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 per cent slab, and this cess collection is used to compensate states for the revenue loss arising from the GST rollout. When the GST regime was introduced on July 1, 2017, the Centre had agreed to compensate states for five years till June 2022, and protect their revenue at 14 per cent per annum over the base year revenue of 2015-16. It has been observed that over this five-year period, due to reduction in GST rates on several items, the revenue neutral rate has come down from 15.3 per cent to 11.6 per cent.

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History of this topic

Budget 2025: Salaried earners up to Rs 15 lakh may get tax relief. Details here
2 days, 9 hours ago

Budget 2025: Salaried earners up to Rs 15 lakh may get tax relief. Details here

India Today  

The upcoming Budget 2025-26 is likely to introduce significant tax benefits aimed at individuals earning up to Rs 15 lakh annually. BOOSTING SPENDING POWER AMID INFLATION The government’s focus appears to be on easing the burden on individuals earning Rs 13–14 lakh annually, especially in urban areas, where inflation has eroded purchasing power, according to sources. Experts believe that revising …

GST collection 2024: Congress alleges slowdown in GST collections; asks government to focus on complexities of economy
6 days, 23 hours ago

GST collection 2024: Congress alleges slowdown in GST collections; asks government to focus on complexities of economy

The Hindu  

The Congress on Friday claimed that the last quarter of the current fiscal year witnessed the “second-slowest pace” of collection of Goods and Services Tax in the past three years and urged the government to focus on the complexities of the economy instead of imposing tax on popcorn. Net GST growth slumps to 3.3% in December, as revenues slow and …

Net GST growth slumps to 3.3% in December, as revenues slow and refunds rise 45%
1 week, 1 day ago

Net GST growth slumps to 3.3% in December, as revenues slow and refunds rise 45%

The Hindu  

India’s gross Goods and Services Tax receipts increased at the second-slowest pace in 43 months in December, while growth in net GST collections, after adjusting for refunds, slumped to 3.3%, the weakest in financial year 2024-25. Editorial: ​Selective indecision | on the GST Council’s 55th meeting, decisions December’s gross GST inflows, for transactions undertaken in November, were a tad under …

GST collections rise 7.3 pc to Rs 1.77 lakh cr in December
Top News
1 week, 1 day ago

GST collections rise 7.3 pc to Rs 1.77 lakh cr in December

Deccan Chronicle  

New Delhi: Goods and Services Tax collections rose by 7.3% to ₹1.77 lakh crore in December, maintaining figures above the ₹1.7 lakh crore mark for the tenth consecutive month. While higher than the ₹1.65 lakh crore collected in December 2023, it fell short of the record ₹2.1 lakh crore achieved in April 2024, according to government data released on Wednesday. …

How much GST did Indians pay in December 2024? Govt data says...
1 week, 1 day ago

How much GST did Indians pay in December 2024? Govt data says...

Firstpost  

The Central GST collection accounted for Rs 32,836 crore, State GST for Rs 40,499 crore, Integrated GST for Rs 47,783 crore, and Cess for Rs 11,471 crore. The year-to-date GST collections now stand at Rs 16,33,569 crore India’s gross Goods and Services Tax revenue climbed 7.3 per cent year-on-year to Rs 1.77 lakh crore in December, according to government data …

Centre, states collect gross GST revenue of ₹1.76 trillion in December
Trending News
1 week, 1 day ago

Centre, states collect gross GST revenue of ₹1.76 trillion in December

Live Mint  

The Union and state governments collected gross Goods and Services Tax revenue of ₹1.76 trillion in December, the lowest in in three months, but showing an improvement of 7.3% from a year ago, official data showed. After adjusting for tax refunds, GST revenue collection stood at ₹1.54 trillion, showing annual growth of 3.3%. After refunds, GST revenue receipts in the …

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 Council's key decisions: What's cheaper, what's costlier, and all other details
2 weeks, 5 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 …

Congress slams Centre over 'absurd' popcorn tax slabs, asks PM to overhaul GST
2 weeks, 5 days ago

Congress slams Centre over 'absurd' popcorn tax slabs, asks PM to overhaul GST

India Today  

The Congress Sunday said the "absurdity" of three different tax slabs for popcorn under GST only brings to light the growing complexity of the system and asked whether the Modi government will show the courage to launch a complete overhaul for instituting a GST 2.0. Congress general secretary in-charge communications Jairam Ramesh also claimed GST evasion is significant, input tax …

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, 6 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, 6 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, 6 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 …

55th GST Council Meeting begins: What could become costlier or cheaper today
2 weeks, 6 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 to decide on cutting taxes on insurance premium, rate rejig on host of items
3 weeks 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 …

