Ahead of GST Council meet, fitment panel rejects tax rate cut for auto, biscuits; favours relief for hotel industry
5 years, 3 months ago

Ahead of GST Council meet, fitment panel rejects tax rate cut for auto, biscuits; favours relief for hotel industry

Firstpost  

New Delhi: Ahead of the crucial GST Council meeting on Friday, a committee of officials has rejected demands for a cut in tax rate on items ranging from biscuits to car owing to tight revenue position as any reduction will dent Centre and State collections. However, the Committee was of the view that the rate cut would hurt the collection as auto sales contribute almost Rs 50,000-60,000 crore to the total GST kitty. The Committee also rejected the telecom ministry’s proposal to reduce GST rate for telecom services from the present 18 percent to 12 percent, sources said. According to the sources, States are aware that it would not be tax prudent to allow GST rate cut at this stage as the compensation cess fund which is utilised to compensate States as per the GST Act, in case the revenue is below the targeted growth rate, has turned negative.

Compensation States Council Committee Rate Gst Gst Council Gst Rate Tax Rate 18 Percent  compensation  hotel  fitment  rs  gst  meet  reduction  18  committee  tax  panel  sources  rejects  relief  industry  states  rate

History of this topic

How will sale of used cars will be taxed under new GST rules? A simple guide
2 weeks ago

How will sale of used cars will be taxed under new GST rules? A simple guide

Hindustan Times  

The GST Council has recommended an increased 18% tax rate on the margin figure of used car sales which includes all electric vehicles, along with specified petrol and diesel cars. Cars which have a lower engine capacity and also a lower length as mentioned in the provisions will be taxed only at 12% GST which is the current rate. Full …

GST on used vehicles apply differently on businesses
2 weeks, 1 day ago

GST on used vehicles apply differently on businesses

Live Mint  

New Delhi: The Goods and Services Tax on used vehicles will depend on the selling enterprise’s nature of business, officials and experts clarified. The GST Council last week recommended harmonizing the tax rate on used cars at 18%, which meant the rate for used small cars, including electric vehicles moved up from 12%. The Council’s decision to prescribe a single …

Towards a simple and rational GST
2 weeks, 4 days ago

Towards a simple and rational GST

Hindustan Times  

Social media went pop over popcorn on Saturday, sharing details on the differential Goods and Services Tax rates on variants. But, two larger issues with India’s indirect tax regime need to be promptly addressed. The window for the rationalisation of the tax slabs has been extended, and it isn’t clear whether this will even happen The first has to do …

GST on some used vehicles increased for businesses, read what it means
2 weeks, 4 days ago

GST on some used vehicles increased for businesses, read what it means

Op India  

On Saturday, the Goods and Services Tax Council decided to make the GST on used cars uniform for businesses. As per the new rule, the GST payable for the purchase and sale of all kinds of used cars will be 18%, which was earlier 12% for some categories of cars. The GST on used cars has attracted strong opposition from …

GST Council's key decisions: What's cheaper, what's costlier, and all other details
2 weeks, 4 days ago

GST Council's key decisions: What's cheaper, what's costlier, and all other details

India Today  

The 55th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman on Saturday, introduced significant changes to the Goods and Services Tax framework. Several items and services will see a reduction in GST rates, offering financial relief: Fortified Rice Kernels : The GST rate on FRK has been reduced to 5% when supplied through the Public Distribution System. On …

GST Council exempts gene therapy, banks’ penal charges from tax; clarifies taxation of used vehicles, popcorns
2 weeks, 5 days ago

GST Council exempts gene therapy, banks’ penal charges from tax; clarifies taxation of used vehicles, popcorns

Live Mint  

Jaisalmer: India's indirect tax body has decided to exempt expensive cancer treatment gene therapy, penal charges levied by banks on loans, as well as rent paid by small businesses on property leased from individuals from the Goods and Services Tax, finance minister Nirmala Sitharaman told reporters after the GST Council meeting on Saturday. The focus on resolving long-standing disputes, such …

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 Delays Decision On Tax Reduction For Life, Health Insurance Premiums
Trending News
2 weeks, 5 days ago

GST Council Delays Decision On Tax Reduction For Life, Health Insurance Premiums

ABP News  

The GST Council on Saturday deferred its decision on reducing the tax rate on life and health insurance premiums, according to officials. The GoM also recommended exempting GST from health insurance premiums paid by individuals, excluding senior citizens, for policies with coverage up to Rs 5 lakh. However, premiums for health insurance policies offering coverage exceeding Rs 5 lakh will …

