Tax Rates

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Tax Rates - Total results - 30
Tobacco farmers' body urges govt for 'pragmatic' approach on cigarette taxation; says NCCD hike in Budget to increase smuggling
Business

Tobacco farmers' body urges govt for 'pragmatic' approach on cigarette taxation; says NCCD hike in Budget to increase smuggling

NCCD on cigarettes proposed in the Budget is a major setback to the FCV tobacco farmers who have been fighting torrential and unseasonal rainfall this year in Andhra Pradesh and Karnataka

Budget 2020: Its time govt introduced forward-looking, simplified version of I-T Act; should focus on long overdue Direct Taxes Code
Business

Budget 2020: Its time govt introduced forward-looking, simplified version of I-T Act; should focus on long overdue Direct Taxes Code

On the side-lines of the Budget, the government should also focus on releasing the new Direct Taxes Code, which is long overdue.

Personal income tax slabs likely to be rationalised, salaried class may get relief, more money; move aims to boost spending
Business

Personal income tax slabs likely to be rationalised, salaried class may get relief, more money; move aims to boost spending

Introduction of 10% tax rate for salaried people who earn between Rs 5 lakh and Rs 10 lakh is one of the recommendations

Narendra Modi govt should spare a thought for salaried class; jump from 5% to 20% tax is grossest injustice to middle income group
Business

Narendra Modi govt should spare a thought for salaried class; jump from 5% to 20% tax is grossest injustice to middle income group

Apart from being unjust to the middle class, it is the steep rate of tax that tantalises people to split their income

GST Council cuts rates on 23 items, rationalises 28 percent slab; TVs, movie tickets and power banks get cheaper
Business

GST Council cuts rates on 23 items, rationalises 28 percent slab; TVs, movie tickets and power banks get cheaper

The annual revenue implication of the rate cuts would be Rs 5,500 crore, Finance Minister Arun Jaitley said.

Panel to redraft Income Tax Act to focus on removing ambiguities, unlikely to suggest rate changes
Business

Panel to redraft Income Tax Act to focus on removing ambiguities, unlikely to suggest rate changes

The task force set up to redraft Income Tax law will focus on removing the ambiguities, rather than suggesting dramatic policy changes and tweaking of tax rates, the panel's convenor Akhilesh Ranjan said on Tuesday

GST flip flops: Over 200 tweaks in country's biggest tax reform create confusion; small businesses still struggle
Business

GST flip flops: Over 200 tweaks in country's biggest tax reform create confusion; small businesses still struggle

The government has introduced many changes in GST which replaced more than a dozen central and state tariffs, duties and fees levied into a single tax.

Wipro chairman Azim Premji calls for lower tax rates, says collection is best achieved by voluntary compliance
Business

Wipro chairman Azim Premji calls for lower tax rates, says collection is best achieved by voluntary compliance

Under the topic increasing the tax base, Premji said it was heartening that the union government has focused on widening the tax base

Finance Act 2018: A look at how recent changes impact personal tax planning for the ongoing financial year
Business

Finance Act 2018: A look at how recent changes impact personal tax planning for the ongoing financial year

Net tax savings for a majority of all salaried individuals, on account of the changes listed in the Finance Act, 2018, has left a lot to be desired.

GST rate cut on 50 items: TV, refrigerator, washing machines to get cheaper; return filing simplified
Business

GST rate cut on 50 items: TV, refrigerator, washing machines to get cheaper; return filing simplified

The changes would come into effect across the country from 27 July onward, Finance Minister Piyush Goyal told media after the 28th meeting of the GST Council.

Arvind Subramanian's three principles to ease formalisation woes: It's time these suggestions are acted upon
Business

Arvind Subramanian's three principles to ease formalisation woes: It's time these suggestions are acted upon

Why should a government that pushed demonetisation allow tax officials to set the taxation agenda that affects lakhs of small enterprises?

GST Council may consider rate cut on items with low revenue impact on 21 Jul as part of tax rationalisation exercise
Business

GST Council may consider rate cut on items with low revenue impact on 21 Jul as part of tax rationalisation exercise

The all powerful GST Council had, in its meeting in January 2018, decided to slash the GST rate on 54 services and 29 items.

GST anniversary: Indirect tax regime has led to improved efficiency, moderated retail inflation, reveals CII survey
Business

GST anniversary: Indirect tax regime has led to improved efficiency, moderated retail inflation, reveals CII survey

The survey also indicates a positive impact of GST on employment as well as on the demand for goods and services.

GST failed to deliver on promise of formalisation of economy; glitches have led to demand for cash: HSBC
Business

GST failed to deliver on promise of formalisation of economy; glitches have led to demand for cash: HSBC

The GST regime was originally associated with formality. But so far, in our view, it has not been able to live up to that promise, HSBC said

One year of GST: Integration of unorganised sector is major achievement; govt must ensure transmission of lower taxes to consumers
Business

One year of GST: Integration of unorganised sector is major achievement; govt must ensure transmission of lower taxes to consumers

On inflation, so far there is little evidence to suggest that there has been an upward tendency as food has been kept out of GST, which is a large part of the CPI basket.

Gujarat BJP hails Budget as 'inclusive and pro-development', Congress terms it disappointing
India

Gujarat BJP hails Budget as 'inclusive and pro-development', Congress terms it disappointing

The ruling BJP in Gujarat has hailed the Union Budget as "inclusive and pro-development" while the Congress has termed it "disappointing". The Opposition party claimed the budget has failed to offer any solace to common people who are being "crushed" under inflation.

Budget 2018 updates: Amit Shah says Narendra Modi govt's Budget in spirit of 'Sabka Saath Sabka Vikas'
Business

Budget 2018 updates: Amit Shah says Narendra Modi govt's Budget in spirit of 'Sabka Saath Sabka Vikas'

Finance Minister Arun Jaitley will present the Union Budget 2018-19 on Thursday which may see new rural schemes and stepping up of funding towards existing programmes.

GST compensation cess bill tabled in Lok Sabha; replaces ordinance on new tax rates for select motor vehicles
Business

GST compensation cess bill tabled in Lok Sabha; replaces ordinance on new tax rates for select motor vehicles

GST Council meeting on 5 August had recommended a 10 percent increase in maximum rate at which compensation cess can be collected on certain motor vehicles

GST collection falls in Oct: Volatility may continue; too early to call the big-bang reform a hit or miss
Business

GST collection falls in Oct: Volatility may continue; too early to call the big-bang reform a hit or miss

Changing tax rates and creating new exemptions also slows the process of estimating the exact tax liabilities, and by extension, what prospective collection estimates should be.