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The GST Council has given relief to patients by exempting cancer medicine Dinutuximab and special food for treating rare diseases from GST. Dinutuximab, branded as Qarziba, is used to treat nerve cell cancer called neuroblastoma in patients over 1 year old. The medicine costs Rs. 36 lakhs and is imported by individuals for personal use. […]
Buying a bigger utility vehicle that consists of an SUV and MPV (multi-purpose vehicle) shall cost higher. The UVs especially those that are more than 4 meters would seem to witness a rise in the prices by 2% with the 50th GST council surging the cess from the present 20% to 22% which is a […]
The 50th GST Council may provide clarification on July 11 regarding the TCS liability of suppliers engaged in e-commerce trading through Open Network Digital Commerce (ONDC) when multiple operators are involved in a transaction. The Department for Promotion of Industry and Internal Trade (DPIIT) has introduced a new program called ONDC, Open Network for Digital […]
For checking the bogus registration, the GST council would seem to diminish the 30 days duration from 45 days at present, for the submission of PAN-linked bank account information of the individual asking for the registration with the tax council. The meeting of the council dated 11th, July would seem to furnish for the compulsory […]
The GST Council is expected to define multi-utility vehicles (MUV) and crossover utility vehicles (XUV) in order to collect a 22 per cent compensation cess over and above the 28 per cent GST slab rate, according to the sources. The council will make it clear in its next meeting which will be held on July […]
The 50th Goods and Services Tax (GST) Council meeting is in progress today, on July 11th, 2023. Chaired by Union Finance Minister Nirmala Sitharaman, this meeting holds paramount importance in discussing crucial taxation issues. It is important to note that the information shared is reflective of the present circumstances. We will continue to provide you […]
The forthcoming 49th GST council meeting would get conducted in the last week of February concerning the temporary relief to the auto industry while it seems to postpone the hike in the rate of compensation cess proposal which is been subjected to be applicable for the MUVs similar to the SUVs that counts beneath the […]
The GST council’s 48th meeting would have incorporated amendments in the SUV segment in India. Under the guidelines, Mahindra Thar has been removed from the SUV category, resulting in less tax. Mahindra Thar is a market leader and is the top-rated 4X4 SUV available in the market at present. In 2020, Mahindra Thar obtained a […]
The GST council issued recommendations at its 49th meeting regarding GST compensation, the gst appellate tribunal, the gom report on capacity-based taxation and special composition scheme for certain commodities, GST rates, and additional trade facilitation measures. On February 18, 2023, in New Delhi, the GST Council’s 49th meeting was presided over by Smt. Nirmala Sitharaman, […]
