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GOM ON GST
New GST reforms to provide greater relief to the common man, farmers, middle class, MSMEs: Sitharaman during GoM meetNirmala Sitharaman presented GST reforms to GoMs. The plan includes slashing tax rates and easing compliance. Tax rates will be at 5 and 18...- State finance ministers' panel discusses ways to curb ITC frauds, sector-specific tax evasionA panel of state finance ministers convened to address the escalating issue of tax evasion, particularly concerning Input Tax Credit (ITC) ...
- Reports of GST rate changes on various goods and services speculative: CBICThe Central Board of Indirect Taxes & Customs (CBIC) clarified that media reports about GST rate changes recommended by the Group of Minist...
- Cigarettes, tobacco items, aerated beverages may attract higher 35% GST; decision on Dec 21Tobacco GST Hike: The Group of Ministers on GST rate rationalisation decided to increase tax on aerated beverages, cigarettes, and tobacco ...
- GST Council to hold 55th meet on December 21 in Jaisalmer, RajasthanUnion Finance Minister Nirmala Sitharaman will meet her state counterparts on December 21 in Jaisalmer, Rajasthan, for the 55th GST Council...
- GST reduction will make insurance little affordable for customers, says Department of Finance Joint SecyThe Department of Finance's Joint Secretary stated that a reduction in Goods and Services Tax (GST) could make insurance more affordable fo...
- GoM decides to cut GST on 20-litre water bottles, bicycles to 5%; raise rate on shoes, watchesThe GoM on GST rate rationalisation has proposed lowering tax rates to 5% on 20-litre packaged drinking water bottles, bicycles, and exerci...
- GST on term life insurance premium, senior citizen's health coverage likely to be exemptThe Group of Ministers (GoM) is likely to recommend exempting Goods and Services Tax (GST) on term life insurance premiums and health insur...
- Tax on 100 items to be slashed? GST's rate rationalisation panel to decide next monthThe GoM on GST rate rationalisation has discussed potential tax rate changes on over 100 items, including reducing taxes on some goods from...
- GoM on GST rate rationalisation to meet on September 25 to discuss slab, rate tweaksThe ministerial panel on GST rate rationalisation will meet on September 25 in Goa to discuss potential changes to tax slabs and rates. The...
- Finance Ministry releases Rs 1.1 lk cr as third instalment of tax devolution to state govts"One advance instalment in addition to the regular instalment due in June 2023 is being released to States to enable them to speed up capit...
- FinMin starts process for deciding on convenor of GST rate rationalisation GoMIndia's finance ministry has started the process of deciding on a new convenor of the GoM on GST rate rationalisation. The position has bee...
- 28% GST on online games only when winning depends on certain outcome, says CBIC ChiefWith the recent GST Council meet not bringing up the Group of Ministers (GoM) report on online gaming, the department has said it would go ...
- GoM report on appellate tribunals, decriminalising of GST law top agenda of 48th GST Council meetThe Group of Minister's (GoM) report on setting up appellate tribunals to hear disputes, and decriminalisation of GST law will be the key a...
- GoM still divided on 28% e-gaming GST, GGR levyUP and WB favoured a differential treatment between games of ‘skill’ and ‘chance’, say sources.
- GoM likely to recommend 28% GST on online gaming; Council to take decision on basis of valuationThe GoM, chaired by Meghalaya Chief Minister Conrad Sangma, met virtually on Tuesday to discuss and conclude their long pending report on t...
- GoM on casinos, online gaming, horse racing to submit report to FM Nirmala in a day or two: SourcesRegarding casinos, the GoM had recommended that the tax should be levied on the full face value of the chips/coins purchased from a casino ...
- GoM for peak 28% GST only on betting component of online gaming, casinosGoa had opposed GoM's earlier recommendation and wanted that the 28% GST be levied only on the betting amount and not the full spend at a c...
- GoM on GST levy on casinos, online gaming to meet on July 12Addressing a conference on GST organised by Federation of Indian Chambers of Commerce & Industry (FICCI), Uttar Pradesh finance minister Su...
- GST Council: No change in tax on vaccines, other Covid-related items like oximeters, concentrators see reductionGST Council cut tax rate from 12% to 5% on medical grade oxygen, BiPaP machines, oxygen concentrators, ventilators, pulse oximeter
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