Minister of State for Finance Chandrima Bhattacharya said that West Bengal is one of the states which has advocated taxation of such online gaming and similar activities at the highest rate.
Goods and Services Tax (GST) collections have jumped 15 per cent to over Rs 1.67 lakh crore in November, the Finance Ministry informed on Friday.
The operators used to lure unsuspecting individuals with petty cash or promises of employment and fraudulently obtained their PAN, Aadhaar, and other identification documents. Using them, they incorporated several fake firms and obtained GST registrations.
In October 2023, India's Goods and Services Tax (GST) collection reached an impressive ₹1.72 lakh crore, marking the second-highest collection ever recorded, with a remarkable year-on-year growth of 13%.
The Central Board of Indirect Taxes and Customs (CBIC) has said that since Gangajal is part of puja items used by households, such things are exempted from the Goods and Services Tax (GST).
GST Council meeting: Earlier the Ministry of Finance had said that the gross Goods and Services Tax revenue collected in the month of September was Rs 162,712 crore. The monthly revenue is 10 per cent higher than the collection the same month the previous year.
According to the finance ministry, the revenue in September 2023 was 10 per cent higher than the GST revenue of Rs 1.47 lakh crore in the same month last year.
The government has convened a Special Session of Parliament from September 18 to 22. The session began with PM Narendra Modi's address to the Lower House.
Sitharaman introduced the Central Goods and Services Tax (Amendment) Bill, 2023, and The Integrated Goods and Services Tax (Amendment) Bill, 2023 in Lok Sabha amid protests and uproar by the Opposition over the suspension of Congress leader Adhir Ranjan Chowdhury from the House.
So far this year, a total of Rs 12,322.71 crore has been mobilized, which is 11.65 per cent higher as compared to the revenue collected during the year-ago period.
From August 1, 2023, various changes linked to GST, payments system, bank transactions will come into effect that will directly impact the common man.
The panel, headed by the Union finance minister and comprising representatives of all states and UTs, also lowered the service tax levied on food and beverages consumed in cinema halls to 5 per cent.
The government has announced key changes in the existing GST tax slabs of various goods and services after the 50th GST Council meeting chaired by Finance Minister Nirmala Sitharaman. Here's what has become cheaper and costlier.
The GST Council, which held its 50th meeting under the chairmanship of Union Finance Minister Nirmala Sitharaman, decided to remove the distinction of game of skill and chance in case of online gaming.
FM Sitharaman released a short film titled 'GST Council - 50 steps towards a journey' on the occasion of 50th meeting of GST Council in New Delhi.
GST network brought under anti-money laundering law to plug tax evasion.
The Compensation Cess was supposed to end on June 30, 2022, five years after the introduction of the single tax on July 1, 2017, but the Indian government extended it until March 31, 2026.
Over 69,600 GST Identification Numbers (GSTINs) have been chosen for actual confirmation, of which 59,178 have been checked by field officials during the continuous container India unique drive.
Johri further said that the tax authorities are also discussing some more tightening in the GST return filing system to limit the scope of claiming Input Tax Credit (ITC), when taxes have not been paid by suppliers in the supply chain.
Nirmala Sitharaman on GST: Finance Minister added that many common-use items and services have been exempted from GST for the benefit of the people.
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