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GST FITMENT COMMITTEE
GST panel may consider allowing transfer of unused tax credit within corporate groupsA key GST panel will consider industry suggestions for transferring unutilised input tax credit. Exempting intra-group corporate guarantees...- GST law panel clears proposal to shield buyers' input tax credit from supplier defaultsA GST Council proposal will protect buyers from losing input tax credit. This protection applies if suppliers fail to deposit taxes with th...
- Fitment panel clears two-slab GST structureThe GST Council is set to consider a proposal for a simplified two-slab GST structure of 5% and 18%, along with a 40% rate for sin and luxu...
- FM Sitharaman-led GST Council meet begins; Here are the key expectationsThe 54th GST Council meeting, led by Finance Minister Nirmala Sitharaman and attended by state ministers, commenced on Monday. Key agenda i...
- GoM on GST rates favours retaining 4-slab structureThe Group of Ministers (GoM), after a meeting here on Thursday, tasked a committee of tax officials to look into the implication of carryin...
- Plan afoot to reclassify items for GST clarity in FMCG sectorThe Central Board of Indirect Taxes and Customs (CBIC) is planning to prepare a list of products that end up in litigation due to classific...
- GST council meeting today, what is the agenda?The Goods and Services Tax (GST) council will meet to discuss various topics including exemption on GST on powdered millets, extending conc...
- GST Council's fitment committee rejects rate cut on over dozen items; defers call on uniform cess on tobacco productsThe Fitment Committee of goods and services tax (GST) Council has recommended exempting powdered millet from GST when sold in loose form, w...
- GST Council likely to exempt IGST on cancer drug import, fix 5% tax on refreshments served in multiplexBesides, import of medicines and Food for Special Medical Purposes (FSMP) used in the treatment of rare diseases for personal use and also ...
- GST Council likely to define MUVs and XUVs for levy of 22 pc cessThe GST Council is likely to clarify on the definition of multi utility vehicles (MUVs) and crossover utility vehicles (XUVs) for levy of 2...
- GST Council to decide cement rate cut on February 18A team of officials working with India's Goods and Services Tax Council will decide cutting rates for cement on Feb. 18, the chairperson of...
- GST dept may soon clarify on exemptions to IVF, tax on honorarium paid to guest anchorsA committee of tax officers from the Centre and states, referred to as the Fitment Committee, has informed the GST Council that healthcare ...
- Officers committee suggests deferment of decision on levying GST on cryptoThe committee of officers comprising both from Centre and states, referred to as Fitment Committee, felt that a deeper study was needed on ...
- Opposition states to seek GST waiver for COVID-19 goodsRajasthan, Chhattisgarh, Punjab, Jharkhand, West Bengal, Kerala, Tamil Nadu and Maharashtra came together on Wednesday to frame a joint str...
- Fitment panel rules out GST cut for auto, consumer durables or biscuitsThe fitment panel has blamed the current liquidity crisis and troubles of NBFCs for auto sector slowdown.
- Bengal Finance Minister Amit Mitra questions haste in cutting GST on EVsMitra instead pitched for a cut in taxes on hybrid and BS VI vehicles.
- GST on electric vehicles set to be slashed from 12% to 5%Those buying electric vehicles will get an additional income tax deduction of Rs 1.5 lakh on the interest paid on loans taken to buy EVs.
- GST Council might take these measures to simplify the taxHere are more measures to make the new tax regime smoother.
- 'Demand of lower GST on govt works to be referred to panel'The state government has already given a list of 33 items such as beedi and handloom cloth for which it wants lower tax rates under the GST...
- 70% of all goods and some consumer durables to become cheaper under proposed GST regimeIndia is likely to rely on the effective tax rate currently applicable on a commodity to get a fix on GST slab, allowing most goods to make...
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