GST Council will reportedly discuss a proposal to move all food and textile products into the 5 per cent stab when it meets early next month. The council could also discuss a plan to cut GST on a host of items including cement…
The government has fast-tracked its plan to overhaul the Goods and Services Tax (GST), with reports suggesting that the much-anticipated reforms may roll out by late September, ahead of Diwali.
GST Council, headed by Finance Minister Nirmala Sitharaman, is likely to roll out new GST rate slabs around September 22 to push festive demand in the country
New GST tax rates soon! Come this Diwali, you will have to pay much lower indirect taxes on several items of daily use, thanks to next-generation Goods and Services Tax (GST) reforms set to be unveiled by the Modi government. In his Independence Day speech, PM Modi announced that as a ‘Diwali gift’, the GST burden will come down for the common man.
The Goods and Services Tax (GST) levied on mobile handsets in India should be brought down to 5%, while the volume of units manufactured domestically is reduced to 22 crores (220 million), an industry group executive said Thursday.
In what could bring major relief to middle- and lower-income households, the central government is seriously considering a restructuring of the Goods and Services Tax (GST) slabs, sources told India Today. A key proposal under discussion is to either reduce the GST on certain essential items from 12% to 5% or to eliminate the 12% slab altogether.
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.
Union Home Minister Amit Shah will lead talks with states and central ministries to build consensus on key changes to the Goods and Services Tax (GST) system, according to an Indian Express report.
GST rates on items like cigarettes, carbonated drinks, and high-end cars may go up soon, as per a report by NDTV. According to government sources cited by NDTV Profit, the center is considering replacing the current compensation cess with a new health and green cess.
A panel mandated to examine tax rates under the Goods and Services Council has recommended slashing tax on green hydrogen to 5% from 18% now, said people familiar with the matter.
