INSANE: The gst council | Vintage Vibes

Govt withdraws key bank tax benefit on gold, silver and platinum imports

The Indian government did not extend a tax benefit for banks on imports of gold and other precious metals and they have been paying a 3% integrated goods and services tax

The Economic Times · 10h ago

Good news for employees: Input Tax Credit on group health and life insurance allowed; Know how it help employees

Now GST input tax credit to emoyers on group insurance; this can mean more life and health insurance coverage for employees; Know how it helps. The reason for this is now employer's cost of buying insurance for its employees can reduce by claiming ITC.

The Economic Times · Oct 8

No rate cuts, but big GST relief: 8 reforms on refunds, ITC, registration and enforcement | Explained

The GST Council has approved a sweeping process overhaul, easing registration, speeding up refunds, widening input tax credit and reducing physical checks on goods in transit. The reforms also remove GST arrest powers, raise the prosecution threshold, simplify filing for smaller taxpayers and expand export benefits, while leaving tax rates…

The Economic Times · Oct 8

India's GST Revolution: How India’s biggest indirect tax reform changed its economy and its way of doing business

India's GST Revolution: GST has transformed India's indirect taxation system, eliminating many previous levies to streamline compliance and taxation. Following its introduction in 2017, businesses adjusted to new frameworks and updated regulations. Key changes included the phased introduction of e-invoicing and the removal of border checkposts enhancing logistics.

The Economic Times · Oct 7

GST Council to consider 17-day refund timeline, faster registrations

The GST Council is set to consider measures to speed up refunds and GST registrations, with a proposed 17-day refund timeline and greater automation for registrations. It may also ease compliance for small businesses selling across states through e-commerce platforms, simplify registration cancellations and expand input tax credit eligibility.

The Economic Times · Oct 7

Proposal to scrap GST officers' arrest powers based on 'trust'; states likely to back move: Sources

The 57th meeting of the GST Council, to be chaired by Union Finance Minister Nirmala Sitharaman and comprising state finance ministers, will on October 8 deliberate significant changes to the GST enforcement framework, including removing the arrest powers of GST officers.

The Economic Times · Oct 6

57th GST Council meeting rescheduled for October 8 from October 7; to be held at Bharat Mandapam in New Delhi

The 57th meeting of the Goods and Services Tax Council has been rescheduled to October 8, starting at 11 am. The meeting's location is the Summit Room, Bharat Mandapam, in New Delhi. An Office Memorandum cited unavoidable circumstances for the date change without providing further details. Members of the Council…

The Economic Times · Oct 5

GST Council likely to align export definition with forex earnings, clarify on overseas branch services

The GST Council is expected to review a proposal to redefine the definition of export for services. This proposal aims to remove ambiguities related to services provided through overseas branches of Indian companies. The changes are anticipated to enhance clarity for exporters and reduce litigation regarding service supply locations. Additionally,…

The Economic Times · Oct 5

GST shake-up: Council may rejig tax officers' panels

The GST Council is likely to recast its tax officers' committees to make them leaner as the system matures. It is proposed to reduce the current structure into three consolidated bodies, including a standing committee. The new arrangement is based on political ownership and transparency in handling proposals from trade…

The Economic Times · Oct 5

GST enforcement may shift from 'arrest' to 'detect, recover and prosecute serious frauds'

The GST Council is likely to consider major enforcement reforms on October 7 that could remove GST officers’ power to directly arrest alleged tax evaders and require greater judicial oversight. The proposed changes would shift routine disputes towards recovery, interest and penalties, while reserving criminal prosecution for serious, deliberate fraud.

The Economic Times · Oct 5