Proposal to impose 35% GST on ’sin goods’ not a good idea: SJM
3 weeks, 1 day ago

Proposal to impose 35% GST on ’sin goods’ not a good idea: SJM

Live Mint  

New Delhi, Dec 18 Swadeshi Jagran Manch has dubbed the proposal to introduce 35 per cent GST on "sin goods" like aerated beverages and tobacco products as a "bad idea" as it would lead to smuggling and loss of revenue for the country. Earlier this month, the Group of Ministers recommended a special rate of 35 per cent on sin goods like aerated beverages, cigarettes, tobacco and related products. The All India Consumer Products Distributors Federation and the Indian Sellers Collective also opposed the proposal, saying it would harm small retailers, increase the burden on consumers, and promote black market activities. Echoing similar views Indian Sellers Collective said creation of a new slab of 35 per cent would be counterproductive.

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History of this topic

GST Council Announces Rate Cut On Fortified Rice Kernels To 5% From 18%
2 weeks, 5 days ago

GST Council Announces Rate Cut On Fortified Rice Kernels To 5% From 18%

ABP News  

The 55th Goods and Services Tax Council, chaired by Union Finance Minister Nirmala Sitharaman, made multiple key announcements on Saturday. The council also agreed to impose a uniform 18 per cent tax rate on used cars, including electric vehicles, purchased by businesses. Additionally, the council decided to lower the tax rate on fortified rice kernels from 18 per cent to …

GST Council meets to decide on lower taxes on insurance policies, ATF inclusion
Trending News
2 weeks, 5 days ago

GST Council meets to decide on lower taxes on insurance policies, ATF inclusion

Deccan Chronicle  

Jaisalmer: The 55th GST Council meeting which is expected to decide on reducing the tax rate on health and life insurance, besides considering rate rejigs on 148 items began here on Saturday. However, 18 per cent GST will continue on premiums paid for policies with health insurance cover of over Rs 5 lakh. The four-tier tax slab of 5, 12, …

Insurance, plane fuel might get cheaper as GST Council mulls lowering taxes
2 weeks, 5 days ago

Insurance, plane fuel might get cheaper as GST Council mulls lowering taxes

Hindustan Times  

The 55th GST Council meeting which is expected to decide on reducing tax rate on health and life insurance, besides considering rate rejigs on 148 items began here on Saturday. However, 18 per cent GST will continue on premiums paid for policies with health insurance cover of over ₹5 lakh. The four-tier tax slab of 5, 12, 18 and 28 …

55th GST Council Meeting: Raises tax on used car sales; postpones debates on insurance, 'sin' products
2 weeks, 6 days ago

55th GST Council Meeting: Raises tax on used car sales; postpones debates on insurance, 'sin' products

New Indian Express  

The 55th Goods and Services Tax Council meeting, held in Jaisalmer, Rajasthan, under Finance Minister Nirmala Sitharaman on Saturday, deferred discussions on the much-anticipated proposal to restructure GST on insurance premiums. The GST Council also postponed discussions on the widely discussed rate rationalisation for various consumer items, including so-called ‘sin’ products. Under the current GST framework, e-commerce platforms face specific …

GST Council to decide on cutting taxes on insurance premium, rate rejig on host of items
2 weeks, 6 days ago

GST Council to decide on cutting taxes on insurance premium, rate rejig on host of items

The Hindu  

The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, while hiking it on high-end wrist watches, shoes and apparels, besides considering a separate 35% tax slab for sin goods. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising State counterparts, …

Proposed GST slab of 35 percent is a deterrent for growth
3 weeks, 1 day ago

Proposed GST slab of 35 percent is a deterrent for growth

Deccan Chronicle  

The Government brought in historic tax reforms with the introduction of the Goods and Services tax in 2017, promoting simplicity, while reducing the tax burden. As per media reports, the Group of Ministers on GST Rates Rationalisation has recently proposed a new slab of GST at 35% over and above the existing 4 slabs to products such as aerated drinks …

Levy a higher GST rate on tobacco, sugared beverages
3 weeks, 3 days ago

Levy a higher GST rate on tobacco, sugared beverages

The Hindu  

Over the past seven years, since the introduction of the Goods and Services Tax, there have been no significant increases in GST rates on harmful products such as tobacco and sugar-sweetened beverages, except for two minor hikes in National Calamity Contingent Duties on tobacco. Balancing GST and excise taxes Another key issue is the reliance on GST, a purely ad …

