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GST ELIMINATION ON ESSENTIALS
Hailing PM Modi, BJP says GST reforms 'next-gen, historic'The BJP celebrated the new GST reforms as a significant step, with JP Nadda highlighting PM Modi's commitment to easing citizens' lives. Na...- Govt likely to slash GST on insurance premiums to nil, says reportThe government plans to reduce GST on insurance premiums from 18% to 5% or even zero, as part of the upcoming GST 2.0 reforms aimed at simp...
- Congress seeks GST official discussion paper on the proposed restructureThe Congress party has urged the government to release an official discussion paper on the proposed GST restructure, dubbed "GST 2.0." The ...
- India to simplify GST: Finance Ministry proposes two-slab system with special rates only for select itemsThe Finance Ministry has proposed a simplified two-tier GST system with standard and merit slabs, along with special rates for select goods...
- No GST on penal charges levied by banks, NBFCs: CBICGST will not be charged on penal charges levied by banks and NBFCs, as clarified by the CBIC. This exemption is due to such charges being d...
- Arvind Kejriwal urges Centre to enact law banning loan waivers for corporatesArvind Kejriwal has urged Prime Minister Modi to introduce a law prohibiting the waiver of loans given to billionaires, criticizing the cen...
- Health insurance tax relief coming soon? GST Council may consider lowering tax rates on insurance in December meetingThe GST Council is likely to consider lowering the tax rate on certain insurance plans, including potentially eliminating the 18% tax on te...
- Group of Ministers fails to reach consensus on GST rate rationalisationThe Group of Ministers will, however, present a status report to the GST Council on the consensus which was arrived at the previous meeting...
- Group of Ministers on GST rate rationalisation to meet on Jun 17GST Council is likely to meet by the end of this month and will discuss, among other things, the GoM interim report on rate rationalisation...
- GoM to meet on Nov 27 to finalise report on GST rate rationalisationSources said the Fitment committee, comprising tax officers from states and the centre, has made many "sweeping" recommendations regarding ...
- Ministerial panels set up to review GST exempt list, identify evasion sourcesThe 7-member panel, which would submit a report in two months, would be headed by Karnataka Chief Minister Basavaraj Bommai and include Wes...
- Govt may abolish import duty on ventilators, masksA proposal to do away with customs duty and IGST on around 15 product categories is being considered by the revenue department, officials t...
- PM Narendra Modi rules out single rate under GST, says Mercedes and milk cannot have same taxModi said the Goods and Services Tax (GST) has within one year of its launch led to over 70 per cent jump in indirect taxpayer base, demoli...
- Construction sector may benefit due to input tax credit under GST: ReportMajority of construction contracts fall under the nature of work contracts, which is overlapping between supply of services and supply of g...
- GST is expected to bring down prices, but all depends on new tax ratesThe goods and services tax (GST) is expected to reduce b prices by eliminating multil ple levies, but could some goods become costlier?
- Outsourcing some of your manufacturing work? GST will bring significant changes for youThe manufacturer receives the raw material, aluminium alloy in this case, constructs the chassis and sends it back to the car company. This...
- GST tax structure ready; how will it impact economy and various sectorsRemoval of tax barriers with seamless credit will make India a common market leading to economies of scale in production and efficiency in ...
- Bring land, realty, power under GST fold, says Arvind SubramanianArvind Subramanian, who for the finance ministry had authored a report on possible tax rates under the Goods and Services Tax (GST), sugges...
- Government considering two-rate structure; key services to be taxed at lower rate in GST regimeWorried about a steep rise in service tax when the goods and services tax is rolled out, the government is considering a two-rate structure.
- GST as a unifier of Indian marketsGST would be single biggest measure after elimination of licensing in 1991 and could provide requisite stimulus to the economy during econo...
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