VATupdate

ECJ rules ‘jackup’ drilling rig does not qualify as a sea-going vessel for VAT

On 20 June 2019 the ECJ has ruled that the supply of an offshore jackup drilling rig does not qualify as a sea-going vessel. This means on the one hand that such drilling rigs cannot be (locally) supplied under the zero VAT rate and on the other...

Online fantasy sports game is a ‘game of skill’, GST at 18% applicable

Online Fantasy Sports Gaming are not gambling services, rather are games of skills, hence, respondent No. 3, a Company named ‘Dream 11 Fantasy Pvt. Ltd.’ conducting Online Fanstasy Sports Gaming is not in error in paying GST under entry...

10 major decision taken in 35th GST Council Meeting

1. Extension of due date for filing first GST Annual Return & Reconciliation Statement 2. Implementation of GST Returns for small taxpayers (with turnover of up to Rs. 5 crores) 3. Implementation of GST Returns for large taxpayers (with turnover...

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