Gst Rate

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Gst Rate - Total results - 122
Parliamentary panel suggests lower GST rate, uniform road tax for auto sector until its revival
Business

Parliamentary panel suggests lower GST rate, uniform road tax for auto sector until its revival

A parliamentary panel had examined the Demands for Grants 2020-21 of Department of Heavy Industry (DHI) and tabled its report in Parliament

GST rate slabs likely to be restructured post-Budget; Centre, state govts to discuss new rates: Report
Business

GST rate slabs likely to be restructured post-Budget; Centre, state govts to discuss new rates: Report

As of now, there are four slabs under the GST regime — 5, 12, 18 and 28 percent. Goods and services under the 28 percent category also attract cess over and above the rate, which ranges between 1 and 25 percent.

India facing 'Great Slowdown', economy headed to ICU, says former CEA Arvind Subramanian
Business

India facing 'Great Slowdown', economy headed to ICU, says former CEA Arvind Subramanian

India is facing a "Great Slowdown" with its economy headed for intensive care unit primarily due to a "second wave" of the twin balance sheet crisis at banks, former Chief Economic Adviser Arvind Subramanian has said

GST Council to meet today as revenue shortfall looms large; FM seeks suggestions for raising rates, cess
Business

GST Council to meet today as revenue shortfall looms large; FM seeks suggestions for raising rates, cess

The GST Council will meet on Wednesday to review the taxation structure for shoring up the revenue as lower-than-expected collections has led to a delay in compensation payment to states

GST Council meets tomorrow to decide on tax moderation; industries seek relief amid economic slowdown
Business

GST Council meets tomorrow to decide on tax moderation; industries seek relief amid economic slowdown

Amid the clamour for a rate cut by various industries, the all-powerful GST Council will hold a crucial meeting on Friday to decide on tax moderation, keeping in mind the revenue position and the need to boost sagging economic growth

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

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

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

GST Council meets next Friday; tax rate cut to hinge on revenue position, says govt official
Business

GST Council meets next Friday; tax rate cut to hinge on revenue position, says govt official

The all-powerful GST Council will at its Goa meeting next week consider demands for reducing taxes on products ranging from cars to biscuits keeping in mind the revenue position as any cut will have a direct impact on earnings of states, a senior government official has said

Govt wants fair competition, will not encourage monopoly, says Telecom Minister Ravi Shankar Prasad to telco CEOs
Business

Govt wants fair competition, will not encourage monopoly, says Telecom Minister Ravi Shankar Prasad to telco CEOs

Telecom minister met CEOs of telecom companies including Bharti Airtel, Reliance Jio, Vodafone Idea and state-owned Bharat Sanchar Nigam Ltd

Auto sector slowdown: Component makers are holding a mirror to the economy, reflection isn’t pretty
Business

Auto sector slowdown: Component makers are holding a mirror to the economy, reflection isn’t pretty

For eight months straight, auto sales have been slowing across products and verticals—both passenger and commercial

GST Council meet today: E-vehicles tax cut should at least be 7%; awareness needed like govt campaigns for Swachh Bharat, say sector experts
Business

GST Council meet today: E-vehicles tax cut should at least be 7%; awareness needed like govt campaigns for Swachh Bharat, say sector experts

The GST council, chaired by Finance Minister Nirmala Sitharaman, will meet today and decide on lowering tax rates for electric vehicles

Service providers with turnover of up to Rs 50 lakh may now opt for GST composition scheme till 31 July
Business

Service providers with turnover of up to Rs 50 lakh may now opt for GST composition scheme till 31 July

The tax department has extended by three months till 31 July the deadline for service providers with a turnover of up to Rs 50 lakh to opt for the composition scheme and pay six percent goods and services tax (GST)

GST rate cut: Latest round of reduction makes real estate sector very reasonable, simple for home buyers
Business

GST rate cut: Latest round of reduction makes real estate sector very reasonable, simple for home buyers

In this backdrop, a GST rate of 18 percent with a 33 percent abatement for the value of the land, leading to an effective rate of 12 percent was considered very high.

GST Council to consider 5% tax on under-construction homes in its meeting next month
Business

GST Council to consider 5% tax on under-construction homes in its meeting next month

The GST Council is likely to consider lowering GST on under-construction flats and houses to 5 percent in its meeting next month

Narendra Modi says govt working to bring 99% things, including almost all items used by common man, in 18% GST slab
Business

Narendra Modi says govt working to bring 99% things, including almost all items used by common man, in 18% GST slab

Indicating that further simplification of the Goods and Services Tax is on the anvil, Prime Minister Narendra Modi, ahead of the Lok Sabha elections of 2019, said that his government wants to ensure that '99 percent things' attract sub-18 percent GST slab.

IMF says India can simplify GST structure without hurting the poor; changes won't compromise principle of progressivity
Business

IMF says India can simplify GST structure without hurting the poor; changes won't compromise principle of progressivity

A simpler GST structure will reduce compliance and administrative costs, which tend to burden smaller firms.

International Monetary Fund describes GST as 'milestone reform' in India's tax policy, pushes for simplified structure
Business

International Monetary Fund describes GST as 'milestone reform' in India's tax policy, pushes for simplified structure

IMF said GST has taken important step of unifying and harmonising numerous indirect taxes across all states of the federation and the central government

Auto components industry seeks uniform 18% GST on all products, says low taxation will lead to better compliance
Business

Auto components industry seeks uniform 18% GST on all products, says low taxation will lead to better compliance

Currently, 60 percent of the auto components attract 18 percent GST rate, while the rest 40 percent, the majority of which are two-wheelers, and tractor components attract 28 percent

GST cut on white goods: Consumer durable makers welcome move, say it will boost domestic manufacturing
Business

GST cut on white goods: Consumer durable makers welcome move, say it will boost domestic manufacturing

Consumer durable industry was demanding a lower GST rate on white goods since July last year, when GST was implemented.

Merit-based GST rate rationalisation possible in next council meet, says finance minister Piyush Goyal
Business

Merit-based GST rate rationalisation possible in next council meet, says finance minister Piyush Goyal

GST council, in its next meeting on 21 July, will discuss ease of filing returns as well as ease of assessment, finance minister Piyush Goyal said