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Insurance cos plan to file writ petition seeking GST clarity

Insurance players plan to file a writ petition against the tax demand on commission for co-insurance due to the absence of a GST Council meeting. The sector faces a deadline to pay the tax, and the matter is expected to be resolved soon.

Insurance-council , Services-tax , Services-tax-intelligence , Directorate-general , General-insurance-council , Insurance-companies , Gst-clarity , Tax-demand , Commission , Insurance-sector , Double-taxation

tax slabs: Plan afoot to reclassify items for GST clarity in FMCG sector

The Central Board of Indirect Taxes and Customs (CBIC) is planning to prepare a list of products that end up in litigation due to classification issues. The fitment committee will investigate items with minor changes in composition but different tax slabs, creating confusion in tax liability, particularly in the fast-moving consumer goods (FMCG) sector.

Nirmala-sitharaman , Services-tax , Clarity-et-bureau , Central-board , Reclassify-items , Directorate-general , Tax-slabs , Gst-clarity , Fmcg-sector , Classification-issues , Cbic , Central-board-of-indirect-taxes-and-customs

gst: On offer: Govt mulls some relief on levy of GST on vouchers and gift cards

Some vouchers have GST levied on them at the time of purchase, which leads to double taxation when they are used to buy goods or services that also include the tax. The proposed clarification is expected to clear the air on the taxability of vouchers and gift cards, suggesting they should not be taxed at the point of sale.

New-delhi , Delhi , India , Karnataka , Pratik-jain , Bipin-sapra , Appellate-authority-for-advance-rulings , Sales-promotion-pvt-ltd , Karnataka-authority-for-advance-rulings , Karnataka-authority , Advance-rulings , Premier-sales-promotion-pvt