News & Media 24th Jun 2024

Centre, States to be empowered to regularise short/non-levy of GST due to general trade practice

Authors

Harsh Shah Partner | Mumbai

Latest Thought Leadership

News & Media 18th Jul 2024

Byju’s may challenge NCLT’s insolvency proceedings order against its parent

Read More
Alerts & Updates 18th Jul 2024

SEBI Proposes to Launch a New Financial Product

Read More
Alerts & Updates 18th Jul 2024

Should AIFs be registered under GST?

Read More
Alerts & Updates 17th Jul 2024

Pharmaceutical Regulations: A move towards greater transparency and accountability

Read More

The GST Act will now have provisions to recognize general practice in trade to consider cases of non-levy or short-levy. However, contrary to speculation, this will not provide any relief to online gaming companies. The GST council has recommended inserting a new Section 11A in the CGST Act to give powers to the government, on the recommendations of the Council, to allow regularization of non-levy or short levy of GST where tax was being short paid or not paid due to common trade practices.

To shed light on this issue, शिशिर सिन्हा (SHISHIR SINHA) from businessline writes on “Centre, States to be empowered to regularise short/non-levy of GST due to general trade practice” with insights from our Partner Harsh Shah.

Read the article here