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 …

U.P.’s GST revenue grows 15%, surpassing national average
3 weeks, 3 days ago

U.P.’s GST revenue grows 15%, surpassing national average

Hindustan Times  

Uttar Pradesh has recorded impressive consumer spending trends, with a 15% growth in Goods and Services Tax revenue until November, surpassing the national average of 13%. U.P.’s GST revenue for the period reached ₹56,687 crore, up from ₹49,282 crore during the same period last year. are spending at levels comparable to, or in some cases higher than, residents of more …

Retailers urge FM and GST Council not to go for higher 35 pc tax rate
4 weeks, 1 day 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 …

Centre Shares Rs 6.42 Lakh Cr GST with States Till November
1 month ago

Centre Shares Rs 6.42 Lakh Cr GST with States Till November

Deccan Chronicle  

Chennai: The Centre has paid a total of Rs 6.42 lakh crore to states till November as their share of GST collections along with the compensation cess. The gross GST collections till November stood at Rs 14.56 lakh crore. At the end of November, the gross GST collected by the Centre stood at Rs 14.56 lakh crore. Of the gross …

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, …

CMAI Warns Of 100,000 Job Losses, MSME Closures Due To GST Hike On Apparel
1 month ago

CMAI Warns Of 100,000 Job Losses, MSME Closures Due To GST Hike On Apparel

ABP News  

The Clothing Manufacturers Association of India has raised concerns over the proposed GST rate rationalisation by the Group of Ministers, chaired by Bihar's Deputy Chief Minister Samrat Chaudhary. Under the new recommendations, ready-made garments priced up to Rs 1,500 will maintain the current 5 per cent GST rate, but those priced between Rs 1,500 and Rs 10,000 would face a …

Mind economy's interest before Revenue's: Sanjay Malhotra to tax officials
1 month ago

Mind economy's interest before Revenue's: Sanjay Malhotra to tax officials

Live Mint  

New Delhi: Cautioning tax officials to not kill the goose that lays the golden egg in the process of tax collection, revenue secretary Sanjay Malhotra told a gathering of officials that they need to be careful not to hurt the economy’s interests in the hunt for revenue. “This is a very positive development for the industry—it signals the government's intention …

Businesses Seek Higher GST Limit for Small Players
1 month ago

Businesses Seek Higher GST Limit for Small Players

Deccan Chronicle  

HYDERABAD: The business community sought raising of the GST registration threshold in the state from Rs 20 to Rs 40 lakhs in line with many other states, allowing small businesses to sell goods at lower prices without GST. In an interactive meeting on Goods and Services Tax organised by FTCCI, which was attended by commissioners from the state and central …

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

Punjab registers 63% jump in net GST collection: Harpal Singh Cheema
Trending News
1 month, 1 week ago

Punjab registers 63% jump in net GST collection: Harpal Singh Cheema

Hindustan Times  

Punjab finance, planning, excise and taxation minister Harpal Singh Cheema said on Sunday that the state witnessed 62.93% growth in net GST collection during November 2024 compared to the corresponding period last year. Punjab finance, planning, excise and taxation minister Harpal Singh Cheema said the total net collection from VAT, CST, GST, PSDT, and excise in November this year is …

GST mop-up fourth highest ever but red flags in laggard states
1 month, 1 week ago

GST mop-up fourth highest ever but red flags in laggard states

Hindustan Times  

The Goods and Services Tax revenue in November grossed over ₹1.82 lakh crore, the fourth highest monthly collection ever that also crossed the ₹1.80 lakh crore mark for the fifth time in 88 months since July 2017, despite major states such as Andhra Pradesh, Rajasthan and Chhattisgarh showing a dip in growth. The goods and services tax revenue in November …

Top News on Dec 1: GST collection rises, Andhra dissolves Waqf board, Kejriwal rules out alliance in Delhi polls, more
1 month, 1 week ago

Top News on Dec 1: GST collection rises, Andhra dissolves Waqf board, Kejriwal rules out alliance in Delhi polls, more

Live Mint  

From increase in GST collection to Andhra govt dissolving Waqf board to killing of 7 Maoists to Donald Trump picking loyalist Kash Patel as his new FBI director, here are today's top stories. GST collection for November rises by 8.5% to ₹ 1.82 lakh crore The goods and service tax collection for the month of November rose 8.5 per cent …

GST mopup surges 8.5 per cent to 1.82 lakh crore in November
1 month, 1 week ago

GST mopup surges 8.5 per cent to 1.82 lakh crore in November

Deccan Chronicle  

New Delhi: India's gross goods and service tax or GST mopup surged by 8.5 per cent to over Rs 1.82 lakh crore in November on year-on-year basis as compared to Rs 1.68 lakh crore in the same month last year. As per the data released by the finance ministry, the total gross GST revenue grew 8.5 per cent to over …