Retailers urge FM and GST Council not to go for higher 35 pc tax rate
4 weeks ago

Retailers urge FM and GST Council not to go for higher 35 pc tax rate

Live Mint  

New Delhi, Dec 12 Indian Sellers Collective, an umbrella body of trade associations and sellers across the country, has urged the finance minister and the GST Council not to accept some of GST rate rationalisation suggestions, including the proposal for inclusion of a special rate of 35 per cent on some products. The sellers body is of the view that …

ITC, Godfrey Phillips, Varun Beverages shares slip on report of likely GST hike on cigarettes, tobacco, aerated drinks
1 month ago

ITC, Godfrey Phillips, Varun Beverages shares slip on report of likely GST hike on cigarettes, tobacco, aerated drinks

Live Mint  

Share prices of cigarette makers ITC, Godfrey Phillips and VST Industries along with Varun Beverages declined on Tuesday after reports suggested that the tax slab on ‘sin goods’ is likely to be hiked. Varun Beverages share price plunged as much as 5.18%, ITC stock price declined 3%, Godfrey Phillips India shares declined as much as 3.16%, while VST Industries stock …

GoM proposes GST hike: Cigarettes, tobacco, aerated beverages may be hiked to 35%; GST Council decision on Dec 21
1 month ago

GoM proposes GST hike: Cigarettes, tobacco, aerated beverages may be hiked to 35%; GST Council decision on Dec 21

The Hindu  

The GoM on GST rate rationalisation on Monday decided to hike tax on sin goods like aerated beverages, cigarettes, tobacco and related products to 35% from the present 28%, an official said. In total, the GoM on rate rationalisation will propose tax rate tweaks on 148 items to the GST Council. The four-tier tax slab of 5, 12, 18, and …

GST Council Considers Steep 35% Hike On Cigarettes, Tobacco Products
Trending News
1 month ago

GST Council Considers Steep 35% Hike On Cigarettes, Tobacco Products

ABP News  

The Group of Ministers on Goods and Services Tax rate rationalisation has proposed significant changes to tax rates, including a hike on sin goods like aerated beverages, cigarettes, and tobacco products, increasing the tax to 35 per cent from the current 28 per cent. Under the proposed structure: Readymade garments costing up to Rs 1,500 will attract 5 per cent …

GST on cigarettes, tobacco, aerated drinks may rise to 35%: Report
1 month, 1 week ago

GST on cigarettes, tobacco, aerated drinks may rise to 35%: Report

India Today  

The Group of Ministers on GST rate rationalisation has proposed increasing the tax on products such as aerated beverages, cigarettes, and other tobacco-related items to 35%, up from the current rate of 28%, reported news agency PTI. GST RATE CHANGES DISCUSSED The GoM, led by Bihar Deputy Chief Minister Samrat Choudhary, met on Monday to finalise the proposed rate adjustments. …

GST on cigarettes, tobacco, aerated beverages may rise to 35 per cent, GST Council to take final call
Trending News
1 month, 1 week ago

GST on cigarettes, tobacco, aerated beverages may rise to 35 per cent, GST Council to take final call

India TV News  

The Group of Ministers on GST rate rationalisation, led by Bihar's Deputy Chief Minister Samrat Chaudhary, has decided to increase the tax on "sin goods" such as aerated beverages, cigarettes, tobacco, and related products to 35% from the current 28%. The four-tier tax slab of 5, 12, 18, and 28 per cent will continue and a new rate of 35 …

GST on cigarettes, tobacco, aerated beverages likely to be hiked: Here’s what we know
Trending News
1 month, 1 week ago

GST on cigarettes, tobacco, aerated beverages likely to be hiked: Here’s what we know

Live Mint  

The Group of Ministers on Monday, December 2 decided to hike the rate of goods and service tax charged on goods like aerated beverages, cigarettes, tobacco and related products to 35 per cent, from its current level of 28 per cent, reported the news agency PTI citing an official aware of the development. The four-tier tax slab of 5, 12, …

