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GST has rolled out on 1st July 2017, now the impacts are explicit on medicine prices. Currently, applicable GST rates on medicines are put in four categories: GST at 0%, 5%, 12% and 18%.
A blazing event in the historically important Central Hall of Parliament will be filled up with all those big names in politics and power today midnight on the eve of launching the India’s biggest tax reform i.e. Goods and services tax with a bell to sound a great initiative for a prosperous economy.
After a long wait, the dream comes true when GST become applicable across India. More than 2 decades wait for a strong tax reform regarding indirect taxation will be part of our Indian economy. Now after passing the bill in both houses of parliament and receive President Ascent, the bill became Law for our nation. After that the foundation of a GST council complying of states and central governments members and economics experts. The council will decide the rates, exemption and rules and regulation.
A brief introduction to the fat tax, which is particularly liable for food types that are not suitable for large-scale consumption. The Kerala government has introduced the Fat tax for the first time in the state in order to slow down junk food consumption. The revenue generated from this tax will be used for the […]
