Big GST changes ahead? Centre signals green light, says report
India could soon see the biggest changes in its goods and services tax (GST) system since its launch eight years ago, reported The Economic Times.
Tag: GST Council meeting
All eyes on upcoming GST Meeting: Nomura hints 12% slab may go – Price drop for ACs, tractors & insurance?
Recent reports in the media and the buzz in the market indicate that the GST Council meeting is likely in the next two weeks. Rate rationalisation is one of the key agendas. Despite multiple rounds of discussions, from the 45th GST Council meeting in 2021 to the recent 55th meeting in December 2024, a consensus on it has remained elusive.
GST Council meeting likely only after monsoon session as key GoM reports awaited
GST Council meeting is likely to be held after Parliament’s monsoon session, as the group of ministers on rationalising rate slabs and the GoM on cess are yet to submit reports, three government sources told Moneycontrol.
56th GST Council Meeting: Slabs, cess and simplification – Here’s what to expect
The 56th Goods and Services Tax (GST) Council meeting, postponed from its original June schedule due to a packed agenda. With the Monsoon Session of the Parliament looming, the Council is expected to meet and address long-pending demands from industry and state governments.
GST Council set to discuss reducing items in 12% slab
The agenda for the Goods and Services Tax (GST) Council at its next meeting will include deliberations on minimising the 12% tax slab and also finalising the tax treatment on service intermediaries, which could provide the sector relief worth thousands of crores, according to informed sources.
GST Council may meet in early July ahead of Monsoon Session of Parliament
According to sources, while the Council was originally slated to meet in June, it is now likely to meet in July given the heavy agenda before it. A formal date of the GST Council meeting is yet to be announced and the agenda is also expected to finalised subsequently.
CII seeks early GST rate rationalisation in meeting with FM
Ahead of the goods and services tax (GST) council meeting, industry body CII on Tuesday sought early conclusion of the rate rationalisation process in a meeting with finance minister Nirmala Sitharaman, sources said.
Next GST Council meet soon, rate rationalisation on the table
The Goods and Services Tax Council will meet soon and discuss rate simplification and rationalisation besides the future of compensation cess.
CBIC notifies rules for entities to get temporary GST identification number
Entities that are not required to get a GST registration but are required to make a tax payment under the GST Act provision can now obtain a Temporary Identification Number (TIN).
Gift vouchers won’t attract GST, clarifies Council
In a significant move during its 55th meeting in Jaisalmer, the GST Council clarified that transactions involving vouchers will be treated as neither a supply of goods nor services and, consequently, will not face taxation under the Goods and Services Tax (GST) framework, sources have told ET Bureau.