Gst Council

New GST rates to be introduced from 18 July: What gets costlier and what's cheaper?

Packaged food, bank cheques, and LED lamps and fixtures will attract more GST. A ropeway ride and orthopaedic alliances will become cheaper

Centre extends GST compensation cess levy till March 2026

The levy of cess was to end on 30 June but the GST Council decided to extend it till March 2026 to repay the loans taken in the last two fiscal years to make up for the shortfall in their revenue collection

GST Council may consider changes in monthly GST payment form

The move would help curb the menace of fake billing, whereby sellers would show higher sales in GSTR-1 to enable purchasers to claim input tax credit, but report suppressed sales in GSTR-3B to lower GST liability

GST Council may consider modification in monthly tax payment form for better input tax credit reporting

A meeting of the Goods and Services Tax (GST) Council, the highest decision making body in the GST matter, is likely to be held next month

Sushil Modi says Supreme Court verdict on Centre, states not bound to recommendations of GST council isn't new

Sushil Modi said the Centre and states have simultaneous powers to legislate on GST and the Constitution does not envisage a repugnancy provision. GST council must work in a harmonious manner to achieve a workable solution

Supreme Court says Centre, states not bound to recommendations of GST council

An apex court bench led by Justice DY Chandrachud held that the Parliament intended that the 'recommendations of the GST Council will have persuasive value as India is cooperative federalism'

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

A panel of state finance ministers is likely to submit its report by this month end to the Council suggesting various steps to raise revenue, including hiking the lowest slab and rationalising the slab.

How Union Budget 2022 is as practical an exercise as it is visionary

Union Budget 2022-23: This Budget sets out a vision, this one being for India in 2047. It is a direction this government has followed since May 2014

Relief for textile industry after GST Council defers decision to hike tax from 5% to 12%

States like Gujarat, West Bengal, Delhi, Rajasthan and Tamil Nadu had earlier said that they are not in favour of a hike in GST rate on textiles

Swiggy, Zomato to collect 5% GST from customers starting 1 Jan, 2021; here's how much you will have to pay

Nirmala Sitharaman made the announcement after the GST Council meeting, which has made the decision for ease in tax administration.