GST collection reports 8.5 per cent growth to Rs 1.82 lakh cr in November
Trending News
1 month, 1 week ago

GST collection reports 8.5 per cent growth to Rs 1.82 lakh cr in November

India TV News  

The gross Goods and Services Tax collections rose 8.5 per cent to over Rs 1.82 lakh crore in November on higher revenues from domestic transactions. The statement released by the government said the total gross Goods and Services Tax revenue grew 8.5 per cent to over Rs 1.82 lakh crore in November as compared to Rs 1.68 lakh crore in …

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 Revenue Trends: A Rollercoaster Ride of Ups and Downs
2 months ago

GST Revenue Trends: A Rollercoaster Ride of Ups and Downs

The Hindu  

GST revenue trends have been volatile this year, with growth in gross and net receipts exceeding that of the previous year's highest points, but falling short of the previous year's overall growth. While the year started with a strong surge in April, subsequent months have shown a decline in growth. The latest GST receipts indicate a positive trend, but it …

GST collections hit a 40-month low in September 2024
3 months, 1 week ago

GST collections hit a 40-month low in September 2024

The Hindu  

Growth in India’s Gross Goods and Services Tax collections slumped to a 40-month low of 6.5% in September, with revenues at ₹1,73,240 crore, about 1% lower than the tally in August. Gross domestic revenues were up 5.9% in September, with the uptick moderating 4.5% higher after adjusting for refunds, provisional numbers from the Central Board of Indirect Taxes and Customs …

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 …

Infosys gets ₹3,898 crore partial GST tax relief for FY 2017-18 out of the ₹32,403 crore tax notice for 2017-22
5 months ago

Infosys gets ₹3,898 crore partial GST tax relief for FY 2017-18 out of the ₹32,403 crore tax notice for 2017-22

Hindustan Times  

Infosys Ltd has been given a tax relief of ₹3,898 crore for the financial year 2017-18, the IT major wrote in a company filing to the exchanges on Saturday. Infosys Ltd has been given a tax relief of ₹ 3,898 crore for the financial year 2017-18 “The Company had received and responded to a pre-show cause notice issued by DGGI …

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 …

GST receipts’ growth rebounds to 10.3%; July kitty third-highest ever
5 months, 1 week ago

GST receipts’ growth rebounds to 10.3%; July kitty third-highest ever

The Hindu  

India’s Gross Goods and Services Tax collections hit their third-highest monthly level in July to cross ₹1.82 lakh crore, with revenue growth recovering to 10.3% from a three-year low of 7.6% in June. Gross revenue from domestic transactions grew 8.9% in July, easing from 9.4% recorded in June, but growth in taxes collected on imports bounced 14.2% from just 2.4% …

GST collections surge by 10.3 per cent in July, cross Rs 1.82 lakh crore mark
5 months, 1 week ago

GST collections surge by 10.3 per cent in July, cross Rs 1.82 lakh crore mark

India TV News  

Goods and Services Tax collections for July reached Rs 1,82,075 crore, marking a 10.3% year-on-year increase. 2024 year-to-date: Total GST collections have been Rs 7.38 lakh crore, up 10.2% from Rs 6.70 lakh crore in the same period of 2023. 2023–24 Fiscal year: Gross GST collections totalled Rs 20.18 lakh crore, an 11.7% increase from the previous fiscal year. The …

Government Set to Raise GST on Gold and Silver to 5%
5 months, 2 weeks ago

Government Set to Raise GST on Gold and Silver to 5%

Deccan Chronicle  

Chennai: The government is likely to increase the GST rate on gold and silver to 5 per cent from the current 3 per cent. The government has brought down the basic customs duty on gold bars from 15 per cent to 6 per cent and the Agriculture Infrastructure & Development Cess on duty has come down from 5 per cent …

Punjab sees 15% jump in tax revenue despite sluggish GST
5 months, 2 weeks ago

Punjab sees 15% jump in tax revenue despite sluggish GST

Hindustan Times  

Chandigarh : The Punjab government registered an increase of 15% year-on-year in its tax revenue in the first quarter of the financial year 2024-25. The Punjab government registered an increase of 15% year-on-year in its tax revenue in the first quarter of the financial year 2024-25 The impressive increase came on the back of improved state excise, sales tax and …

GST still far from simple: Arvind Subramanian
6 months ago

GST still far from simple: Arvind Subramanian

The Hindu  

Revenues from the seven-year old Goods and Services Tax had not lived up to expectations, having attained pre-GST levels only now, and the objective of a ‘Good and Simple Tax’ remains elusive, former Chief Economic Advisor Arvind Subramanian averred on Thursday, terming the lack of critical data such as refunds a challenge. Blaming the poor revenue performance to a “rate-cutting …

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 …

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 …

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