Tax Rates

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 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.

Govt is trying to correct botched-up implementation of GST, solution lies in single rate tax system

India is one of the few countries in the world with so many GST rates.

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

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

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

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

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

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

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