CBDT notifies amendments in I-T rules for presumptive taxation of non-resident cruise ships, ET LegalWorld
The income tax department has notified amendments in I-T rules to prescribe conditions for applicability of presumptive taxation regime for non-resident cruise ship operators. As a measure to promote investment and employment, the government had in the July Budget, provided a presumptive taxation regime for non-residents, engaged in the business of operation of cruise ships. […]
Simplification to be the focus for taxation in 2025, ET LegalWorld
Simplification of direct and indirect tax policies will be the main focus area for the government in the New Year after beginning the review of the six-decade-old income tax law and rationalisation of the GST rate in 2024. With monthly gross GST collections stabilising at around Rs 1.8 lakh crore and gross direct tax collections […]
GST Council clarifies on popcorn taxation, Legal News, ET LegalWorld
Nirmala Sitharaman chairs 55th GST Council meeting in Jaisalmer GST Council on Saturday agreed to issue a clarification on taxation of popcorn, saying that pre-packed and labelled ready-to-eat snacks will attract a 12 per cent tax while an 18 per cent GST will be levied if it is caramelised. There is no change in the […]
GST Council to deliberate on taxation of insurance premium, report on online gaming, ET LegalWorld
The GST Council on Monday is expected to deliberate on a host of issues, including taxation of insurance premium, GoM’s suggestions on rate rationalisation, and a status report on online gaming, sources said. Sources said the fitment committee, comprising Centre and state tax officials, will present a report on GST levied on life, health and […]
GST Council to discuss status report on online gaming taxation, fake registration in Sep 9 meet, ET LegalWorld
The GST Council in its meeting next week is likely to deliberate upon the status report on taxation of online gaming, in addition to the progress of the drive against fake Goods and Services Tax registration, sources said. The Council will also clear the notifications to give effect to the amendments in GST law, which […]