GST

As such, eligible Singaporeans will receive two payments: one through the GSTV - Cash and the other through the GSTV - Cash Special Payment. About 575,000 ...

About 575,000 Singaporeans aged 65 and above this year will also receive up to $450 in their Central Provident Fund MediSave accounts as part of the GSTV scheme. MOF said the payments are part of the Government's continuing support for those from lower-income backgrounds, as well as the elderly, to help defray their GST expenses and costs of living. As such, eligible Singaporeans will receive two payments: one through the GSTV - Cash and the other through the GSTV - Cash Special Payment.

The Ministry of Finance announced that 1.5 million Singaporeans will receive up to S$700 in GST Voucher benefits in August.

Last month, Deputy Prime Minister Lawrence Wong announced a special package to help middle- and lower-income families tide through the current inflation wave. As for the MediSave top-up, Singaporeans aged 65 and above will receive up to S$450 based on their home’s annual value. This is in addition to another S$300 in a Special Payment, for a total of S$700. If the annual value of your home – that is, the estimated gross annual rent of the property if you were to rent it out – is up to S$13,000, you’ll receive S$400 in GST Voucher-Cash (GSTV-Cash). On Tuesday (12 Jul), the Ministry of Finance (MOF) announced that 1.5 million Singaporeans will receive up to S$700 in GST Voucher benefits in August. Additionally, there will be a MediSave top-up of up to S$450 for 575,000 elderly Singaporeans aged 65 and above.

GST was introduced with the sole purpose of easing out compliances and avoiding the cascading of taxes. However, the purpose somewhere appears to have been ...

The gravity of this matter was reckoned by Hon’ble Orissa High Court in the matter of Safari Retreats, where the ITC provisions were read down to hold that such ITC related to construction was to be allowed to the business. Currently, upon such grant of FSI, GST is levied and the developers are obliged to discharge the same. However, the issue is pending before the Hon’ble Supreme Court and most of the industry players are still hesitating to take the ITC on construction of immovable property. Such activity should ideally not be treated as a “service” exigible to GST. As on date, GST remains applicable on FSI, either issued by local authorities or subsequently sold by others. In this regard, as per the General Clause Act, 1897, immovable property includes land and benefits to arise out of land. While the sector adjusts with various economic and pandemic issues, GST always remains a constant challenge to be taken care of.

Under the GSTV scheme, 575,000 eligible Singaporean adults aged 65 and above this year will have up to S$450 credited into their Central Provident Fund MediSave ...

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Eligible Singaporeans will receive two payments via the GSTV - Cash, and the other through the GSTV - Cash Special Payment, which are part of the S$1.5 billion ...

Those on GovCash can withdraw their GSTV – Cash and GSTV – Cash Special Payment at OCBC ATMs islandwide by entering their NRIC and payment reference number that will be sent to them at the end of August. Eligible recipients of the GSTV – Cash and GSTV – Cash Special Payment will automatically receive the payment if they have signed up for government disbursement schemes previously. About 575,000 Singaporeans aged 65 and above will also have up to S$450 credited into their CPF MediSave Account in August, as part of the GSTV scheme.

Under the GSTV scheme, 575,000 eligible Singaporean adults aged 65 and above this year will have up to S$450 credited into their Central Provident Fund MediSave ...

You can select 'Manage settings' for more information and to manage your choices. You can change your choices at any time by visiting Your Privacy Controls. Find out more about how we use your information in our Privacy Policy and Cookie Policy. Click here to find out more about our partners. - Information about your device and Internet connection, including your IP address

The 47th GST Council meeting, chaired by finance minister Nirmala Sitharaman, had last month decided to constitute a GoM to address various concerns raised ...

It said that accordingly the Council has decided to constitute a GoM to look into the issues involved. "In its 47th meeting held on June 28-29 in Chandigarh, the GST Council discussed the changes required in provisions pertaining to the GST Appellate Tribunal in the GST Laws to bring it in conformity with judgements of the courts in relation to various aspects concerning Tribunals," a finance ministry statement said. The 47th GST Council meeting, chaired by finance minister Nirmala Sitharaman, had last month decided to constitute a GoM to address various concerns raised by the states in relation to the constitution of the GSTAT.

The group of ministers in their meeting last month, before the GST Council meeting, had proposed that the GST be hiked by 10 per cent to the highest slab ...

In the case of horse racing, the existing practice of levying 28 per cent GST on the entire bet amount is proposed to be continued. Besides the consensus on the 28 per cent levy on online gaming, it was also decided that the tax will be on the entire face value or bet amount and not on the net amount after deducting the prize money. The group of ministers in their meeting last month, before the GST Council meeting, had proposed that the GST be hiked by 10 per cent to the highest slab rate of 28 per cent.

Last month during the GST Council meeting, the decision on levying 28% GST on casinos, online gaming, and lottery was deferred.

The IAMAI said that the 18% tax slab is legal, fair and in line with international taxation standards for the sector. Moreover, there were concerns around not having a proper distinction between skill-based gaming and real-money gaming. The GoM led by Meghalaya Chief Minister Conrad Sangma was given another 15 days to work on the issues.

The state finance ministers' panel looking to bring online gaming and casinos under GST failed to reach a consensus on Tuesday and decided to finalise its ...

More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. No further GST would apply to the value of bets placed in each round of betting, including those placed with winnings in previous rounds.

The state finance ministers' panel felt that further deliberations were required on the matter and fixed 10 August as the date for finalising its report.

No further GST would apply to the value of bets placed in each round of betting, including those placed with winnings in previous rounds. In the case of racecourses, the GoM had suggested that GST be levied on the full value of bets pooled in the totalisators and placed with the bookmakers. The Group of Ministers (GoM) will finalise its report on taxing casinos, online gaming and horse racing by 10 August. In a virtual meeting held on Tuesday, the GoM discussed various methods of taxation of casinos, horse racing and online gaming.

Officials said the Group of Ministers (GoM) held a virtual meeting on Tuesday and discussed various methods of taxation of casinos, horse racing and online ...

No further GST would apply to the value of bets placed in each round of betting, including those placed with winnings in previous rounds. Stories become more believable though, when told in writing by one of the greatest Hindi writers Bihar has ever produced. There are stories from that place called ‘inside out’, where absence and presence collide and become a song of love and loss.

The group of ministers considering a uniform 28% goods and services tax on casinos, race horses and online gaming has received an extension to submit its ...

The GoM was earlier expected to submit the report by July 15. The group of ministers considering a uniform 28% goods and services tax on casinos, race horses and online gaming has received an extension to submit its report. The council then agreed to review GST on horse racing, casinos and online gaming.