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TAX INCIDENCE REDUCTION
ATF prices for international airlines slashed 27%; domestic rates unchangedInternational airlines see a significant 27 percent cut in jet fuel prices. Domestic carriers, however, continue to pay unchanged rates. Co...- Hindalco shares rise 2% on Novelis' upbeat commentary; US arm reports $84 million net lossHindalco shares gained 2% after US arm Novelis plans to reopen its Oswego hot mill sooner than anticipated, despite a higher projected cash...
- Simpler on paper, complex in practice: Auto industry grapples with new GST frameworkIndia's GST Council has streamlined taxes on automobiles, shifting from a four-tier to a two-tier structure by discontinuing the Compensati...
- Fuel prices remain unchanged for sixth straight dayPrices of petrol and diesel were left unchanged for the sixth consecutive day across various cities including major metro cities like Delhi...
- Total tax on petrol down to 50 pc, diesel to 40 pc after duty cutsTwo dozen states and UTs have matched the central government's excise cuts with a VAT reduction. And, in those states, the percentage of ta...
- Don’t see enough measures to boost consumption: Pawan Goenka, M&MAspirational India, Economic Development For All and Caring Society; these are three very good themes, says Pawan Goenka, MD of M&M:
- Corporate tax cut could lead to annual savings of Rs 2,500 crore for the power distribution segment: ICRAAs per ICRA’s estimates, the extent of benefit that would accrue to discoms from the power generation and transmission segments, mainly fro...
- Anti-profiteering investigation: Mock purchases, premise visits planned to check B2B invoicesGST officials could carry out mock purchases, check invoices issued by top suppliers in their jurisdiction.
- Anti-profiteering authority seeks inputs from Airtel, Indigo on GST benefitsTaking suo-moto cognisance, the Authority has asked the market leaders in the telecom and aviation sectors to calculate the input tax credi...
- PSUs want vendors to meet anti-profiteering guidelinesA number of PSUs cutting across sectors and including the toptier ones like BHEL, Indraprastha Gas Ltd and SAIL have introduced such a clau...
- India may adopt item-based anti-profiteering rules to benefit usersThis means that a company will not be able to reduce prices of slow-moving products in its portfolio while keeping those of fast-moving one...
- Government notifies increase in cess ranging from 2-7% on motor vehiclesCess on mid-sized cars would go up by 2% to 17%, taking the total tax incidence to 45% from 43% now (28% GST + 7% cess).
- Nestle to cut Maggi ketchup, cerelac, dairy pricesNestle will cut cerelac prices too, and with the reduction in GST rate on milk powders, prices of everyday dairy are expected to reduce 4-5...
- Cellular operators write to Finance Ministry, seeks cut in GST rates for telecomFinance Ministry has already indicated that a review is only possible where the proposed tax rate is exorbitantly higher than the current l...
- TV, AC to cost more; smartphones to be cheaper under GSTThe GST Council had earlier this month put over 1,200 goods and 500 services in four tax slabs of 5, 12, 18, 28 per cent.
- How the government can enable reduced prices under the GST regime to reach consumersThe govt made its intention clear by introducing an anti-profiteering clause in GST law to ensure that a commensurate cut in prices is pass...
- Roll out of GST to bring down prices: GovernmentThe Central Board of Excise and Customs has given out a details of the existing tax incidence and under GST to demonstrate reduction in tax...
- Hold back price hikes till GST roll out: Hasmukh Adhia tells India IncRevenue Secretary Hasmukh Adhia said that anti- profiteering provision in GST laws was essential to ensure that the benefits of reduction i...
- Government working fast to prevent anti-profiteering by companies after GST roll outThe GST Council has conducted a detailed examination of the existing tariff structure and worked out what it should be done to prevent anti...
- Foodgrains, common man items to get cheaper under GSTCommon use items like hair oil, soaps, toothpaste to be taxed at 18% instead of present 22-24%. Decision on the rate of tax for services an...
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