Tag: Goods And Services Tax

New Delhi: The Indo-American Chamber of Commerce (IACC) on Monday flagged points for the smooth transition of the Goods and Services Tax (GST) into a full-fledged tax structure. Up on the suggestion list of the IACC is the need to bring alcohol and petroleum products within the ambit of the Central GST, said the apex […]

New Delhi: Refuting reports that hostel fee charged by educational institutions will attract 18 per cent Goods and Services Tax (GST), the Finance Ministry on Thursday said such services provided to students, faculty and staff are fully exempt under the new indirect tax regime. “There are some reports that GST at the rate of 18 per […]

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 […]

New Delhi: With three weeks to go before the country moves to big bang tax reform, Goods and Services Tax (GST) Suvidha Providers — key links between taxpayers and the government — say the IT systems for a July 1 roll-out are not ready. “All the rules are yet to be notified. Only after the […]

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 […]

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 […]

Srinagar: Foodgrains, cereals and milk will cost less from July 1 when the Goods and Services Tax (GST) is rolled out as the GST Council today decided to exempt these daily-use commodities from the levy. Common use products like hair oil, soaps and toothpaste will be charged with a single national sales tax or GST […]

Srinagar: The crucial 14th Goods and Services Tax (GST) Council meeting to finalise tax slabs on services and commodities in the country started here on Thursday. Chaired by Union Finance Minister Arun Jaitley, this is the first time that such an important national policy-making meet is being held in Jammu and Kashmir. Finance Ministers, Finance […]

New Delhi: Terming demonetisation and Goods and Services Tax (GST) as “two historic decisions” of the Narendra Modi government, Union Minister Nitin Gadkari on Monday said the revenue receipt will rise to Rs 30 lakh crore in the coming years. Participating in India TV’s ‘Samvaad’ programme, the Road Transport, Highways and Shipping Minister said that […]

New Delhi: Industry chamber Assocham on Sunday asked the government to clearly define the scope of e-commerce under the Goods and Services Tax (GST) regime, as the current definition is wide enough to even cover commodity derivatives exchanges. “E-commerce definition, as given in the Goods and Services Tax (GST) dispensation, has been left so wide […]

New Delhi: Services sector is likely to attract a higher tax rate of 18 per cent from the current 15 per cent under the Goods and Services Tax (GST) regime, thus making services “slightly” more expensive, Revenue Secretary Hasmukh Adhia has said. “Yes, for the services sector the standard rate may move to 18 per […]

New Delhi: Finance Minister Arun Jaitley on Wednesday moved four GST Bills simultaneously for consideration and passage in the Lok Sabha. “The four bills are being taken together because the matter of the bills are same,” Jaitley said while introducing the bills. “Before the constitutional amendment, under the indirect tax regime, the Centre had the […]

Bhubaneswar: The Odisha government on Friday welcomed the zero tax rate on common food items and reduction in tax rate from 6 to 5 per cent by the Goods and Services Tax (GST) Council. “In the interest of the common man, the state government has always been pursuing no tax or lowest possible tax policy […]

The Odisha legislative Assembly on Thursday unanimously passed a resolution ratifying the Constitution Amendment Bill on Goods and Services Tax (GST), 2016

New Delhi: The Goods and Services Tax (GST) Council, headed by Union Finance minister Arun Jaitley, is scheduled to meet on November 10 to discuss on lowering tax rates on handmade furniture, plastic products and daily use items like shampoo. Besides, the council will consider on measures to simplify return filing rules. In further relief […]