GST

GST laws to levy 28% GST on online gaming, casinos & horse race clubs

August 10, 2023
Taxchanakya
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The GST Council in its 51st meeting on August 2 had recommended amendments to the Schedule III of the CGST Act, 2017, to provide clarity on the taxation of supplies in casinos, horse racing and online gaming. The amendments to the Central GST (CGST) and Integrated GST (IGST) acts, which…

15 Jul 23

Transfer of Business in case of Death of Proprietor under GST

Transfer or succession of business is a normal business phenomenon which has been taken care by the various taxation laws also. Transfer or succession of business may take place in various cases such as merger, demerger, amalgamation or death of proprietor etc. In this article, we have discussed the provisions…

15 Jul 23

Legal Heirs of Sole Proprietor Gets Input Tax Credit under GST on Death of Sole Proprietor

When a business is transferred to another person for any reason—including the death of the proprietor—the transferee or successor, as the case may be, shall be required to be registered with effect from the date of such transfer or succession. The applicant must specify “death of single owner” as the cause…

15 Jul 23

Assessment under GST

Goods and Services Tax (GST) has revolutionized the way tax is collected in India. One of the key features of GST is its self-assessment system. This means that taxpayers are required to self-assess their tax liability and file their returns accordingly. However, the government has the power to verify the…