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NEW DELHI: The Finance Ministry will likely issue a clarification soon on whether the amendment to GST rules pertaining to online gaming, casinos, and horse racing would be implemented retrospectively or prospectively, as per highly placed sources. Though Finance Minister Nirmala Sitharman recently said in parliament that the new valuation rules would be applicable prospectively, experts say that more clarity needs to be given as the companies are getting tax demand notices for the previous years based on the recent amendment. The GST authorities have issued show cause notices worth over R1.12 lakh crore to online gaming companies for tax evasion so far.

New Delhi: Goods and Services Tax (GST) authorities have dropped a plan to block generation of goods transportation permits, or e-way bills, from 1 March for companies that fail to produce 'e-invoices' for their wholesale transactions through designated portals. These portals aid in more accurate data capturing across various tax forms using a standardized invoice.

In a relief for the Competition Commission of India (CCI), GST authorities have dropped a ₹7.08 crore service tax demand on the competition watchdog, ruling that the regulator is not liable to take service tax registration and hence no demand for service tax arises. This demand of ₹7.08 crore includes service tax of ₹6.78 crore, education cess of ₹ 2.57 lakh, secondary and higher secondary education cess of ₹1.28 lakh, Swach Bharat cess of ₹15.52 lakh, and Krishi Kalyan cess of ₹9.53 lakh. This order came from a CGST Commissioner audit on an appeal filed by the CCI against the show cause notice issued by the Directorate General of GST Intelligence (DGGI), Delhi Zone.

The Gujarat Authority of Advance Ruling (AAR) has ruled that roof-top solar systems with installation and commissioning constitute plant and machinery. The bench of Amit Kumar Mishra and Riddhesh Raval has observed that applicants are eligible to avail of ITC on rooftop solar systems with installation and commissioning under the GST Act. The applicant is engaged in the business of manufacturing and selling welding wires. The applicant supplies its products and services after discharging 8% GST. The applicant has entered into an interconnection agreement with the power distribution licensee (Madhya Gujarat Vij Company Ltd.) for the captive use of power generated by rooftop solar systems. The applicant has recently installed a rooftop solar system with a capacity of 440 KW (AC) on the factory roof for power generation. The applicant stated that the generated power is solely and captively used for manufacturing welding wires within the same premises.