Bombay HC urges govt to regulate online ticket sales to curb malpractice, ET LegalWorld
The Bombay High Court has dismissed a petition filed by advocate Amit Vyas, which raised concerns about alleged malpractices in ticket sales for British band Coldplay’s upcoming concert in Navi Mumbai. The court noted the significance of the issues but stated that addressing them falls within the purview of the Maharashtra government. High Court’s stance […]
SC stays GST show-cause notices to online gaming sector in temporary relief, ET LegalWorld
The Supreme Court on Friday stayed the Goods and Services Tax (GST) show-cause notices, issued to several online gaming companies to the tune of Rs 1.12 lakh crore, providing temporary relief to the sector. The apex court stayed all further proceedings with respect to all show-cause notices, issued by the Directorate General of GST Intelligence […]
SC stays GST notices worth over Rs 1 lakh crore against online gaming firms for tax fraud, ET LegalWorld
The Supreme Court on Friday stayed showcause notices issued by GST authorities worth over Rs 1 lakh crore to online gaming companies and casinos over alleged tax evasion. A bench of Justices J B Pardiwala and R Mahadevan said the matters required hearing and all proceedings against the gaming companies should remain stayed in the […]
Supreme Court orders SBI to refund Rs 94,000 lost in an online scam to its customer, ET LegalWorld
Who knew returning a blazer worth Rs 4000 purchased from Louis Philippe, a division owned by Aditya Birla Fashion could result in a cyber fraud where the entire bank account is cleaned out. This is exactly what happened to a man from Assam. All he ever wanted was to return the purchased blazer and get […]
India tax panel may consider lowering GST on online food delivery fees, report says, ET LegalWorld
India’s GST Council, chaired by the federal finance minister, may lower the tax on food delivery charges by e-commerce operators to 5% from 18%, CNBC-TV18 reported, citing sources. The potential tax cut, which could take effect from Jan. 1, 2022, would not allow food delivery platforms such as Zomato and Swiggy to claim tax credits. […]
DGGI identifies 642 online gaming cos for investigation: MoS Finance, ET LegalWorld
As many as 642 offshore entities offering online money gaming have been identified till date for investigation on potential tax evasion, by the Directorate General of GST Intelligence (DGGI), Parliament was informed on Monday. The offshore online gaming entities which have been found non-responsive and non-cooperative during the investigation, have been informed to the Ministry […]
Tax panel may consider lowering GST on online food delivery fees, report says, ET LegalWorld
GST Council, chaired by the federal finance minister, may lower the tax on food delivery charges by e-commerce operators to 5% from 18%, CNBC-TV18 reported, citing sources. The potential tax cut, which could take effect from Jan. 1, 2025, would not allow food delivery platforms such as Zomato and Swiggy to claim tax credits. This […]
Sebi warns investors against unregistered online platforms offering unlisted debt securities, ET LegalWorld
Market watchdog Securities and Exchange Board of India (Sebi) has issued a stern warning to investors about unregistered online platforms offering unlisted debt securities. While highlighting the risks associated with such platforms, the regulator has cautioned investors against using these platforms. It said that unregistered online platforms operate outside Sebi’s regulatory framework and lack essential […]
Sebi proposes online monitoring framework for stock brokers’ system audits, ET LegalWorld
Capital markets regulator Sebi on Tuesday proposed an online monitoring and supervision framework for system audits of stock brokers aimed to enhance the quality and accountability of audits. This online monitoring mechanism will enhance the reach of the exchanges to identify the deficiencies in the audit process before the completion of an audit and also […]
Sebi tackles tech glitches with new online monitoring mechanism for system audits of brokers, ET LegalWorld
Capital market regulator Sebi has proposed an online monitoring mechanism for system audits of stock brokers to cut down on technical glitches. In a consultation paper released on Tuesday for public comments, Sebi said it aims to address gaps in the current audit processes, including poor quality, lack of physical site visits by auditors, and […]