Further, the meeting of the Council, chaired by the Union Finance Minister Nirmala Sitharaman and comprising state counterparts, will also clear levying the highest tax of 28 per cent on online games, casinos and horse racing, besides, measures to curb tax evasion, especially devising ways to tackle high-risk taxpayers in GST.
Even municipal and other statutory entities that receive tax exemption on different services they provide must pay GST on medical health insurance premiums. The Telangana AAR decision came in response to a request by M/s. Hyderabad Metropolitan Water Supply and Sewerage Board. The AAR determined that services provided by a municipality are eligible for GST exemption under Article 243W.
The CBIC in a notification said that late fee shall be waived from May 1 to June 30, 2022, for delay in filing GSTR-4 for 2021-22 fiscal. GSTR-4 is filed annually by the taxpayers registered under the composition scheme. GST composition scheme can be opted by any traders whose turnover is less than Rs 1.5 crore.
Top cryptocurrency exchange Coinbase quit India activities attributable to the "casual strain" from the Reserve Bank of India (RBI) The goods and services tax (GST) council is reportedly mulling a 28 percent tax on cryptocurrencies The 28 percent GST will be in addition to the 30 percent income tax on earnings from crypto-asset transactions