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GST ON LUXURY ITEMS
Tata Motors Q4 profit falls 32% to ₹5,783 crore on weak JLR performanceIn the March quarter, Tata Motors reported a significant 32 percent drop in net profit, reflecting increased operational costs and obstacle...- Liquor stocks have macro tailwinds, but will FTAs become a problem? 6 liquor stocks with an upside potential of up to 26%Supply chain disruptions caused by the US-Israel-Iran conflict have a second-order impact on several industries. The liquor sector is no ex...
- IPL teams appeal for tax rematch: 'Treat event as sport, not entertainment'Indian Premier League teams are asking the government to reclassify match tickets. They want IPL games treated as sports, not entertainment...
- Petrol at Rs 72, diesel at Rs 69 in Delhi? How GST could slash fuel prices in IndiaGlobal crude oil prices have surged past $110 per barrel. However, Indian retail fuel prices remain stable. This is due to government excis...
- GST rate rationalisation: Is there a second wind coming?The Indian government is contemplating Goods and Services Tax (GST) rate rationalisation, aiming to simplify the existing four-slab structu...
- Budget 2025: Nirmala Sitharaman to meet state FMs for pre-Budget, GST Council meet on Dec 21-22Finance Minister Nirmala Sitharaman is set to meet with state counterparts on December 21-22 for pre-budget discussions and a GST Council m...
- Rate rationalisation exercise: Luxe bags, cosmetic treatments may be moved to 28% GST SlabThe GST Council's GoM is considering moving 58 goods and 24 services, including luxury handbags, sunglasses, and cosmetic procedures, to a ...
- Make the GST list shorter, not longerA GST panel recommends moving more goods to the 28% luxury slab to simplify mid-range categories and merge 12% and 18% slabs. Focus on exem...
- GST Council may do away with 5% rate; move items to 3% and 8% slabsCurrently, GST is a four-tier structure of 5, 12, 18 and 28 per cent. Besides, gold and gold jewellery attract 3 per cent tax. In addition,...
- GST Council may consider proposal to raise lowest slab to 8%, rationalise tax slabsThe GST Council in its next meeting may look at raising the lowest tax slab to 8 per cent, from 5 per cent, and prune the exemption list in...
- GoM meet on GST rate rationalisation deferredThe Group of Ministers (GoM) on rate rationalisation, headed by Karnataka Chief Minister Basavaraj Bommai, also includes West Bengal Financ...
- Tax on TV, fridge, commonly used household items came down post GST: FinMin reportThe GST has five tax slabs of 0, 5, 12, 18 and 28 per cent with daily essential items attracting 'nil' tax rates and some white goods, apar...
- Jaitley sees GST rate cut on cement, ACs, TVs with rise in revenueThe Goods and Services Tax (GST), which subsumed 17 local taxes, was rolled out on July 1, 2017.
- Now, only 35 goods in highest tax bracket of GSTThere were around 226 goods in the 28 per cent category when Goods and Services Tax (GST) was implemented on July 1, 2017.
- No single rate for all items under GST: Arun JaitleySpeaking at the Rajya Sabha, the finance minister added that the process of rationalisation would also continue.
- GST Rates: Items that will continue to be expensiveOnly luxury and sins goods are now only in the highest tax bracket and items of daily use are shifted to 18 per cent.
- Good days may follow goods in highest tax slab, next big GST move could reduce prices of many itemsItems in the 28% slab include washing machines, refrigerators, cement, ceiling fans, watches, automobiles, tobacco products, nutritional dr...
- Levying cess on more items could make GST anomalous: ExpertsThe GST Council hearing out concerns of specific industry representatives is a welcome move adding suggestions like centralised registratio...
- GST rate on consumer durables should be 18%: CEAMACategorising consumer goods as items of mass consumption, the association has requested that the rate on all consumer durable products be k...
- Expert view: Key takeaways from the new GST ratesIn lowering the rate on common use items from expected 6% to revised rate of 5%, the interests of common man seem to have played a key role.
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