifth Month In A Row
GST collections, which directly reflect the state of economic activity, had plummeted to a record low of Rs 32,172 crore in April 2020, after the government imposed a nationwide lockdown to curb the spread of coronavirus
-
Assam Economy To Be Revived By December Quarter: Himanta Biswa Sarma
Sarma further added that the state government will come out with a special compensation package to assist those affected by the COVID-19 induced lockdown by the end of this year.
-
Will Pay GST Arrears Despite Losses Due To "Act Of God": Centre To States
The centre in a letter to the states has promised it would clear their goods and services tax (GST) dues despite the massive shortfall in GST cess collection amid the coronavirus pandemic, a situation that has been described as "an act of God" by Finance Minister Nirmala Sitharaman. The government in the letter said it wants to stay clear of "avoid...
-
Covid "Act Of God", We May See Economy Contract: Nirmala Sitharaman
The coronavirus pandemic has hurt goods and services (GST) collection and the shortfall is Rs 2.35 lakh crore for fiscal 2021, the government said on Thursday. Finance Minister Nirmala Sitharaman, after a meeting of the decision-making body for fixing GST policies, said the coronavirus pandemic was "an act of God" and an unforeseen factor that affe...
-
GST Council Meeting: No Revision On GST Rate For Two-Wheelers
The 41st GST or Goods and Services Tax Council meeting was held today, chaired by Finance Minister, Nirmala Sitharaman. There was no discussion on revising GST rates for two-wheelers and therefore, the current rate of 28 per cent is still applicable.
-
Coronavirus Pandemic: SIAM Welcomes Finance Minister's New Announcements For Relaxation Of Norms
The Society of Indian Automobile Manufacturers (SIAM) has welcomed the Finance Ministry's decision in the wake of the COVID-19 pandemic. Earlier today, Finance Minister Nirmala Sitharaman announced a range of steps for the extension of statutory and regulatory compliances in order to stabilise the Indian economy. The central government has formed a...
