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As per a recent survey report, brands are acting sluggish in providing the benefits of GST rate reduction to the consumers. The report also stated that consumers also want to want anti-profiteering investigation should not be limited to just the product that has been complained about. This consumer survey is conducted by local circles about […]
Contradicting the arguments of the country’s top two-wheeler manufacturers, the Managing Director, Mahindra & Mahindra, Pawan Goenka while talking to Moneycontrol, urged through his statement that the current GST rates should not be reduced as it is in sync with the earlier charged tax rate of excise and VAT and thus does not require any change.
The next GST Council meeting is all set to be held on July 21, 2018. Among many issues to be discussed in the meeting, one is related to the reduction of GST rate on various products and services, especially the ones which do not add much in terms of revenue to the government.
After the GST reduction, the Central Board of Indirect Taxes & Customs ( CBIC ) is ready to track the price. The Finance Ministry, while answering to the questions before the Lok Sabha, mentioned that the board is working with the trade bodies, etc, to ensure the benefits are passed to the final consumers. The […]
The Goods and Services Tax (GST) rates have been nearly implemented, and three out of four consumers believe that companies will reduce prices to reflect these changes, according to a survey conducted by LocalCircles. In the survey, it was discovered that on the grounds of the earlier experiences, nearly 42% of the respondents were just […]
Union Finance Minister Nirmala Sitharaman stated that a proposal to reduce the GST on agricultural equipment and inputs is currently being reviewed by a Group of Ministers (GoM). Sitharaman answering the queries on the Finance Bill, 2025 mentioned that a proposal to reduce the GST on farm inputs, including tractors, drip irrigation systems, fertilisers, and pesticides, to […]
The Gauhati High Court ruled that juice-based carbonated drinks should be taxed at 12% GST instead of the previously high 28% imposed by tax authorities. As a result, consumers may see a decrease in the cost of their preferred beverages. The decision arrives as a big win for X’SS Beverage, a manufacturer of carbonated juice […]
Finance Minister Nirmala Sitharaman dismissed concerns about any rise in Goods and Services Tax (GST) rates, asserting that not even one item has seen a rise since the introduction of the GST regime. While addressing the question hour in the Rajya Sabha, she mentioned that the GST rates have been lessened, drawing the average rate […]
On December 21, 2024, the 55th Goods and Services Tax (GST) Council meeting, held in Jaisalmer, Rajasthan offered an amendment to Sections 107 and 112 of the Central Goods and Services Tax (CGST) Act, 2017 as a measure of facilitating the process of filing of appeals concerning only disputes related to the penalty amount. Finance […]