GST Council postpones decision to cut tax on life and health insurance
2 weeks, 5 days ago

GST Council postpones decision to cut tax on life and health insurance

Hindustan Times  

The GST Council on Saturday postponed a decision on cutting tax rate on life and health insurance premiums, officials said. Revenue Secretary Sanjay Malhotra attends a GST Council meeting with Union Finance Minister Nirmala Sitharaman at Vigyan Bhawan, in New Delhi. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, decided …

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 …

GST Council postpones decision to cut tax on insurance, rate panel defers report submission
Top News
2 weeks, 5 days ago

GST Council postpones decision to cut tax on insurance, rate panel defers report submission

The Hindu  

A GST Council meeting on Saturday postponed a decision on reducing taxes on health and life insurance, while the much talked-about GoM recommendation of rate rejig in 148 items was not tabled before the Council. “We will submit the GoM report on rate rationalisation in next meeting of Council,” said Mr. Chaudhary who is the convenor of the panel. The …

GST Council 55th Meeting in Jaisalmer: FM Nirmala Sitharaman to discuss potential revisions in insurance, aviation taxes
2 weeks, 5 days ago

GST Council 55th Meeting in Jaisalmer: FM Nirmala Sitharaman to discuss potential revisions in insurance, aviation taxes

Live Mint  

The 55th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman and including state finance ministers, will convene today, December 21, in Jaisalmer, Rajasthan. This pivotal gathering of the apex body for indirect taxes is expected to focus on significant rate changes for life and health insurance, luxury items, and the possible inclusion of aviation turbine fuel under the …

GST council defers decision on lowering insurance premium rates
2 weeks, 5 days ago

GST council defers decision on lowering insurance premium rates

New Indian Express  

JAISALMAR: The 55th GST Council meeting held on Saturday concluded without any major decisions being taken. The much-anticipated decision on reducing GST rates for health and life insurance premiums has been deferred, as the Council believes further discussions are required before moving forward. The Group of Ministers on insurance has recommended a complete waiver of GST on premiums paid towards …

55th GST Council Meeting: Raises tax on used car sales; postpones debates on insurance, 'sin' products
2 weeks, 5 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 …

Council may increase GST rate on all kinds of used cars to 18 per cent
2 weeks, 5 days ago

Council may increase GST rate on all kinds of used cars to 18 per cent

New Indian Express  

JAISALMER: The GST Council in its 55th meeting on Saturday is likely to announce changes in tax rates on several goods and services. As per sources, the fitment panel of the Council has decided to levy 18% GST on all kinds of used cars. The Council is likely to agree with the fitment panel’s recommendation and raise GST rate to …

GST Council postpones decision on reducing tax for life, health insurance premiums
2 weeks, 5 days ago

GST Council postpones decision on reducing tax for life, health insurance premiums

India TV News  

On Sunday, the GST Council, in its 55th meeting chaired by Union Finance Minister Nirmala Sitharaman, deferred the decision to cut taxes on life and health insurance premiums. Group of ministers to meet again for further discussions Bihar Deputy Chief Minister Samrat Chaudhary, who headed the Group of Ministers tasked with considering the issue, said a fresh meeting was needed …

55th GST Council Meeting begins: What could become costlier or cheaper today
2 weeks, 5 days ago

55th GST Council Meeting begins: What could become costlier or cheaper today

India Today  

The 55th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman, has brought together ministers from 28 states, two Union Territories, and key stakeholders to deliberate on sweeping tax reforms. FOOD DELIVERY PLATFORMS In a move to ease costs for food delivery services like Swiggy and Zomato, the GST rate may be reduced from 18% with input tax credit to …

GST Council Meeting: Will tax rates on health and life insurance premiums drop today?
2 weeks, 5 days ago

GST Council Meeting: Will tax rates on health and life insurance premiums drop today?

