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Representational Image Jaisalmer: The goods and services tax council on Saturday decided to levy an 18 per cent GST on margin value on the sale of used electric vehicles by businesses and agreed to keep jet fuel (ATF) out of the ‘one-nation-one-tax’ regime. The GST Council in its 55th meeting also decided to clarify on…
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Currently, GST is a four-tier tax structure with slabs at 5, 12, 18, and 28 per cent. (Representational) New Delhi: The GoM on GST rate rationalisation on Monday decided to hike tax on sin goods like aerated beverages, cigarettes, tobacco and related products to 35 per cent from the present 28 per cent, an official…
Read More “GST On Cigarettes, Tobacco, Aerated Beverages May Be Hiked To 35%” »
Union Minister of State for Finance Pankaj Chaudhary. File. | Photo Credit: PTI The Goods and Services Tax (GST) Council has set up a 10-member GoM, chaired by Minister of State for Finance Pankaj Chaudhary, to decide on the taxation of luxury, sin and demerit goods once the compensation cess ends in March 2026. The…
Read More “GST Council sets up GoM on compensation cess; panel to submit report by December 31” »
Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs in a conversation with The Hindu in Chennai on September 21, 2024 | Photo Credit: Dinesh Krishnan Union Finance Minister Nirmala Sitharaman on Saturday (September 21, 2024) said the Goods and Services Tax (GST) Council is looking at the GST rates, item by item, for rationalisation…
Read More “GST Council is looking at rates item by item for rationalisation: Nirmala Sitharaman” »
Finance Minister Nirmala Sitharaman speaks in the Rajya Sabha on August 8, 2024. Photo: Sansad TV via PTI The Union government has nothing to do with imposing the goods and services tax (GST) on health insurance premiums, Finance Minister Nirmala Sitharaman insisted in the Rajya Sabha on Thursday (August 8, 2024), maintaining that the issue…
New Delhi: Union Finance Minister Nirmala Sitharaman chairs the 53rd GST Council meeting, in New Delhi, Saturday, June 22, 2024. The story so far: On June 22, the GST council recommended introducing biometric-based Aadhaar authentication for GST registrations, in a phased manner. In a media interaction after the conclusion of the council meeting, Finance Minister…
Union Finance Minister Nirmala Sitharaman chairs the 53rd GST Council meeting, in New Delhi on June 22, 2024. | Photo Credit: PTI Union Finance Minister Nirmala Sitharaman said the 53rd GST council has taken a lot of decisions relating to trade facilitation and easing the compliance procedures for small businesses, MSMEs and other taxpayers. Services…
Bharatiya Janata Party (BJP) leader Nirmala Sitharaman arrives to assume charge as the Union Finance Minister, at the Ministry of Finance in New Delhi on June 12, 2024. | Photo Credit: ANI The Centre has decided to convene a meeting of the Goods and Services Tax (GST) Council on June 22, eight-and-a-half months after its last…
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Somnath Zende, 39, a police sub-inspector (PSI) in Pimpri-Chinchwad, Pune’s largest satellite city, says he trains at the gym for two hours, before work begins at 9 a.m. To build his body, he spends ₹600 daily on protein shakes and other supplements, besides his expenditure on the gym membership. About three months ago, as chatter…
Read More “Online gaming platforms: the risk of a fantasy” »
Finance Minister Nirmala Sitharaman. File | Photo Credit: PTI Amid the sustained slump in India’s exports, the Goods and Services Tax (GST) Council has cleared a few measures to boost foreign trade, including enabling tax credits for services exporters receiving payments in rupees, critical for trade with countries like Iran and Russia that face global…
Read More “GST Council lifts tax blockages for rupee trade ” »