Gst On Pan Masala

India has highest oral cancer cases due to betel nut in South Asia: Study

The Lancet Oncology study highlighted that South-Central Asia recorded the highest number of oral cancer cases linked to smokeless tobacco and areca nut use

Pan masala makers to pay fine from Oct if machines unregistered with taxmen

The government has notified October 1 as the date for implementation of the penalty provision for manufacturers of pan masala and similar tobacco products, if they fail to register their packing machinery with GST authorities. The GST Network had earlier in May and June notified two forms GST SRM-I and II for registering machines used by such manufacturers and to report inputs procured and corresponding outputs with tax authorities. The Central Board of Indirect Taxes and Customs (CBIC) on August 6 notified October 1, 2024, as the date for levy of up to Rs 1 lakh penalty for failure to register their packing machines with GST authorities. In January, the Central Board of Indirect Taxes and Customs (CBIC) had announced the introduction of a new registration and monthly return filing procedure to improve GST compliance for manufacturers of pan masala and tobacco products effective April 1. The date was later extended till May 15. The move to overhaul the registration, record-keeping

Govt extends implementation of special registration for gutkha firms

The government has extended the deadline for implementation of special procedure for registration and monthly return filing of manufacturers of pan masala, gutkha and similar tobacco products till May 15. Earlier in January, the Central Board of Indirect Taxes and Customs (CBIC) had announced the introduction of a new registration and monthly return filing procedure effective April 1, 2024. The move to overhaul the registration, record-keeping, and monthly filing of such businesses was aimed at improving GST compliance for manufacturers of pan masala and tobacco products. The GST law was also amended via Finance Bill 2024, to say that manufacturers of pan masala, gutka and similar tobacco products will have to pay a penalty of up to Rs 1 lakh, if they fail to register their packing machinery with the GST authorities with effect from April 1. However, this penalty provision is yet to be notified. The procedure was to be applicable for manufacturers of pan-masala, unmanufactured tob

Automated IGST refunds on pan masala, tobacco to be restricted from Oct 1

Automated refund of Integrated GST (IGST) on export of pan masala, tobacco, and similar other items will be restricted from October 1, the finance ministry has said. Exporters of such items will have to approach jurisdictional Tax officers with their refund claims and get them cleared, as per a notification dated July 31. The changes in the notification will come into effect from October 1. Tax experts said the move is aimed at checking tax evasion in the sector, as there might be over-valuation of goods which are being exported, thus leading to higher IGST refund outgo. Manual checking of refunds will ensure that valuation is optimally done and taxes are paid at all stages. The items on which automated IGST refund restriction has been imposed include pan masala, unmanufactured tobacco, hookah, gutkha, smoking mixtures for pipes and cigarettes and other items, including mentha oil. Such items attract 28 per cent IGST, plus a cess. AMRG & Associates Senior Partner Rajat Mohan said

Govt caps maximum GST cess rate on pan masala; links rate to sale price

The government has capped the maximum rate of GST compensation cess that would be levied on pan masala, cigarettes and other forms of tobacco and linked the highest rate to their retail sale price. The capping of the cess rate was brought in as part of the amendments to the Finance Bill, 2023, which was passed by the Lok Sabha last Friday. As per the amendment, the maximum GST compensation cess rate for pan masala will be 51 per cent of the retail sale price per unit. In the current regime, the cess is charged at 135 per cent ad valorem. The rate for tobacco has been fixed at Rs 4,170 per thousand sticks plus 290 per cent ad valorem or 100 per cent of the retail sale price per unit. So far, the highest rate was Rs 4,170 per thousand sticks plus 290 per cent ad valorem. The cess is levied over and above the highest Goods and Services Tax (GST) rate of 28 per cent. Changes in schedule-I of GST compensation cess Act, brought in via amendment in Finance Bill, has capped the maximum c

Fitment panel to examine compensation cess structure for pan masala

To review the feasibility of MRP-linked compensation cess rates

Next phase for GST

Appellate tribunal will improve business environment

49th GST Council meeting scheduled to be held in New Delhi on Feb 18

The GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, will meet on February 18. "The 49th meeting of the GST Council is scheduled to be held at New Delhi on February 18, 2023," the GST Council said in a tweet on Friday. The council may take up a discussion on the report of a group of ministers on taxation of 'pan masala' and 'gutka' firms and a report by a Group of Ministers (GoM) on setting up of appellate tribunals. The report by another GoM, chaired by Meghalaya Chief Minister Conrad Sangma, for GST levy on online gaming, casinos and horse racing may come up for deliberations. These three GoM reports were part of the agenda items in the last GST Council meeting, that was held on December 17, 2022.

GST Council meet: GoM pitches for 'specific tax levy' on pan masala, gutkha

Proposes levy on 38 such items in the range of 12-69% of retail sale price

GST officials detect over Rs 830 cr tax evasion by Delhi pan-masala unit

Central GST authorities have detected a tax evasion of over Rs 830 crore by an illegal pan-masala manufacturing unit here and arrested a person for his involvement, according to an official statement

GST Council mulling cess on Pan Masala products manufacturing stage

This proposed amendment to the GST (Compensation to States) Act, 2017, would be deliberated upon by the council in its meeting later this month