Gst Update News Today

Indias group of ministers has agreed on a 28% GST on online gaming, horse racing and casinos, but could not reach a consensus on the taxability of online games. Some states suggested a 18% tax on platform fees while others suggested a 28% tax on GGR or commission on all three supplies. The GST Council is expected to take a final view on the taxation rate and taxability of the three activities on July 11.

The Centre on Friday issued a clarification regarding GST on house rent, noting renting of a residential unit is taxable only when it is given to a business entity. �� GST on Rent for Business Entities Only & Not When Rented to a Private Person for Personal Use, Government Clarifies.

Government relaxes GST compliance May 02, 2021 The Finance Ministry has relaxed compliance norms for Goods & Services Tax (GST) assesses. Accordingly, there will be no late fees for filing March/April 3B up to 15 days and 30 days from original due date for taxpayer with turnover more than five crore and upto five crore, respectively. For quarter ending March 31, there will be no late fees if 3B filed within 30 days from original due date. Form 3B shows how much tax has been paid in cash and...