The Centre has detected goods and services tax (GST) evasion worth Rs 824.14 crore by crypto exchanges, such as Binance, WazirX, CoinDCX, and CoinSwitch Kuber, the Lok Sabha was informed.
CII Eastern Region, today, facilitated an interactive session with Shrawan Kumar, IRS, chief commissioner, CGST & Central Excise Kolkata and Manoj Kumar Kedia, IRS, principal commissioner, CGST & Excise Kolkata, with various industry stakeholders in Kolkata.
The GST Council will hold its next meeting in Rajasthan’s Jaisalmer on December 21, during which it is likely to take a decision on exempting or lowering the GST rate on health and life insurance.
It is the eighth consecutive month when GST collections stayed above the Rs 1.7 lakh crore mark.
The officials from the Kerala Goods and Services Tax (GST) department have seized 104 kg of unaccounted gold valued at around Rs 75 crore in massive raids across gold jewellery-manufacturing units, wholesale outlets and residences in Thrissur district. The raids began on Wednesday and concluded on this morning.
The Central government has clarified to the states that the goods and services tax (GST) on online gaming companies is not being levied retrospectively since some online games involved in betting were already being charged a 28 per cent GST under the law earlier.
Finance Minister Nirmala Sitharaman said that the decision has been taken in order to promote tourism.
During the GST Council meeting, states pointed out that dues being demanded from some firms is much more than their turnover.
The gross GST revenue for September rose 2.2 per cent to Rs 1,62,712 crore from Rs 1,59,069 crore in August.
The amendments to the Integrated GST (IGST) Act make it mandatory for offshore online gaming platforms to take registration in India and pay taxes in accordance with domestic law.
