GST 2.0: Concerns over states’ revenue losses ‘premature’, says CEA V Anantha Nageswaran
Chief Economic Advisor (CEA) V Anantha Nageswaran feels that the Centre’s goods and services tax (GST) reforms will boost consumption in India.
Tag: GST 2.0
No GST relief for Indian media industry
The GST Rate rationalisation exercise saw rate cuts for over 400 products and services, but the GST rate for broadcasters remained the same at 18%. Ahead of the latest GST Council meeting, broadcasters had made a pitch for lowering the GST rate from 18% to 5%.
GST reforms: Government may lose Rs 10,664-crore in IGST receipts; GTRI flags import-linked shortfall
The Central government may lose around Rs 10,664 crore in Integrated Goods and Services Tax (IGST) revenues after the latest round of GST rate rationalisation, according to an assessment by the Global Trade Research Initiative (GTRI).
Tata Motors to Mahindra, carmakers start announcing new car prices after GST rate cut
Major automakers including Tata Motors, Mahindra & Mahindra, and Renault India have announced price cuts across their passenger vehicle portfolios after the Goods and Services Tax (GST) Council slashed rates on cars and auto components earlier this week.
After Tata Motors & Renault, Mahindra Cuts SUV Prices By Rs 1.56 Lakh To Pass On GST Reduction
In order to pass on the GST rate cut, Mahindra & Mahindra on Saturday announced a price reduction of up to Rs 1.56 lakh on sports utility vehicles (SUVs) like Scorpio, XUV700, Thar and Bolero.
GST exemption on insurance products to cost ₹9,900 crore
GST exemption on insurance is estimated to cost ₹9,900 crore, sources said. States cautioned that insurance companies should not make windfall gains.
GST rate rationalisation to bring down thermal coal prices
The GST rate rationalisation is expected to soften the price of thermal coal, which accounts for more than 70 per cent of India’s power generation. This is a move that will reduce cost of power generation.
GST Council raises rate on coal to 18% with removal of compensation cess
At its 56th meeting, the GST Council announced sweeping rate reductions across a range of goods and services. However, coal stood out as one of the few exceptions.
Apparel industry raises concerns on increase in GST on higher priced clothes, fear rise of grey market
Apparel industry players have raised concerns about the increase of GST rate on garments priced above ₹2,500 from 12 per cent to 18 per cent.
Only 5% And 18% GST Slabs From September 22. 40% For Super Luxury Items
The complicated GST slabs that gave headaches to small traders after the flagship tax overhaul came into effect, was cleaned up by the government today, leaving only two slabs — 5 and 18 per cent.