Search results for: GST reduction

On the size of televisions exceeding 32 inches, Television manufacturers are pushing for a reduction in goods and services tax (GST) to 18% from 28% to reduce the surge in the cost of open cell panels – the costliest part of LED TVs – that gets imported from China. There is a rise in prices […]

The auto industry leaders have again requested the government to reduce the GST liabilities for the industry because of the reduction in sales due to the outbreak of coronavirus. The requests were made during a video conference on Thursday with Union Minister for Heavy Industries and Public Enterprises Prakash Javadekar in which the steps to […]

There are a number of companies that make a plethora of unbranded clocks units. And some well-known brands like Ajanta India, Oreva Group, Sonam Clock and Rikon Clocks Manufacturing Co produce around 15 million of clocks per annum. Just like any other industry in India, clock industry was going through a recession and now due […]

Good news coming up for the Mahindra and Mahindra (M&M) vehicle lovers in India. The company has just announced that it will decrease the price of e-Verito by up to INR 80,000 to pass the benefit of reduced GST on electric vehicles to the customers. The CEO of Mahindra Electric, Mahesh Babu, said, “Mahindra will […]

Increment in the GST rate on luxury cars to 25% led to the agitation among the luxury carmakers. The cold sweat scenario has now reached the crest and other carmakers are also joining the behest made by Rohit Suri who is the head of Jaguar Land Rover, India about discarding luxury cars as ‘sin goods’ […]

Some of the reliable sources at income tax department have revealed that tax officials are likely to ask for a 6% reduction in GST return collection target in the full Union Budget for the FY 2019-20, in comparison to what has been announced during the Interim Budget earlier this year. The demand of 6% reduction […]

India Inc, the service sector including the Government and the Corporate sector, has got a hint regarding tax rebate from the Finance Ministry.

The GST Council is discussing upon to provide tax relief to the housing sector to promote the demand of the industry. But, the Council is concerned about that at a large scale builders are doing tax evasion so the tax relief framework must be structured in such a manner so that the builders would not do tax evasion.

Through a recent decision, the GST Council has reduced the Tax on third-party motor insurance for commercial vehicles from 18 percent to 12 percent.