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GST rate rationalisation has been pending before the committee for a long time. New Delhi: The reconstituted Group of Ministers (GoM) on GST for rate rationalisation met for the first time on Thursday. West Bengal finance minister Chandrima Bhattacharya says she has put in a request to reduce GST rates of 18 per cent on…
Read More “At Key GST Meet, States Request Rate Cut On Health Insurance Premiums” »
The Goods and Services Tax (GST) has played a remarkable role in bringing down the country’s logistics cost, Economic Survey on July 22 said. File | Photo Credit: The Hindu The Goods and Services Tax (GST) has played a remarkable role in bringing down the country’s logistics cost, Economic Survey on July 22 said. The…
Read More “Economic Survey 2023-24: GST played remarkable role in reducing logistics cost” »
In the run-up to the Union Budget, Nitish Kumar and Chandrababu Naidu, the Chief Ministers of Bihar and Andhra Pradesh, respectively, who are in a position to decide the political fate of the National Democratic Alliance (NDA) government at the Centre, have demanded special financial packages for their respective States. These packages could potentially increase…
Read More “Should States get special packages outside Finance Commission allocations?” »
Former CEA Arvind Subramanian. File | Photo Credit: The Hindu Revenues from the seven-year old Goods and Services Tax (GST) had not lived up to expectations, having attained pre-GST levels only now, and the objective of a ‘Good and Simple Tax’ remains elusive, former Chief Economic Advisor Arvind Subramanian averred on Thursday, terming the lack…
Chairman of the Thirteenth Finance Commission Vijay Kelkar has called upon the country’s next government to undertake urgent reforms in the “unnecessarily complex” GST regime, such as switching to a single tax rate of 12%. Image for representation. File | Photo Credit: The Hindu A key architect of India’s tax reforms and the chairman of…
India’s gross GST revenues hit their second-highest level in March. File | Photo Credit: Reuters India’s gross Goods and Services Tax (GST) revenues hit their second-highest level of ₹1,78,484 crore in March, even as the growth rate in tax collections slowed to 11.5% from 12.5% in February. This lifted the total tally from the indirect…
Read More “Gross GST revenues hit their second-highest level of ₹1,78,484 crore in March” »
February’s GST revenue growth reflected the third-highest uptick in 2023-24 and lifted the total collections so far this year to ₹18.4 lakh crore. File | Photo Credit: Reuters India’s gross revenues from the Goods and Services Tax (GST) grew at a three-month high pace of 12.54% in February to cross ₹1.68 lakh crore, marking the…
Read More “Up 12.5%, February GST kitty is fourth highest ever” »
February’s GST revenue growth reflected the third-highest uptick in 2023-24 and lifted the total collections so far this year to ₹18.4 lakh crore. File | Photo Credit: Reuters India’s gross revenues from the Goods and Services Tax (GST) grew at a three-month high pace of 12.54% in February to cross ₹1.68 lakh crore, marking the…
An Indian consumer goods trader shows letters GST representing “Goods and Services Tax” (GST)at his shop in Hyderabad on August 3, 2016. Growth in India’s gross Goods and Services Tax (GST) revenues bounced back in October with tax collections rising 13.4% to the second-highest monthly tally of ₹1.72 lakh crore. | Photo Credit: AFP Growth…
Read More “GST collections rise 13% to ₹1.72 lakh crore in October” »
The puja items are exempt from GST since 2017, said tax body. (Representative Pic) New Delhi: The Congress on Thursday accused the Narendra Modi government of imposing an 18 per cent GST on the water of the holy Ganga river and termed it the height of “loot and hypocrisy”. The Central Board of Indirect Taxes…
Read More “Congress Says Centre Charging 18% GST On Gangajal, Tax Body Refutes Claim” »