Up to 75 pc of GST revenue comes from 18 pc slab: MoS Finance
1 month, 1 week ago

Up to 75 pc of GST revenue comes from 18 pc slab: MoS Finance

Deccan Chronicle  

New Delhi: About 70-75 per cent of GST revenues collected in 2023-24 fiscal year came from the 18 per cent slab, while just 5-6 per cent came from the 12 per cent bracket, Parliament was informed on Monday. The average GST rate has fallen below the revenue neutral rate of 15.3 per cent, prompting the need to start discussions on …

GST Council To Meet In Jaisalmer On Dec 21; Key Decisions On Insurance And Rate Cuts Likely
1 month, 3 weeks ago

GST Council To Meet In Jaisalmer On Dec 21; Key Decisions On Insurance And Rate Cuts Likely

ABP News  

The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman, is scheduled for December 21 in Jaisalmer, Rajasthan. The council, comprising state finance ministers, is expected to deliberate on major tax policy changes, including a decision on exempting or reducing GST rates on health and life insurance policies. Following discussions last month, the GoM has proposed …

GST rate rationalisation: GoM discusses pruning 12% slab, next meeting on October 20
3 months, 2 weeks ago

GST rate rationalisation: GoM discusses pruning 12% slab, next meeting on October 20

The Hindu  

The Group of Ministers on GST rate rationalisation has discussed tax rate tweaks on over 100 items, including lowering taxes on certain goods from 12% to 5%, to give relief to the common man, West Bengal Finance Minister Chandrima Bhattacharya said on Thursday, September 26, 2024. She said items used by the common man should attract lower tax rates and …

GST Council Meeting: what is cheaper and costlier
3 months, 4 weeks ago

GST Council Meeting: what is cheaper and costlier

The Hindu  

The 54th GST Council meeting, held in New Delhi on Monday announced several changes to the existing Goods and Services Tax slabs. The Council decided to reduce the GST rate on cancer drugs Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 12% to 5%. Namkeens, or savoury snacks, will also become cheaper after the GST on extruded/expanded savoury food products is reduced …

GST Council meets today to discuss rate rationalisation, tax on insurance
4 months ago

GST Council meets today to discuss rate rationalisation, tax on insurance

New Indian Express  

MUMBAI: The GST Council will be meeting later on Monday to discuss an array of important issues, including the much-discussed GST rate on life and health insurance policies. The meeting may also discuss rationalisation of rate structure under the GST. As per sources, the Council may also announce extending the GST amnesty scheme for another year—FY21. In addition to these …

A fresh start: On the Goods and Services Tax Council meet
6 months, 1 week ago

A fresh start: On the Goods and Services Tax Council meet

The Hindu  

The Goods and Services Tax Council was convened last week for the first time in nearly nine months. Apart from several industry-specific measures, a few of which will kick in with retrospective effect, the Council also opted to waive interest and penalty on tax dues for the first three years of GST, provided they are paid by March 2025. Beyond …

53rd GST Council Meet Tomorrow: What's The Key Expectations?
6 months, 2 weeks ago

53rd GST Council Meet Tomorrow: What's The Key Expectations?

Live Law  

About Eight and a half months after its previous meeting, the Center has decided to call a meeting of the Goods and Services Tax Council on June 22, 2024.Although the meeting's agenda is yet unknown, state finance ministers should bring forth ideas for an indirect tax system that might be included in the Union Budget, which is anticipated to be …

Next government must urgently fix ‘unnecessarily complex’, counter-productive GST: 13th Finance Commission chair
9 months ago

Next government must urgently fix ‘unnecessarily complex’, counter-productive GST: 13th Finance Commission chair

The Hindu  

A key architect of India’s tax reforms and the chairman of the Thirteenth Finance Commission Vijay Kelkar has called upon the country’s next government to undertake urgent reforms in the “unnecessarily complex” Goods and Services Tax regime, such as switching to a single tax rate of 12% and sharing revenues with local governments and municipal corporations. Stating that a single …

GST Council Meet: Tax on millet flour preparation slashed to 5% from 28%
1 year, 3 months ago

