News Muncher - category gst

7 hours, 51 minutes ago

Caramel Popcorn Contains Added Sugar, Tax Rate Will Be Higher Than Namkeen, Clarifies GST Council

Live Law

The GST Council in its 55th Meeting chaired by Finance Minister Nirmala Sitharaman announced significant changes to the GST regime. Caramelised popcorn comes with added sugar therefore the tax rate for such a popcorn will be different from the Namkeen. It was further clarified that whether it is carbonated drink or juice with added sugar attracts a different tax rate. …

Tax Rate Gst Popcorn Tax Rate Namkeen

15 hours, 13 minutes ago

GSTR-9 simplified: Filing, features, deadlines and other details

India Today

GSTR-9 is the annual return to be filed by taxpayers registered under Goods and Services Tax, offering a comprehensive overview of sales, purchases, and the GST charged and paid during the financial year. GSTR-9 is mandatory for GST taxpayers with an aggregate annual turnover exceeding Rs 2 crore for the financial year 2023-2024. However, the following categories are exempt from …

Tax Filing Gst Taxpayers

15 hours, 13 minutes ago

Tax hike on used small car sales: Is the 'margin between original and resale price' calculation justified?

New Indian Express

The GST Council has approved a hike in the tax rate on used small cars, including electric vehicles, from 12 percent to 18 percent. Additionally, the revised tax rate applies only to registered dealers and individuals, but a significant portion of the used car market operates through unorganised or unregistered sellers. However, the GST hike may impact registered dealers, as …

Market Cars Price Small Cars Rate Gst Tax Hike

19 hours, 54 minutes ago

DC Edit | Rationalise GST in two slabs

Deccan Chronicle

The Goods and Services Tax Council meeting appears to have ended up as a no-event without taking any major decision. While on one hand the government advocates rationalisation of tax slabs, on the other, it proposed three different rates for popcorn based on its taste and packaging. Pre-packed and labelled salted and spicy, ready-to-eat popcorn will attract 12 per cent …

Tax Gst Caramel Popcorn Caramel Popcorn

Congress slams govt over different tax slabs for popcorn, asks if PM will show courage for GST overhaul

The Hindu

Exhorting the Narendra Modi government to show the courage to overhaul the Goods and Services Tax regime citing the “absurdity” of three different tax slabs for popcorn under the present system, the Congress on Sunday said the current complexities in the system had thrown open several loopholes leading to tax evasion. In a long post on X, Congress General Secretary …

Tax Congress Ramesh Gst Popcorn Different Tax Slabs

1 day, 8 hours ago

Arunachal committed to support GST reforms for economic growth: Deputy CM

The Hindu

Arunachal Pradesh Deputy Chief Minister Chowna Mein stated that the government is committed to support GST reforms for fostering economic growth and ease of compliance for all stakeholders in the State. Speaking at the 55th GST Council meeting at Jaisalmer in Rajasthan on Saturday, Mr. Mein, who also holds the Finance portfolio, said that the state government remained dedicated to …

Support Economic Growth State Meeting Gst Gst Council Mein

GST’s popcorn moment leaves everyone with bitter aftertaste

New Indian Express

The 55th GST Council meeting ended without any significant announcements. While it is true that with every passing year, the GST—once hailed as a good and simple tax—is becoming more complex, one cannot deny that tax rules, beyond a point, cannot be simple, howsoever hard one may try. The issue of the tax rate of Malabar parotta is yet to …

Tax Gst Tax Rules

1 day, 20 hours ago

GoM to Dwell on 1% State Calamity Cess Under GST Framework

Deccan Chronicle

Vijayawada: The 55th GST Council led by union finance minister Nirmala Sitaraman will constitute a Group of Ministers to consider permitting states to impose a calamity cess of one per cent on luxury goods under the Goods and Services Tax framework. Andhra Pradesh finance minister Payyavula Keshav came up with the proposal of levying one per cent calamity cess on …

State Gst Gom Cess Nirmala Sitaraman Cent Calamity

1 day, 23 hours ago

CREDAI expresses concern over proposed 18% GST on Floor Space Index premiums

The Hindu

The Confederation of Real Estate Developers’ Associations of India has expressed deep concerns over the government’s proposal to impose an 18% Goods and Services Tax on Floor Space Index and additional FSI premiums. The proposed GST on FSI premiums, they warned, could further escalate property prices by 7-10%, jeopardising affordable housing projects. “The proposed GST could make homeownership more expensive …

India Housing Tax Gst Premiums Itc Credai

2 days ago

55th GST council meeting in Jaisalmer on December 21, 2024: Finance Minister Nirmala Sitharaman media briefing

The Hindu

A much-anticipated review of the Goods and Services Tax levies on life and health insurance policies was put off by the apex body in charge of the indirect tax regime, the GST Council at its 55th meeting on Saturday, as some members sought more discussions on the matter before taking a final call. Moreover, rate rationalisation suggestions pertaining to about …

Tax Minister Sitharaman Gst Council Levies

2 days, 3 hours ago

Proposed GST hike for Kashmiri shawl will finish craft: Mehbooba Mufti

The Hindu

People’s Democratic Party supremo Mehbooba Mufti on Saturday said the proposed increase in GST for Kashmiri shawl would finish the craft and appealed to Jammu and Kashmir Chief Minister Omar Abdullah to address the issue. The former Chief Minister of the erstwhile State alleged efforts were being made to destroy Jammu and Kashmir by undertaking development work on horticulture land …

Kashmir Land Jammu Pdp Chief Gst Mehbooba

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 …

Insurance Tax Council Senior Citizens Cent Gst Premiums

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 Tax Council Cent Rate Gst 5 Per Cent

