Tag: Gst Council

GST
GST Council recommendations not binding on Centre, state govts: SC

A bench, headed by Justice D.Y. Chandrachud and comprising Justices Surya Kant and Vikram Nath said: "The deletion of Article 279B and the inclusion of Article 279(1) by the Constitution Amendment Act 2016 indicates that the Parliament intended for the recommendations of the GST Council to only have a persuasive value, particularly when interpreted along with the objective of the GST regime to foster cooperative federalism and harmony between the constituent units."

  • Thursday, 19 May 2022
nirmala-sitharaman
GST Council Did Not Recommend Reducing GST On Health Insurance: FM

Health insurance schemes catering to the needs of economically weaker sections of the society and differently abled, such as the Rashtriya Swasthya Bima Yojana, the Universal Health Insurance Scheme, the Jan Argoya Bima Policy, and the Niramaya Health Insurance Scheme are fully exempt from GST.

  • Monday, 04 April 2022
GST Council Defers Implementation Of Tax Rate Hike On Textiles
GST Council Defers Implementation Of Tax Rate Hike On Textiles

States like Gujarat, West Bengal, Delhi, Rajasthan and Tamil Nadu have said they are not in favour of a hike in Goods and Services Tax (GST) rate on textiles to 12 per cent, from 5 per cent, with effect from January 1, 2022.

  • Friday, 31 December 2021
GAT Tax rate
GST impact: Check what's costlier & cheaper

Considered to be one of the biggest tax reforms since Independence, the Goods and Services Tax is all set to impact the prices of every good and service. Here is a list of the goods and services and the taxes they will attract under the GST regime. GOODS Exempted Milk, eggs, salt, fresh vegetables, fruits, […]

  • Thursday, 22 July 2021
secreatariat
Odisha approves GST Bill; 6 goods exempted

Bhubaneswar: The Odisha government today approved the GST (Goods and Services Tax) Bill after the cabinet gave its nod for implementation in state across all goods except six. Among the 6 goods which have been kept out of the ambit of the State GST, 5 are petroleum products and the sixth one is alcohol. The […]

  • Thursday, 22 July 2021
Pradeep Amat - Finance Minister
Odisha’s demands not considered in GST: Amat

Bhubaneswar: A day after the Lok Sabha passed four supplementary legislations to pave way for the implementation of Goods and Services Tax (GST) across the country, the Odisha government said that the State’s demands were not considered while deciding to implement the regime. Citing his displeasure over the form in which the GST was passed, […]

  • Wednesday, 21 July 2021
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GST threshold limit set at Rs 20L for Odisha

New Delhi/ Bhubaneswar: The Goods and Services Tax (GST) Council on Friday fixed the turnover-based exemption limit from such levies at Rs 20 lakh for Odisha, informed State Finance minister Pradeep Kumar Amat. The threshold limit has been set at Rs 20 lakh for all states barring the North-Eastern region. However, according to Amat, the […]

  • Tuesday, 20 July 2021
Arun-Jaitley
GoM to look into anomaly in GST collection in states: Jaitley

New Delhi: The Goods and Services Tax (GST) Council on Saturday decided to form a seven-member Group of Ministers (GoM) to study anomalies in tax collection in some of the states which showed wide deviation from what was expected. “The Council has approved the proposal to form a seven-member GoM to study the revenue trend, […]

  • Friday, 09 July 2021
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Movies, monitors, video games get tax cuts; GST Council leaves cement at 28%

New Delhi: Computer monitors, TV screens, video games, lithium-ion power banks, retreaded tyres, wheelchairs and cinema tickets are among products and services set to get cheaper with their removal from the GST regime’s highest 28 per cent tax bracket by the GST Council on Saturday, with the industry lauding the latest reductions as a boost […]

  • Friday, 09 July 2021
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GST Council proposes cashback incentive to promote digital payments

New Delhi: The Goods and Services Tax (GST) Council in its meeting on Saturday decided to start a pilot project to give cashback to consumers in order to incentivise digital payments in the country. The pilot project, which proposes 20 per cent cashback on GST component of transactions, will be rolled out by states who […]

  • Thursday, 08 July 2021
Leasing vehicles purchased before July 1 to attract 65% GST

New Delhi: In order to provide relief to old/existing leases of motor vehicles, the GST Council has decided that the leasing of vehicles purchased and leased prior to July 1 would attract 65 per cent of the applicable GST rate (including compensation cess). Sale of vehicles by a registered person who had procured the vehicle […]

  • Tuesday, 06 July 2021
GST: Cess hike on cars to take effect from Monday

New Delhi: The increased Goods and Services Tax (GST) cess on mid- and high-segment cars approved by the GST Council will come into effect from Monday. “Notification regarding increase in the effective rates of the Compensation Cess on specified motor vehicles will be issued on September 11, 2017, effective from 00:00 hours the same day,” […]

  • Tuesday, 06 July 2021
gst bill
Industry prepared for GST rollout from July 1: CII

New Delhi: As the GST Council meets here to finalise issues before the Goods and Services Tax is implemented from July 1, industry lobby CII said on Sunday that Indian industry is ready for the rollout of the pan-India indirect tax regime. “GST is the most significant indirect tax reform introduced in the country since […]

  • Monday, 05 July 2021
GST meeting
GST: Gold to be taxed at 3%, beedis at 28%

New Delhi: The GST Council on Saturday completed the exercise of bringing all items under a 4-slab tax structure with gold to be taxed at 3 per cent, ending the suspense on the item dear to Indians, even as all states barring West Bengal agreed on the rollout of the new indirect tax regime on […]

  • Monday, 05 July 2021
GST Bill
Number of tax slabs should reduce over time, says GST Council official

New Delhi: The number of tax slabs should be reduced to one to two over a period of time, a top Goods and Services Tax (GST) Council official said on Monday. “Over a period of time, our aim should be to reduce the number of tax slabs to 1-2,” Arun Goyal, Additional Secretary, GST Council […]

  • Monday, 05 July 2021
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