GST Council Meet: Tax on millet flour preparation slashed to 5% from 28%

Live Mint  

The Goods and Services Tax Council on Saturday, October 7, decided to slash tax on millet flour food preparations from the current 18 per cent GST to 5 per cent, in an aim to make nutritious food items more accessible to the public. Addressing a post-meeting press conference, Finance Minister Nirmala Sitharaman said that the food preparation of millet flour …

Rationalisation in GST rates should be implemented gradually: Vivek Johri
1 year, 5 months ago

Rationalisation in GST rates should be implemented gradually: Vivek Johri

Live Mint  

Vivek Johri has indicated that any potential changes to Goods and Services Tax rates will require careful consideration and may need to be implemented gradually. The chairman of the Central Board of Indirect Taxes and Customs, in an interview with Moneycontrol, emphasised the importance of revenue efficiency and suggested that rate rationalisation should be approached cautiously to ensure the stability …

Cement To Get Cheaper In June? GST Council Likely To Take Up The Matter; Details Here
1 year, 7 months ago

Cement To Get Cheaper In June? GST Council Likely To Take Up The Matter; Details Here

News 18  

GST On Cement: The GST Council, which is chaired by the Union finance minister and comprises representatives of all states and UTs, may discuss the reduction in GST rates on cement to 18 per cent in its next meeting scheduled for mid-June, ET Now has reported. Earlier, CBIC Chairperson Vivek Johri has said the fitment committee — which studies the …

GST Council may take call on online game tax
2 years ago

GST Council may take call on online game tax

Deccan Chronicle  

NEW DELHI: The Goods and Services Tax Council, which is scheduled to meet on December 17, is likely to discuss a host of issues that have arisen following the recommendations of the GST fitment panel. “The Council may also discuss certain tax rate changes for various sectors like textile, insurance among others, but a rate cut in the tax on …

Myths being spread on GST: FM in Parliament
2 years, 5 months ago

Myths being spread on GST: FM in Parliament

Hindustan Times  

In an attempt to “bust the myths” around the Goods and Services Tax raised by the Opposition in the Rajya Sabha, finance minister Nirmala Sitharaman on Tuesday listed out some of the essential items on which the government levies no GST and also those whose prices decreased under the unified tax regime. The minister, during the price rise debate that …

GST on Curd, Lassi, Other Items from July 18: What Becomes Cheaper, What Becomes Dearer?
2 years, 6 months ago

GST on Curd, Lassi, Other Items from July 18: What Becomes Cheaper, What Becomes Dearer?

News 18  

Towards the end of June, the GST Council chaired its 47th meet under the leadership of finance minister Nirmala Sitharaman, where a slew of decisions were taken regarding the levy of Goods and Service Tax on various items. – The GST Council also decided to bring hotel rooms under Rs 1,000 per day under the 12 per cent GST slab, …

Highest 28% GST on luxury, sin goods to continue: Revenue Secy
2 years, 6 months ago

Highest 28% GST on luxury, sin goods to continue: Revenue Secy

Deccan Chronicle  

New Delhi: The government intends to continue with the top GST slab of 28 per cent for luxury and sin goods, but is open to discuss narrowing down the three slabs of 5, 12 and 18 per cent into two, Revenue Secretary Tarun Bajaj said on Monday. Addressing the industry leaders, Bajaj said the rate rationalisation exercise of the GST …

Highest 28% GST on luxury, sin goods to continue: Revenue Secretary Tarun Bajaj
2 years, 6 months ago

Highest 28% GST on luxury, sin goods to continue: Revenue Secretary Tarun Bajaj

India TV News  

Highlights We will have to wait for some time, Bajaj said on bringing petroleum products under GST As per an RBI study, the weighted average tax rate under the GST has come down to 11.6% At the time of its launch, it was at 14.4% The top GST slab of 28 per cent for luxury and sin goods would continue, …

Explained | What is next on the agenda for the GST regime?
2 years, 6 months ago

Explained | What is next on the agenda for the GST regime?

