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
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 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
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
Economy is in intensive care with no quick relief in sight; can cutting personal tax, raising GST offer a magic cure?
Arvind Subramanian's speech at Bangalore does not really highlight any new issues.
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
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
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
Telecom minister met CEOs of telecom companies including Bharti Airtel, Reliance Jio, Vodafone Idea and state-owned Bharat Sanchar Nigam Ltd
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
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
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
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.
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
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
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
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
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
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
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