Online Gaming To Attract Investment Once Tax Policy Finalised: Minister

Finance Minister Nirmala Sitharaman on Tuesday said the GST Council is deliberating on taxation policy for online gaming and exuded confidence that the sector will attract investment once it is finalised.

Prime Minister Narendra Modi called GST revenue collection for April 2023 being highest ever at Rs 1.87 lakh crore "great news for the Indian economy."

The Finance Ministry is considering classifying online gaming into categories of skill and chance, and levying a differential rate of GST, an official said. Currently, online gaming attracts 18 percent GST. The tax is levied on gross gaming revenue, which is the fees charged by online gaming portals.

The Delhi High Court has upheld the centre's decision to levy GST on the services offered by an auto-rickshaw or other non-air-conditioned carriages through electronic commerce operators like Uber.

A superintendent with the Central Goods and Services Tax (GST) department and two others were arrested in Surat in Gujarat for allegedly extorting Rs 12 lakh from a shopkeeper, a police official said on Friday.

Punjab Chief Minister Bhagwant Mann Friday said the state has cleared its entire electricity subsidy bill of Rs 20,200 crore for the last financial year and has witnessed a jump in excise and GST revenue.

Mr Tharoor also shared images of the letter he sent to the Finance Minister.

Asserting that the Centre has been depriving West Bengal of its share of the Goods and Service Tax collected from the state, Chief Minister Mamata Banerjee on Tuesday said that the decision to support the passage of the GST Bill was wrong.

Lok Sabha on Friday cleared changes in the Finance Bill to pave the way for setting up of an appellate tribunal for resolution of disputes under GST.

The Press Information Bureau of India analysed the savings on a restaurant bill in the pre and post-GST era.

Lok Sabha today passed the Finance Bill 2023 with 64 official amendments, including the one that seeks withdrawal of long-term tax benefits on certain categories of debt mutual funds and another for setting up the GST Appelate Tribunal.

In a bizarre case of cyber fraud, a group of fraudsters allegedly procured PAN details of several Bollywood actors and cricketers from their GST Identification Numbers which are available online, and got credit cards issued in their names.

The government will clear the entire goods and services tax, or GST, compensation dues of Rs 16,982 crore from its own pocket today, Finance Minister Nirmala Sitharaman said after a meeting of the council that sets GST rates.

Petroleum products can be part of GST and what is needed is the nod from the council members, said Union finance minister Nirmala Sitharaman on Wednesday.