Seen as a concerning development, tax evasion under the Goods and Services Tax (GST) regime has surged to a staggering Rs 2.01 lakh crore for the financial year 2023-24, nearly doubling from Rs 1.

Goods and Services Tax evasion surges to Rs 2.01 lakh crore in FY24

The Indian automotive sector has achieved a significant milestone, surpassing the INR 20 lakh crore mark in revenue for the fiscal year 2024, as announced by Vinod Aggarwal, President of the Society of Indian Automobile Manufacturers (SIAM), on Monday, September 9, 2024.

Auto sector contributes nearly 15 per cent to total GST, says SIAM president

The 54th Goods and Services Tax Council meeting, chaired by Finance Minister Nirmala Sitharaman, concluded on Monday in New Delhi. Key agenda items included reducing Goods and Services Tax (GST) on health insurance premiums, taxing online payments above Rs 2,000, and addressing Infosys' tax notice of Rs 32,400 crore.

GST council meeting key takeaways: Council reduces rate on cancer drugs to 5% from 12% and more

The Goods and Services Tax (GST) Council is gearing up for a crucial meeting where it will deliberate on the taxation of insurance premiums and online gaming, two sectors that have been under scrutiny for their tax implications.

GST council to deliberate on taxation of insurance premium and online gaming

The central government on Monday (Sep 9) postponed the announcement regarding a potential reduction in the Goods and Services Tax (GST) on health insurance premiums.

India: GST on health insurance premiums to be reduced? Centre moves one step closer

Malaysia is looking at reintroducing a broad-based consumption tax, possibly, the goods and services tax as an alternative to cut down on popular gasoline subsidies. This move aims to strengthen the country's finances.

Malaysia eyes GST to boost finances

A ₹54 crore ($540mn) GST fraud has been unearthed in the national capital. The scam involved a rogue tax officer, three lawyers, and several accomplices who defrauded the GST Department.

GST heist: Tax officer, lawyers defraud Delhi govt of $540mn

Budget 2024-25: Ahead of presenting the national budget in the parliament, Union Finance Minister Nirmala Sitharaman chaired pre-budget consultations with the finance ministers of states and union territories to build consensus on matters of contention.

Nirmala Sitharaman gets good news for hostel goers, railway services: Top points of GST council meet

India collected a record 2.10 trillion rupees ($25.15 billion) as gross goods and services tax (GST) in April, a rise of 12.4 per cent from the same period last year, the government said in a statement on Wednesday.

India collects record 2.10 trillion rupees as goods and services tax in April

India's gross Goods and Services Tax (GST) collection for March witnessed a strong boom of 11.5 per cent year-on-year (YoY), reaching ₹1.78 trillion ($21.35 billion), in line with a government declaration released on Monday.

India's GST collection surges 11.5 pc YoY to $21.35 bn in March

Indian expects to collect up to 140 billion rupees ($1.7 billion) in goods and services tax (GST) next financial year by taxing online gambling companies, Revenue Secretary Sanjay Malhotra told Reuters on Saturday.

2023: India imposes 28% GST on online gaming

A promising forecast for the gaming industry as it gears up for a significant rebound in 2024. Research firm Newzoo reports a projected 2.8% surge, & a market value of $189.3 billion. This resurgence follows a modest 0.6% growth in the previous year, marking the end of a post-COVID decline that led to layoffs in the industry.

Consoles lead gaming resurgence

There is an old story about Mullah Nasruddin, the main character in the Muslim world's folktales full of humour and wisdom, that comes to mind as we hear about Zomato and Swiggy being chased by the taxman.

As taxman tightens GST noose, Swiggy and Zomato need to learn the power of simplicity

GST authorities have served show cause notices totaling Rs1 trillion to online gaming companies for alleged tax evasion thus far, a senior official was quoted as saying by news agency PTI on Wednesday.

India: Tax crackdown on online gaming companies, GST authorities issue notices

The GST Council, during its recent meeting chaired by Finance Minister Nirmala Sitharaman, made a significant recommendation regarding the tax rates for flour containing at least 70 per cent millets.

No GST on flour with 70% millets if sold in loose form: FM Nirmala Sitharaman

Online gaming companies will impose a 28% GST on the entire amount of bets starting on October 1. Additionally, offshore platforms operating in India will need to register for GST.

India | 28% GST on online gaming: Gaming platforms to be GST registered from October 1

India: Online gaming companies to collect 28% on full bet value

As the extraordinary session of Parliament begins today, Prime Minister Narendra Modi is addressing the Lok Sabha. The session is being held at the old Parliament building, but MPs will move in on September 19, the second day of the session. At an all-party conference organised by the government on the eve of the special session, Parliamentary Affairs Minister Pralhad Joshi notified floor leaders of political parties about the action.

Parliament Special Session LIVE: PM Modi says, 'from GST to Article 370, Parliament has seen it all'

Indian cabinet approved a bill to amend the Central GST Tax. It implemented a 28% GST, or Goods and Services Act, on online gaming, casinos, and horse racing. But there's an ongoing no-trust vote debate in parliament. And the monsoon session ends on Friday, 11th August.

28% GST on online gaming:  Will India bring an ordinance?

Online gaming company Mobile Premier League (MPL) has decided to slash 350 jobs after India decided to increase Goods and Service Tax (GST) on gamers and gaming companies to 28 per cent, Mint reported.

Mobile Premier League to slash 350 jobs after 28 pc GST burden 

The GST Council on Wednesday decided to levy a 28 per cent GST on online gaming and casinos on the face value of bets at entry level, even though three states -- Delhi, Goa and Sikkim -- expressed dissent.

India: 28 per cent GST on online gaming to stay; will be reviewed after 6 months of roll-out

the Indian government on Tuesday decided to impose 28 goods and services tax on online Indian gaming companies as well as in horse racing and also for casinos. After the announcement, the shares of the Indian gaming companies fell pretty drastically.

Indian gaming companies under tax radar

The biggest festival season of Diwali is over and the data has shown Indian consumers were grabbing up everything from cars, houses, TV sets to travel and jewelry.

WION Business News | India's monthly indirect tax collection witnessed jump post Diwali season

In what has turned out to be the biggest-ever show cause notice served by it, India's Directorate General of GST Intelligence (DGGI) has asked a gaming company why it has failed to pay Goods and Services Tax (GST) amounting to USD 2.

India's tax intel wing slaps $2.58bn notice on gaming company that runs online rummy

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