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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 […]
Deputy Chief Minister Mallu Bhatti Vikramarka offered a GST exemption for health insurance premiums for senior citizens and for reduction or exemption on health insurance premiums based on the access to effective healthcare of their choice to ensure the middle and lower middle-class groups who have high medical expenditures. In the 54th GST Council meeting […]
Sources indicate that the Finance Ministry is poised to reassess the Goods and Services Tax (GST) rates applicable to digital news subscriptions. This decision comes in response to a suggestion from the Information and Broadcasting (I&B) Ministry to slash the GST rate on digital news subscriptions from the existing 18% to 5%. Key Points in […]
Industry body India Energy Storage (IESA) sought for the government to lessen the Goods and Services Tax (GST) on batteries and electric vehicles charging infrastructure services and battery swapping. The IESA, with the coming India Energy Storage Week 2024 (IESW) in New Delhi from July 1-5, 2024, proposed the expansion of production-linked incentive (PLI) schemes […]
Through approaching the President who has duly forwarded their representation to the Finance Ministry the ice cream companies have increased their efforts to lessen the GST rate. After that to reduce the tax they secure key Finance Ministry officials. There is an 18% GST rate on the ice cream that is sold via shops or […]
On Wednesday, the Andhra Pradesh Medical and Sales Representatives Union (APMRSU) and the Federation of Medical Representatives Associations of India (FMRAI) held a protest, urging the government to lower medicine and medical device prices and exempt them from Goods and Services Tax (GST). U.V. Krishnaiah, the State general secretary of APMRSU, highlighted that medical and […]
On Wednesday, a committee of the Parliament suggested to the government that a proposal should be made to the GST Council to cut the tax rates on fertilizers from 5% at present. The Standing Committee on Chemicals and Fertilisers said the committee has been notified that 12% GST is applicable on fertilizers. However, seeing the […]
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 […]