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 …

Insurance Tax Council Report Rate Gst Proposed

2 days, 15 hours 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 Gst Insurance Premiums Gst Council

4 days, 6 hours ago

Delhi HC Deprecates Practice Of GST Authorities Issuing 'Template Orders', Says Rejection Of Reply To SCN Must Be On Merits

Live Law

The Delhi High Court recently granted relief to a logistics company aggrieved by the decision of Assistant Commissioner, GST, rejecting its reply to a show cause notice by way of a 'template' order. where the final order passed by the GST department under Section 73 of the CGST Act came to be set aside for “perfunctorily” brushing aside the Assessee's …

High Court Order Gst Petitioner Reply Scn

4 days, 8 hours ago

Regulatory Measures Under GST Laws Necessary To Prevent Tax Evasion, Not Violative Of Fundamental Right To Trade: Calcutta High Court

Live Law

The Calcutta High Court has held that regulatory measures under the Goods and Services Tax Act cannot be labeled as violative of an assessee's right to trade/ business under Article 19 of the Constitution. Justice Rajarshi Bharadwaj reasoned that such regulatory measures are “necessary to ensure compliance and prevent tax evasion”. Such discrepancies undermined the accuracy of the petitioner's declarations, …

Trade High Court Constitution Tax Tax Evasion Gst Goods

4 days, 15 hours ago

CM Mohan Charan Majhi to attend GST, finance ministers' meet

New Indian Express

BHUBANESWAR : Chief Minister Mohan Charan Majhi will embark on a four-day visit to Delhi and Rajasthan beginning December 19 to attend the 55th meeting of the GST council to be held at Jaisalmer on December 21. The state government, which had asked for higher allocations of central funds to the state to accelerate infrastructure development at the last meeting …

State Majhi Minister Meet Meeting Gst Gom

5 days, 3 hours 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 …

India Tax Tobacco Products Sugar Gst Slab

5 days, 15 hours ago

Want a cruise vacation? Opt for IRCTC's lucrative packages, know how much it will cost for 1 night

India TV News

Spending a night amidst the waves of the sea may be your dream too. Varanasi Cruise Packages You can book the Varanasi cruise package from IRCTC. There are also deluxe cabins in this, in which if you book a ticket with two people, then the charge for this is 59,000 + 5% GST. Gupti, Dangamal and Hubli Khati Cruise Tour …

Varanasi Ticket Book Cabin Gst Night Two People

6 days, 23 hours 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 …

Growth Maharashtra Gujarat State Gst This Growth

1 week ago

How to calculate foreign currency conversion mark-up fees on credit cards?

Live Mint

If you carry a credit card from India while travelling abroad and use it at a merchant overseas, you should remember that you will be charged a conversion mark-up fee. This mark fee typically varies between 1.5 to 3.5 percent of the converted Indian currency. Banks typically charge a mark-up fee, which ranges between 1.5 to 3.5 per cent of …

India Credit Indian Credit Cards Fee Cards Indian Currency

1 week ago

Stocks to Watch: RIL, Vedanta, Lupin, RITES, Aurobindo Pharma, and more

Live Mint

Here’s a quick look at stocks likely to be in focus in today's trade. The company stated, “The Board of Directors of the Company is proposed to be scheduled on Monday, December 16, 2024, to consider and approve the Fourth Interim Dividend on equity shares, if any, for the Financial Year 2024-25.” If approved, the dividend issue date has been …

Project Gst Rites Vedanta Lupin

1 week ago

GCC starts discussions to exempt Councillors’ Ward Ddevelopment Fund from GST

The Hindu

The Greater Chennai Corporation has started discussions pertaining to the exemption for the Councillors’ Ward Development Fund from the Goods and Services Tax during the implementation of civic infrastructure projects in the city. Councillors have complained that they are not able to implement all the projects demanded by residents as 18% of the funds allocated under the fund went towards …

Projects Fund Ward Gst Dmk Councillors Implement

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Articles for Gst

Caramel Popcorn Contains Added Sugar, Tax Rate Will Be Higher Than Namkeen, Clarifies GST Council

GSTR-9 simplified: Filing, features, deadlines and other details

Tax hike on used small car sales: Is the 'margin between original and resale price' calculation justified?

DC Edit | Rationalise GST in two slabs

Congress slams govt over different tax slabs for popcorn, asks if PM will show courage for GST overhaul

Arunachal committed to support GST reforms for economic growth: Deputy CM

GST’s popcorn moment leaves everyone with bitter aftertaste

GoM to Dwell on 1% State Calamity Cess Under GST Framework

CREDAI expresses concern over proposed 18% GST on Floor Space Index premiums

55th GST council meeting in Jaisalmer on December 21, 2024: Finance Minister Nirmala Sitharaman media briefing

Proposed GST hike for Kashmiri shawl will finish craft: Mehbooba Mufti

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

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

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

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

Delhi HC Deprecates Practice Of GST Authorities Issuing 'Template Orders', Says Rejection Of Reply To SCN Must Be On Merits

Regulatory Measures Under GST Laws Necessary To Prevent Tax Evasion, Not Violative Of Fundamental Right To Trade: Calcutta High Court

CM Mohan Charan Majhi to attend GST, finance ministers' meet

Proposed GST slab of 35 percent is a deterrent for growth

Want a cruise vacation? Opt for IRCTC's lucrative packages, know how much it will cost for 1 night

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

How to calculate foreign currency conversion mark-up fees on credit cards?

Stocks to Watch: RIL, Vedanta, Lupin, RITES, Aurobindo Pharma, and more

GCC starts discussions to exempt Councillors’ Ward Ddevelopment Fund from GST