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India scraps 2% equalisation levy on foreign digital services

24 July 2024 in

digital services

Budget confirms removal of contentious tax on non-resident providers of digital services The latest Indian budget has confirmed the scrapping of the 2% equalisation levy on digital companies, online education-providing firms, and software-as-a-service (SaaS) providers without a permanent physical presence in India. This is in

India GST rate consolidation talks start

23 June 2024 in

Goods and Services Tax

Talks begin August on consolidation of 12% and 5% Goods and Services Tax rates Following the ruling BJP party failing to secure a majority in this months national general election, India’s GST Committee is to revisit the consolidation of the country’s five rates to four

India B2B e-invoicing update

12 January 2024 in

e-invoice

Delayed: B2B e-invoicing with e-way bill issuance requirement On 11 January 2024, the National Informatics Centre confirmed postponing plans to require e-invoicing-mandated taxpayers to generate e-way bills with e-invoice details. The plan was to start the obligation from 1 March 2024. E-way with e-invoice checks

India businesses deluged by AI-generated GST notices

12 December 2023 in

AI adopted on more interpretative elements of GST law sparks huge uplift in Show-Cause Notices Indian Goods & Services Tax registered businesses from the shipping, gaming, insurance and airline sectors have been flagging to the Ministry of Finance a sudden rise in Show-Cause Notices (SCN).

India levies 28% GST online gaming and casinos Oct 2023

1 October 2023 in

India

1 October 2023 top rate GST for online gaming, casinos and horse racing The Indian GST Council, which oversees the national Goods and Services Tax, has subjected online gaming, casinos and horse racing to the top rate 28% GST from 1 October 2023. The previous

India B2B e-invoicing: 7-day e-invoice deadline delay to 1 August 2023

7 April 2023 in

e-invoice

GST Network delays 7-day e-invoice upload deadline from May to August 2023 The GST Network (GSTN) has postponed by three months a new seven day deadline for e-invoice uploads o the Invoice Registration Portal (IRP). Instead of 1 May, this obligation will now come into

India B2B e-invoicing threshold cut to ₹5 Jan 2023 refuted

28 December 2022 in

e-invoice

Jan 2023 published lowering of e-invoicing threshold will not go ahead; threshold remains ₹10 per annum The Indian Central Board of Indirect Taxes and Customs (CBIC) has refuted reports of a cut to the annual sales threshold for clearing e-invoices to ₹5 per annum for 1

India B2B e-invoicing threshold drops to ₹5 January 2023

17 October 2022 in

e-invoice

Latest threshold drop brings thousands more taxpayers into electronic invoicing requirements From 1 January 2023, the next round of Indian taxpayers obliged to digitally authenticate sales invoices with the GST Invoice Registration Portal operated by the GST Network. The annual sales threshold for clearing e-invoices

Indian extension of GST obligations

7 October 2022 in

CGST

More time allowed for 2021-22 input and credit allowances A number of delays have been provided for by the Central Board of Indirect Taxes of India. These are extensions on claims for certain credits on Goods and Services Tax for the 2021-22 year. They include:

India to cut e-invoice threshold to ₹10 crore from October 2022

1 August 2022 in

e-invoice

Further drop in annual sales threshold for India GST payers to adopt electronic invoicing The government has approved a new cut in the annual sales threshold to ₹10 crore (approx.$120 million per annum) for taxpayers mandated to adopt Indian e-invoicing. This will come into effect

Tag: India