The Hindu  

The story so far: The Goods and Services Tax Council, chaired by Union Finance Minister Nirmala Sitharaman, met for the first time in 2022 for a marathon two-day meet this week, just ahead of GST’s fifth birthday on July 1. Based on recommendations made by a Group of Ministers led by Karnataka Chief Minister Basavaraj Bommai, the GST Council has …

GST new rates: Check full list of goods, services that get costlier, cheaper
2 years, 6 months ago

GST new rates: Check full list of goods, services that get costlier, cheaper

Live Mint  

The 47th GST council meeting was held under the chairmanship of Union finance minister Nirmala Sitharaman on Wednesday, during which, approval for changes in tax rates was given for several goods and services. Check what will get costlier in the coming month: Goods/Services Older rate New rate Printing, writing or drawing ink 12% 18% Knives, pencil sharpners, blades, forks, spoons, …

GST Council Likely To Discuss Changes In Tax Rates On 14 Items, Ease Compliance
2 years, 6 months ago

GST Council Likely To Discuss Changes In Tax Rates On 14 Items, Ease Compliance

News 18  

The GST Council, which is scheduled to meet next week in Chandigarh, is likely to discuss changes in tax rates on 14 items recommended by the Fitment Committee, according to a CNBC-TV18 report. The fitment panel, which comprises officers from the Centre and states, has recommended a hike in GST rate on cut and polished diamonds to 1.5 per cent …

GST: What are the four different tax slabs under it
2 years, 6 months ago

GST: What are the four different tax slabs under it

Live Mint  

The Goods and Service Tax came into effect in India on July 1, 2017. GST structure in India has different slab rates that are applicable for different types of goods. 5 percent slab Some goods and services that fall under this category include tea, coffee, fertilizers, restaurant food, newspaper 12 percent slab Dry fruits, fruit juices, ghee, pen ink, milk …

GST On 143 Items May Increase: Handbags, Deo, Chocolate Prices To See Hike Next Month?
2 years, 8 months ago

GST On 143 Items May Increase: Handbags, Deo, Chocolate Prices To See Hike Next Month?

News 18  

Even as the prices of key commodities in India are already facing upward pressures, the GST Council is now reported to have sought the views of states for increasing rates on 143 items. Items such as papad and gur might be shifted from zero to the 5 per cent GST slab. GST: Slab Changes Meanwhile, according to reports, the GST …

GST rate slabs to be changed? All you need to know
2 years, 8 months ago

GST rate slabs to be changed? All you need to know

India Today  

A group comprising ministers from states is yet to finalise a report on rationalisation of Goods and Services Tax rates and a decision will be taken in due course, according to a PTI report. However, a three per cent tax is levied on gold and gold jewellery. Luxury items come under the highest tax bracket of 28 per cent. Along …

GST: Council May Do Away With 5% Slabs In Meet Next Month; Know In Details
2 years, 8 months ago

GST: Council May Do Away With 5% Slabs In Meet Next Month; Know In Details

News 18  

The GST Council in its meeting next month may consider a proposal to do away with the five per cent slab by moving some goods of mass consumption to three per cent and the remaining to eight per cent categories, news agency PTI reported. The Council may also decide to prune the list of exempt items by moving some of …

5 per cent GST rate may give way for 3%, 8% slabs
2 years, 8 months ago

5 per cent GST rate may give way for 3%, 8% slabs

Deccan Chronicle  

New Delhi: With most states on board to raise revenue so that they do not have to depend on Centre for compensation, the GST Council at its meeting next month is likely to consider a proposal to do away with the 5 per cent slab by moving some goods of mass consumption to 3 per cent and the remaining to …

GST Council may do away with 5% rate, move items to 3% & 8% slabs
2 years, 8 months ago

GST Council may do away with 5% rate, move items to 3% & 8% slabs

India TV News  

Highlights GST Council may to do away with the 5 per cent slab Goods of mass consumption may be moved to 3 per cent, remaining to 8 per cent categories Currently, GST is a four-tier structure of 5, 12, 18 and 28 per cent With most states on board to raise revenue so that they do not have to depend …

GST: Govt Plans To Reduce Slabs; Tax To Increase On Goods And Services?
2 years, 8 months ago

GST: Govt Plans To Reduce Slabs; Tax To Increase On Goods And Services?

