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SIN 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...- The makeover announced by GST Council is welcome, but a cup half-full with red tape still flutteringThe GST Council's recent meeting delivered on the promise of GST reduction and rationalization ahead of Diwali, reaffirming commitment to t...
- PM Modi welcomes GST council’s approval of rate cuts, says changes will benefit every section of societyThe GST Council, with PM Modi's endorsement, has approved comprehensive GST reforms, including rate rationalization and process simplificat...
- 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 ...
- Beverage companies seek 'sugar-based' tax in line with global modelsThe Indian Beverage Association urges the finance ministry for a sugar-based taxation system, aligning with global standards, ahead of a cr...
- 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 ...
- Alcohol, cigarette, gaming stocks slide up to 4.5% as govt proposes 40% sin tax under GST 2.0 overhaulThe government is planning GST 2.0. It may include a 40% tax on alcohol, cigarettes, and gaming. Consequently, shares of Godfrey Phillips, ...
- Insurance stocks surge up to 5% as Govt to consider GST cut on health and term insurance premiumsInsurance company stocks experienced a surge following the anticipation of a significant GST rate cut on health and term insurance, a long-...
- Ghosts of Christmas past? GoI’s repeated actions seem bent on violating a basic tenet of taxation: simplicityThe nuances of direct and indirect taxes, their impact on consumers, and the complexity of GST rates are discussed in this article. It argu...
- 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%...
- Exempt fizzy, juice-based drinks from sin tax: CompaniesNew Delhi-based Indian Beverage Association (IBA), an industry group that represents Coca-Cola, PepsiCo, Red Bull and Dabur, has urged the ...
- Bibek Debroy decodes the curious case of tax on pizza toppingsWhat is the GST rate on pizzas? There isn't one. That's the point. The GST rate on pizza bread - note the expression - is 5%. But if it is ...
- 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.
- 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.
- Corporate debt rejig can help lenders, borrowersThe corporate debt restructuring mechanism can surely help both lenders and borrowers, provided the true spirit and objectives of the mecha...
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