The GST Fitment Committee has recommended a Group of Ministers (GoM) study proposal to reduce GST on fertilizers from 5%. The committee warns against blanket GST exemption for fertilizers, chemicals, and nutrients due to duty inversion. The GST Council may exempt compensation cess on aerated and energy drinks at unit-run canteens. Sectors paying GST at lower rates than authorities may receive relief from retro action. The Fitment Committee proposes a study on GST rates for tobacco products. The GST Council may introduce a sunset clause for anti-profiteering cases and set monetary limits for cases taken up by GSTAT, High Court, and Supreme Court. A new form, GSTR-1A, is being considered for amendment to provide additional details to Form GSTR-01. The GST Council is expected to address retrospective taxation for online gaming companies by amending the CGST Act and may reduce the TCS rate collected by e-commerce operators from 1% to 0.5%.
#GST Council considers axing retro tax demands on online gaming firms with proposed CGST Act amendment 🎮📜 Know more about it here⤵️ https://t.co/BS3d8D87TG #Gaming #CGST #amendment
GST Council may quash retro tax demands on online gaming companies https://t.co/YmXziPUrle via @moneycontrolcom
Delta Corp stock up 14% on retrospective GST respite hope. Check key levels @rex_cano #MarketsWithBS #GST #DeltaCorp #Markets #sharemarket #stockmarket https://t.co/TnxDesF8Cb
Exclusive Sources Say | GST fitment committee recommends GoM on rate rationalisation to cut GST on fertiliser @joinsumit https://t.co/kUbofT3m3b
The GST Council is expected to take up a key amendment that has the potential to resolve the vexatious issue of retrospective taxation for online gaming companies. To know more, read here @Shrimichoudhary #GST #tax #onlinegaming #GSTCouncil https://t.co/kRbOra6tTm
#CNBCTV18Exclusive | #GST council likely to reduce #TCS rate collected by e-commerce operators for supplies made via them >>Council likely to consider reducing the TCS rate from present 1% to 0.5% -sources to @TimsyJaipuria Here's more 👇 https://t.co/yre4gapOQo
#CNBCTV18Exclusive | GST council likely to consider including a new form GSTR-1A. New form is considered for amendment &declaring additional details to Form GSTR-01, sources to @TimsyJaipuria https://t.co/mhz2W8rg9B
#CNBCTV18Exclusive | GST Council Likely To Set Monetary Limits For Cases To Be Taken Up By GSTAT, High Court & Supreme Court, sources to @TimsyJaipuria https://t.co/3il6L0IU76
#CNBCTV18Exclusive | #GST Council may consider to add a sunset clause for anti-profiteering cases, sources to @TimsyJaipuria https://t.co/awvPBQx4fW
#NewsFlash | Fitment Committee proposes GoM on rate rationalisation study GST on tobacco products (cigs, bidis, smokeless tobacco products), sources to @TimsyJaipuria https://t.co/nZYbNeWDNn
#CNBCTV18Exclusive | GSTC may consider exempting compensation cess on aerated & energy drinks sold at unit-run canteens, sources to @TimsyJaipuria https://t.co/MzNHZ4jal6
#CNBCTV18Exclusive | Sectors which paid GST At lower rate vs that applied by GST authorities may get relief from retro action, sources to @TimsyJaipuria https://t.co/4OnoKsLaHV
#CNBCTV18Exclusive | #GST Fitment Committee recommends GoM on rate rationalisation study proposal to cut GST On fertilizer from 5% Fitment Committee View: Blanket GST exemption for fertilizers, chemicals & nutrients will cause duty inversion Sources to @TimsyJaipuria Here's… https://t.co/a4y5t8gsbs