GST Authority Imposes Rs 36,844 Fine On LIC

Life Insurance Corporation on Wednesday said the GST Authority has imposed a fine of Rs 36,844 on LIC for lower payment of taxes.

National Cinema Day is back with Rs. 99 tickets, and select online ticketing sites have begun bookings for the occasion. At the time of writing, only major Bollywood movies like Jawan and Mission Raniganj are providing the option to book tickets for October 13, though this should be further expanded. Due to state regulations, theatres in select South Indian regions li...

The GST Council on Saturday clarified that guarantees provided by corporates to their subsidiaries will attract an 18 per cent GST, while no tax will be levied if a personal guarantee is given by a director to the company.

As states like Delhi and Goa raised the issue of tax demand on online gaming companies and casinos retrospectively, Revenue Secretary Sanjay Malhotra on Saturday reiterated that 28 per cent GST was levied on online gaming and casinos even before.

The GST Council on Saturday decided to levy a lower 5 per cent tax on millet-based flour when sold in pre-packaged and labelled form, Finance Minister Nirmala Sitharaman said.

Delhi Finance Minister Atishi today said tax evasion notices worth Rs 1.5-lakh crore to online gaming companies will finish them and vowed to seek their withdrawal at the GST Council meeting during the day.

The Federation of Indian Fantasy Sports (FIFS) on Wednesday urged the government not to impose a 28% GST on online gaming with retrospective effect, as it is discouraging investors from putting their money into this booming industry.

Gross GST collection rose 10 per cent to over Rs 1.62 lakh crore in September, crossing the Rs 1.6 lakh crore mark for the fourth time during current financial year.

The Central Board of Indirect Taxes and Customs (CBIC) Chairman, Sanjay Agarwal, has announced that India is prepared to implement a 28 per cent Goods and Services Tax (GST) rate on online gaming starting from October 1.

BJP leader Pankaja Munde on Tuesday confirmed that a cooperative sugar mill controlled by her family has received a notice from the Goods & Services Tax (GST) department.

Fantasy sports platform Dream11 has filed a petition in the Bombay High Court challenging the levy of 28 per cent GST retrospectively on bets placed on its platform.

The former BharatPe founder questioned the thought process of people running the tax department and said that their goal is just to ''harass businessmen.''

Casino operator Delta Corp said on Friday it has received a notice from the government to pay a tax of Rs 11,140 crore along with interest and penalty for the period July 2017 to March 2022.

The proposed women's reservation bill, which has been cleared by the cabinet, triggered a huge war of words between Congress chief Mallikarjun Kharge and Union minister Nirmala Sitharaman today.