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In what could be a relief for companies, multinationals, and start-ups issuing ESOPs to employees, the upcoming GST Council is likely to issue clarification on the taxability of reimbursement of securities/shares as ESOP/ESPP/RSU provided by a company to its employees.
The upcoming GST Council meeting on June 22 is likely to deliberate on the issue of using extra neutral alcohol for industrial use, bringing in a much-awaited clarity for the manufacturing sector.
GST Council, on June 22, may clarify that GST payable by the developer (under the hybrid annuity model) for parts of the project under construction or maintenance will become due only when the invoice is raised or when the payment is made, whichever is earlier.
The upcoming GST Council meeting, scheduled for June 22 in New Delhi, is expected to provide clarity on the GST applicability on the telecom sector.
The Goods and Services Tax (GST) Council in its meeting on June 22 is likely to give tax relief on the import of maintenance, repair and operations (MRO) services for foreign airlines in India from the current 18 percent, a government official said.
The GST Council in its meeting on Saturday is likely to deliberate on a host of issues, including taxation of online gaming and corporate guarantees on related party services, besides levy of tax on spectrum fees paid by telcos, sources said.
The GST Council in its Saturday meeting might mandate the GST Appellate Tribunal (GSTAT) to adjudicate anti-profiteering cases and introduce “sunset date”, allowing filing of such complaints only up to April 1, 2025.
In a potential relief to the online gaming sector, the Goods and Services Tax (GST) Council is likely to consider an amendment to the Central Goods and Services Tax (CGST) Act, 2017, that would quash retrospective tax demands.
Online gaming companies hoping for relief from the GST Council on retrospective taxes adding up to Rs. 1.12 trillion may have to wait longer. The federal indirect tax body is unlikely to consider the industry’s plea during its meeting on Saturday, according to two officials informed about the council’s plans.
Natural gas players will be glued to the upcoming meeting of GST Council that could see the new government take a shot at bringing the feedstock under GST.