India Today  

The 55th GST Council meeting is expected to make significant decisions on tax rates for life and health insurance premiums. In its meeting last month, the GoM recommended exempting term life insurance premiums from GST, a proposal that has garnered support from several states. There is also a proposal to exempt GST on health insurance premiums of up to Rs …

GST council approves key reforms, defers decision on insurance premium tax cuts
2 weeks, 5 days ago

GST council approves key reforms, defers decision on insurance premium tax cuts

India TV News  

The Goods and Services Tax Council, chaired by Finance Minister Nirmala Sitharaman, made significant decisions in its 55th meeting, aimed at streamlining the taxation system and curbing tax evasion. Other exemptions and clarifications Third-Party Motor Vehicle Premiums: Contributions made by general insurance companies to the Motor Vehicle Accident Fund, established under the Motor Vehicles Act, 1988, have been exempted from …

Real estate developers urge government to reconsider 18% GST proposal on FSI, additional FSI under GST
2 weeks, 6 days ago

Real estate developers urge government to reconsider 18% GST proposal on FSI, additional FSI under GST

Hindustan Times  

Real estate developers have urged the government to reconsider the proposal of charging 18% Goods & Services Tax on floor space index and additional FSI charges paid to local authorities for realty projects. The pan-India developers’ body Credai has said that imposing GST on FSI charges could increase housing prices by 10% and adversely impact demand. In a letter addressed …

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 …

GST Council Meeting: Industry eyes tax relief on health insurance premiums, higher levies on luxury items
4 weeks ago

GST Council Meeting: Industry eyes tax relief on health insurance premiums, higher levies on luxury items

Live Mint  

Industry experts expect a reduction in GST rates on health insurance at the forthcoming GST Council meeting on December 21, 2024. However, if health insurance is exempted from GST for all or specified persons, the insurance companies would lose out on input tax credits to that extent and accordingly, the reduction in costs can be less than the amount of …

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 …

GST rate changes: Consult the public
1 month ago

GST rate changes: Consult the public

New Indian Express  

The “recommendations” symbolise a misalignment, the fault lines in the understanding of the state of the economy. While the GST Council has ceased publishing data on collections, news reports show that November saw gross GST collections, at Rs 1.82 lakh crore, growing at 8.5 percent. It is a moot point if the process of GST Council GoMs allows for representations, …

Wedding season blues: Garment makers caution against GST rate hike
Trending News
1 month ago

Wedding season blues: Garment makers caution against GST rate hike

Live Mint  

New Delhi: An increase in the goods and services tax rate on certain readymade garments, currently being discussed by a ministerial panel, could be a dampener for the ongoing wedding season, textile manufacturers said. ‘Big shocker’ Talking to Mint over the phone, Rahul Mehta, chief mentor of CMAI, which represents the readymade garment sector, expressed concern over the proposed 28% …

GST rate hike claims are ‘premature, speculative’
1 month ago

GST rate hike claims are ‘premature, speculative’

The Hindu  

The Central Board of Indirect Taxes and Customs on Tuesday dismissed reports indicating significant indirect tax rate changes and hikes on the Goods and Services Tax rates of various goods and services, as “premature and speculative”, and stressed that a ministerial group tasked with rationalising the multiple GST rates is yet to finalise its recommendations. While the GST Council, which …

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 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 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 Council to meet in Jaisalmer on Dec 21; may decide on insurance levy, rate rationalisation
1 month, 3 weeks ago

GST Council to meet in Jaisalmer on Dec 21; may decide on insurance levy, rate rationalisation

Deccan Chronicle  

New Delhi: The GST Council will meet on December 21 in Jaisalmer, in which the much-awaited decision on exemption or lower GST rate on health and life insurance is likely to be taken. The council, chaired by Union Finance Minister Nirmala Sitharaman and comprising her state counterparts, may also take up some rate rationalisation exercise and reduce tax rates on …

Sitharaman to meet state FMs for pre-Budget, GST Council meet on Dec 21-22
1 month, 4 weeks ago

Sitharaman to meet state FMs for pre-Budget, GST Council meet on Dec 21-22

Deccan Chronicle  

New Delhi: Union Finance Minister Nirmala Sitharaman is likely to meet her state counterparts on December 21-22 for pre-budget consultations and meeting of the GST Council, an official said.The meeting assumes significance as states finance ministers would present their recommendations for 2025-26 Budget to be unveiled on February 1, 2025. However, 18 per cent GST will continue on premiums paid …

Centre-state budget talks, GST Council meet after Parliament session jobs, growth, urban consumption in focus
2 months ago

Centre-state budget talks, GST Council meet after Parliament session jobs, growth, urban consumption in focus

Live Mint  

NEW DELHI : Finance minister Nirmala Sitharaman is set to consult state finance ministers on the FY26 Union Budget following Parliament’s winter session, which concludes on 20 December. That is a major policy instrument available now, provided states also agree," said N. R Bhanumurthy, director, Madras School of Economics, noting that while GST revenue hit ₹1.87 trillion in October—the second …

