Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The three GST rates include 5, 12, and 18 percent would be directed to get integrated by the Union government, revenue secretary Tarun Bajaj specified. The union seeks to assess the possibility of a single GST rate. Addressing the Assocham meeting specified that the rate of rationalization practice of the GST official would direct the […]
A top authority mentioned that the GST Council might choose to diminish the assessment slabs under the Goods and Services Tax administration in the wake of investigating the income accumulated and the remuneration payouts to states. With industry requesting for bringing down of proposed GST rates of 5 , 12 , 18 and 28 percent post the demonetization, CBEC Chairman Najib Shah said the Centre and the states at present gather Rs 8 lakh crore from indirect charges, fewer custom duties, and a similar level of income must be gathered in the GST administration.
On the GST rate rationalization, the GoM suggested lowering the tax rates on 20-litre packaged drinking water bottles, bicycles, and practice notebooks to 5%, however, it recommended raising the taxes on high-end wristwatches and shoes, as per the official. According to officials, GoM’s decision on the rate rejig on the GST rate rationalization under Bihar […]
The upcoming 55th GST Council meeting is scheduled for December 21, 2024, in the penultimate week of the month at Jaisalmer, Rajasthan, and is expected to focus on GST for insurance premiums. GST Council Meeting at the End of December Month The GST council meeting will likely be held at the end of December month, […]
The 54th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman and attended by state finance ministers and tax officials, concluded with several key recommendations. Additionally, the GST rate on small digital transactions (PAs) is to be discussed at the next meeting. Additionally, the current 18 per cent GST rate on life and health […]
The council that suggests the GST rates may suggest a lower levy on health and life insurance policies with annual premiums up to Rs 50,000 to lessen the cost for lower and middle-income groups. The fitment committee might suggest placing a cap on the maximum amount assured to lower the GST levy or a combination […]
Good and services tax (GST) collections in August surged to 10% from the same period of the previous year to Rs 1,74,962 crore, according to the government’s official statement. The same rise was noted in all categories- Central GST (CGST), State GST (SGST), Integrated GST (IGST), and cess. In the previous year, the gross GST […]
Central Board of Indirect Taxes and Customs (CBIC) chairman Sanjay Kumar Agarwal said that India’s indirect tax structure will drive towards minimum tax slabs and the Centre will overhaul the present classification under both goods and services tax (GST) and customs. It is possible and prudent to have three tax rate slabs in the GST. […]
In multiple proposals sent to Finance Minister Nirmala Sitharaman before the upcoming Union Budget on July 23, the Delhi Market Association has requested that the FM consider lowering the Goods and Services Tax (GST) rates on various items and shop rentals to help grow sales. According to Vikram Bhasin, President of the GK-2 Market Association, […]
