Tag: Gst Council

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 […]

New Delhi: GST Council has cleared mandatory compliance of e-way bill for intra-state movement of goods from June 1, 2018, informed sources. The Council has fixed February 1 as the compliance date for inter-state movement of goods, sources in the panel added. The e-way bill facility bill be available for trial run from January 15. […]

New Delhi: Three months after the rollout of the new indirect tax regime, the GST Council today made sweeping changes to give relief to small and medium businesses on filing and payment of taxes, eased rules for exporters and cut tax rates on more than two dozen items. Businesses with annual turnover of up to […]

The 44th meeting of the GST Council, the second this year in the midst of the second wave of Covid pandemic, began on Saturday morning through video conferencing.

New Delhi: The GST Council on Sunday lowered the tax on under-construction residential properties to 5 per cent from 12 per cent to boost the realty sector. The new rates will be implemented from April 1. The Council also made changes in the definition of affordable housing carpet area and cost. Properties costing up to […]

New Delhi: As the new Finance Minister Nirmala Sitharaman presents the Union Budget for the fiscal 2019-20 on July 5, the real estate players want the Budget document to feature steps to improve the liquidity situation with a proposal to re-introduce Input Tax Credit (ITC) for under-construction properties. In their pre-Budget memorandum, the real estate […]

Chennai: Finance Minister Nirmala Sitharaman on Sunday said that the GST Council will take the final call on reducing the tax rate on motor vehicles. Speaking to reporters here, she said that the government is addressing the issues of the automotive segment on the backdrop of the recent slowdown in sales. “One of the suggestion […]

Panaji: The all-powerful GST Council on Friday more than doubled the tax on caffeinated beverages to 40 per cent and slashed the rate on hotel room tariffs. Briefing reporters after a meeting of the panel, Finance Minister Nirmala Sitharaman said the GST on caffeinated beverages has been hiked to 28 per cent plus additional cess […]

New Delhi: The all-powerful GST Council, in its 38th meeting here on Wednesday, voted for uniform rate of 28 per cent on lotteries across the country. During the voting, 21 states voted in favour of a uniform rate. This is the first time since the launch of the new indirect tax that the Council has […]

New Delhi: The finance ministry is not in favour of increasing goods and services tax rates on non-essential items in the next month’s meeting of the GST Council, despite depressed revenue collections due to the nationwide lockdown to contain the spread of COVID-19. If goods and services tax (GST) rates are increased on non-essential items, […]

Kolkata: Trading community urged Union Finance Minister Nirmala Sitharaman and Goods and Services Tax (GST) Council on Sunday to withdraw certain provisions of the new GST notification issued a few days back. The government had notified certain changes to the GST Rules on December 22 and some of the rules are set to be applicable […]