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LUXURY GOODS CLASSIFICATION
Next generation GST reforms led to growth in sales across sectors: FM Nirmala SitharamanNew GST reforms introduced on September 22 have spurred sales growth across India. Sectors like automobiles, consumer durables, and e-comme...- GST on luxury cars: Mercedes, BMW, Audi might see a price drop; Check likely price cutsIndia's GST council has streamlined indirect taxes to two slabs, reducing prices on over 400 items. While luxury cars face a 40% 'special s...
- Make GST payments only by e-rupee, tokenisation can achieve total transparencyTo enhance the Goods and Services Tax (GST) system, the GST Council should mandate e-rupee use for payments to curb input tax credit fraud ...
- GST cut: Major plan on agenda for all food, textile itemsThe GST Council is scheduled to meet on September 3 and 4 to discuss reducing tax rates on various goods and services. Key proposals includ...
- 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...
- GST 2.0 to offer treatment for other pain points tooGoods and Services Tax (GST) 2.0 is coming soon. It will revamp the indirect tax structure. The GST Council will likely meet in September. ...
- Proposed GST rate tweaks on automobiles to end classification disputesThe Centre is planning sweeping GST reforms that could lower taxes on automobiles, now taxed up to 50% including cess. Under the proposal, ...
- Next-gen GST set to be ‘game changer’, paves way for single tax slab by 2047: Govt sourcesThe government has unveiled plans to simplify the Goods and Services Tax system into just two slabs of 5% and 18%, with a special 40% rate ...
- GST rate rejig: Sitharaman to address Aug 20 GoM meet to put forth Centre's rate cut proposalFinance Minister Nirmala Sitharaman will address a key meeting of state finance ministers on August 20–21 to push for major GST reforms. Th...
- GST's identity crisis: One nation, multiple headachesEight years since the introduction of GST, complex structures, clogged tribunals, and compliance burdens are chipping away at the ‘One Nati...
- 2023 rewind: Real estate takes luxury route as housing sales hit fresh peak this yearAccording to real estate consultancy firm Anarock data, housing sales in India's top seven cities have reached a new peak in 2023, surpassi...
- Why GST restructuring is the need of the hourIndia is one of the few countries to have opted for a more intricate structure, featuring four or more tax slabs. GST slabs in India are 0%...
- What to do with AMC and urban consumer stocks? Here’s what you need to knowSEBI's new norms on mutual fund expense ratios may seem negative, but the overall trend for mutual fund investments in the country has been...
- View: Comprehensive reform of GST structure preferable to repeated small changesThe goods and services tax (GST) could bring an end to this and the GST Council will be wise to shed their obsession with revenue-positive ...
- Stop calling luxury cars as sin goods; reduce GST: JLRIf sin goods mean expensiveness, then even wearing expensive shirts would also be 'sin', JLR India MD said.
- Next step in GST recast: Lower end of tax slabsThe government will focus on the rejig of the 12 per cent and 5 per cent slabs after the goods and services tax regime settles down and the...
- Software prices to rise, end classification rowThis might have an impact on demand for IT services and products. For SEZ units for software, the upfront concession of tax will be replace...
- GST rate structure positive for market but 'devil is in the detail'If the new tax rates will be lower than current rates certainly it will have a positive effect on stock price. The market will also look fo...
- 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.
- Ministry of tourism brings out new, minute guidelines for star luxury hotelsAll four-star, five-star and five-star deluxe hotels will have to install blackout curtains and provide luggage racks, portable or fixed, f...
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