KPMG Indirect Tax Head & Partner, Abhishek Jain said with the said provisions being made effective from October 1, industry needs to ensure appropriate readiness for adoption of the revised taxation.
Inaugurating 'The Conclave 2023,' hosted by the Pratidin Media Network, Sitharaman shed light on the substantial advantages that the northeastern states have reaped from the implementation of the GST.
Earlier this week, the road, transport and highway minister's remarks regarding the need to levy 10 per cent tax on diesel-run vehicles to help cut emissions had generated lots of controversy.
Industry players have lamented that taxing GST on deposits rather than the technology platform commission charged by the companies will make the unit economics unviable, wiping out 80 per cent of the industry.
Parliament on Friday approved amendments to the Central and Integrated GST laws to levy 28 per cent tax on the full face value of bets in online gaming
The proposed change to the Central Goods and Services Tax Act will enable the implementation of a 28 percent GST rate for horse racing, online gaming, and casinos.
The amendments to the Central GST (CGST) and Integrated GST (IGST) acts, which were approved by the GST Council last week, are likely to be introduced in the ongoing monsoon session of Parliament