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 meeting: New GoM on health insurance to submit report by October; Council may take a call on 18% GST levy in November
4 months ago

GST Council meeting: New GoM on health insurance to submit report by October; Council may take a call on 18% GST levy in November

The Hindu  

To soothe the growing clamour for a reduction in the 18% tax levy on the premium paid for health and life insurance policies, the Goods and Services Tax Council on Monday set the stage for a possible rethink by mandating a stiff 50-day deadline for a new Group of Ministers to review the tax rate. The Council’s chair, Union Finance …

GST Council delays decision on insurance premiums to next meeting: Report
4 months ago

GST Council delays decision on insurance premiums to next meeting: Report

India Today  

The wait for relief on health insurance premiums just got a bit longer as the GST Council has postponed its decision to cut the Goods and Services Tax on health and life insurance. The GST Council meeting was expected to bring some relief to individuals, especially senior citizens, by reducing the GST rate applied to health insurance policies. The council …

GST Council lowers tax on cancer drugs to 5%, to finalise cuts on health and life insurance premiums
4 months ago

GST Council lowers tax on cancer drugs to 5%, to finalise cuts on health and life insurance premiums

New Indian Express  

MUMBAI: After much hue and cry over 18% GST on health and life insurance premiums, the GST Council in its 54th meeting on Monday reached a broad consensus on reducing taxes and decided to constitute a Group of Ministers to deliberate on the issue. In the meeting chaired by Finance Minister Nirmala Sitharaman, the GST Council also made several key …

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 …

​Enhancing oversight: The Hindu Editorial on the GST Council meet and issues
4 months, 1 week ago

​Enhancing oversight: The Hindu Editorial on the GST Council meet and issues

The Hindu  

The Goods and Services Tax Council, entrusted with overseeing the seven-year-old indirect tax regime, is slated to meet on September 9. The Council, whose parleys steered by the Union Finance Minister with States’ representatives are critical for resolving taxpayer challenges and setting broader policy direction, ought to meet regularly at such frequency. Beyond the broader revamp, the Council could also …

GST mop-up in July up 10.3% to Rs1.82 lakh crore
5 months, 1 week ago

GST mop-up in July up 10.3% to Rs1.82 lakh crore

Deccan Chronicle  

New Delhi: India’s gross goods and services tax collection in July recorded a 10.3 per cent rise to over Rs 1.82 lakh crore. Total refunds stood at Rs 16,283 crore in July and net GST collection was Rs 1.66 lakh crore, showing a growth of 14.4 per cent. “The gross revenues from domestic activities grew 8.9 per cent to Rs …

Union Budget 2024: GST Reform Boosts Trade And Reduces Tax Burden, Says FM
5 months, 2 weeks ago

Union Budget 2024: GST Reform Boosts Trade And Reduces Tax Burden, Says FM

ABP News  

Union Budget 2024: Finance minister Nirmala Sitharaman in her Budget speech in the Lok Sabha on Tuesday highlighted the positive impacts of the Goods and Services Tax. Presenting the Union Budget 2024-25 in Parliament, Sitharaman praised GST for decreasing the tax burden on the common man, reducing compliance obligations, and lowering logistics costs for trade and industry. Further measures to …

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 meeting: Co-living firms welcome proposal to exempt GST on accommodation services
6 months, 2 weeks ago

53rd GST Council meeting: Co-living firms welcome proposal to exempt GST on accommodation services

Hindustan Times  

Providing relief to students and working professionals, the GST Council has recommended exempting accommodation services having a value of supply up to ₹20,000 per person per month from goods and services tax. Providing relief to students and working professionals, the GST Council has recommended exempting accommodation services having a value of supply up to ₹ 20,000 per person per month …

GST on milk cans reduced from 18 percent to 12 percent, propagandists try to imply that a new tax has been introduced
6 months, 2 weeks ago

GST on milk cans reduced from 18 percent to 12 percent, propagandists try to imply that a new tax has been introduced

Op India  

On Saturday, June 22, Goods and Services Tax Council meeting took place where several key decisions were taken by the council. The Council… pic.twitter.com/FfUvl1Gi3d — Nirmala Sitharaman Office June 22, 2024 Shortly after the decision was announced, a social media narrative started to subtly push the agenda that a new 12% tax has been introduced on milk cans by Modi …

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