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The Federation of Telangana Chambers of Commerce and Industry (FTCCI) has outlined the importance of bringing petrol and diesel under GST while hailing the Goods and Services Tax (GST) rate rationalisation as a landmark step for a simpler and more inclusive tax regime. FTCCI leaders, led by its president R.Ravi Kumar, while asking for a […]
The government, in a move aimed at stimulating demand in the automobile sector, has restructured GST rates for vehicles and auto parts. The Compensation Cess has been eliminated, making vehicles cheaper in several categories. Under overhaul, 12 and 18 per cent slabs have been removed, and 5 and 12 per cent slabs remain in place. […]
The 56th GST Council meeting in New Delhi, chaired by Finance Minister Nirmala Sitharaman, focused on amending GST slabs, easing compliance, and executing next-generation GST reforms. FMCG, auto, and cement sectors are expected to benefit under the proposed tax cuts, ensuring relief for consumers. The first day of the meeting on 3rd September revolved around […]
Before the 56th meeting of the Goods and Services Tax Council, the Industry body CII aimed early conclusion of the rate rationalisation process in a meeting with Finance Minister Nirmala Sitharaman. In the additional GST reforms, the industry body recommended considering all petroleum products under GST, relaxations in the ITC to facilitate the working capital […]
A tax demand of Rs 6.72 crore has been imposed by the GST authorities on the Oil and Natural Gas Corporation Limited (ONGC), India’s largest oil and gas producer. The company in an exchange filing cited that the demand, which contains recovery of tax, interest, and penalties, relates to the IGST liabilities of the company […]
The Ministry of Heavy Industries (MHI) has supported the proposal by the Society of Indian Automobile Manufacturers (SIAM), assisting in their request for lessening a reduction in GST rate on CNG-powered two-wheelers from the existing 28 per cent to 18 per cent and then to 12 per cent in stages. Bajaj Auto can be the […]
The Minister for Road Transport and Highways, Nitin Gadkari, suggested the Finance Ministry and its counterparts in the states lessen the GST on flex-fuel vehicles to 12 per cent. Gadkari addressing IFGE’s India Bio-Energy & Tech Expo, said flex-fuel engines are the objective as they will not only lessen the emissions but help shorten the […]
The Bombay High Court has quashed a show cause notice issued in a standardized printed format, which only included the period, date, and time, but lacked any specific details regarding the information or documents required from the petitioner to be presented. The bench, consisting of Justices K. R. Shriram and Jitendra Jain, observed that before […]
The Ministry of Petroleum and Natural Gas (MoPNG) will work on bringing petrol, diesel, and ATF under the goods and services tax (GST), Oil Minister Hardeep Singh Puri cited. Questioned regarding charging GST on these fuels, Puri stated, “We will try. The Minister of State (Suressh Gopi) and I will both work on it.” The […]