News 18  

The government is planning to raise the goods and services tax over the next two years and reduce the number of slabs, according to an FE report quoting sources. This may help the government raise tax collections and reduce inflation which is already at a 17-month high of 6.95 per cent. Currently, the GST system has four slabs — 5 …

GST Lowest Slab May Increase to 8% Soon; Your Monthly Budget to Rise
2 years, 9 months ago

GST Lowest Slab May Increase to 8% Soon; Your Monthly Budget to Rise

News 18  

The Goods and Services Tax Council in its next meeting might raise the lowest tax slab to 8 per cent, from 5 per cent, according to a report. As the GST Council looks to raise revenues and do away with states’ dependence on the Centre for compensation, the tax body in its next meeting may look at raising the lowest …

Revive tax increases, stub out tobacco product use
2 years, 10 months ago

Revive tax increases, stub out tobacco product use

The Hindu  

Despite a relatively high degree of societal attention and debate spurring on the pace of COVID-19 vaccine development, the novel coronavirus pandemic has continued to remain a serious public health concern worldwide. Lost opportunity In short, there has been no significant tax increase on any tobacco product for four years in a row which is quite unlike the pre-GST years …

GST: Move to raise lowest slab to 8%
2 years, 10 months ago

GST: Move to raise lowest slab to 8%

Deccan Chronicle  

New Delhi: Looking for various ways to augment revenue for the states and reduce their dependence on the Centre for compensation, the GST Council, in its forthcoming meeting, is likely to push for raising the lowest tax slab to 8 per cent from 5 per cent currently. Besides, luxury and sin goods attract cess on top of the highest 28 …

GST Council may consider proposal to raise lowest slab to 8 pc, rationalise tax slabs
2 years, 10 months ago

GST Council may consider proposal to raise lowest slab to 8 pc, rationalise tax slabs

India TV News  

Highlights A panel of state finance ministers is likely to submit its report by this month end The report will suggest various steps to raise revenue Currently, GST is a four-tier structure attracting a tax rate of 5, 12, 18 and 28 per cent The GST Council in its next meeting may look at raising the lowest tax slab to …

Garments, footwear may become costlier
3 years, 3 months ago

Garments, footwear may become costlier

Hindustan Times  

Garments and footwear may become costlier from January 1 as plans are afoot to hike GST on them from 5% to 12% to correct the existing inverted duty structure, two people aware of the development said requesting anonymity. The GST Council had on September 17 announced its decision to correct the duty inversion on textiles and footwear value chain from …

GST Council meeting on Friday; tax concession to 11 COVID drugs, bringing petrol and diesel under GST on cards
3 years, 3 months ago

GST Council meeting on Friday; tax concession to 11 COVID drugs, bringing petrol and diesel under GST on cards

Firstpost  

Tax rate on Amphotericin B, Tocilizumab was cut to ‘Nil’, while Remdesivir and Heparin was reduced to five percent in June 2021. New Delhi: The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on Friday, which among other things may review tax rate of over four-dozen items and extend till 31 December, tax concessions on 11 COVID drugs. …

Centre in favour of merging two tax brackets in GST
3 years, 10 months ago

Centre in favour of merging two tax brackets in GST

Hindustan Times  

The central government is in favour of merging the goods and services tax rates of 12% and 18% into a single slab, a top finance ministry official said, acceding to a demand first made by some states and endorsed by the Fifteenth Finance Commission. “Restoring revenue-neutral rate will mean merging the rates of 12% and 18% and operating with a …

Union Budget 2021: Upswing of economy depends on revival of MSME sector; govt needs to remove bottlenecks
3 years, 11 months ago

Union Budget 2021: Upswing of economy depends on revival of MSME sector; govt needs to remove bottlenecks

Firstpost  

As India navigates its way from a phase of unprecedented turbulence with grit and resilience, all expectations hinge on a stellar Budget that is expected to serve as a blueprint for economic recovery, augment trade facilitation measures and align with the prime minister’s avowed objective of converting adversities to opportunities. Furthermore, measures to ensure an expeditious and glitch-free migration to …

GST on cellphones, footwear, textiles to be rationalised on March 14
4 years, 9 months ago

GST on cellphones, footwear, textiles to be rationalised on March 14

India TV News  

The GST Council is likely to rationalise tax rates on five sectors, including mobile phones, footwear and textiles, and defer implementation of the new return filing system and e-invoicing in its meeting on March 14. "The Council would discuss rationalisation of GST rate in sectors which see duty inversion, leading to high input credit refund claims," an official told PTI. …

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