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The gaming industry hopes the GST council will offer relief by scrapping the retrospective part of the tax on online games. It also hopes for a review of the tax rate and the calculation methods. Moneycontrol explains.
GTPL's legal battle has emerged as a crucial juncture, with the company challenging the Directorate General of Goods and Services Tax Intelligence's demands.
All iron and steel items are subject to 18% GST. The Meerut unit of DGGI had received intelligence that several TMT bar makers were filing documents on behalf of non-existent companies naming them as suppliers and claiming input tax credit. The official quoted above said these companies outsourced the transportation of non-duty paid goods from the factory gate to many dealers and recipients, without paying any duty to the authorities.
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.
DGGI is probing potential tax evasion of ₹850 crore by large coaching centres in 2020-21 and 2021-22. Officials suggest misdeclaration of enrolments and non-payment of tax after collection. The investigation, initiated in January 2023, targets numerous coaching centres across India. Around 145 large and mid-sized centres are under scrutiny, including those for medical, engineering, and entrance exams like IELTS and GRE.