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Covid-19 medicines and instruments are sold at a GST rate of 5% while the additional medicines are being sold at a GST rate between 5% to 12% ever since the pandemic begin, Central minister of state for the Finance Pankaj Chaudhary mentioned in the Lok Sabha. Chaudhary indeed mentioned that 66% of the government-sponsored health […]
The GST introduction had not rationalised the average embedded tax on the hospitals and diagnostic laboratories, but rather than increasing it, an examination is opted out via global consultancy. During the inserted taxes rate of hospitals increased from 4.3% in 2016-17 to 5.7% in the GST period, it went up from 3.8% to 5.8% for […]
In this post, you can easily find out the GST rate for air conditioners and their spare parts, including the appropriate HSN code in India. On the GST execution, the tax rates were being diminished for the majority of the electronic goods except for air conditioners and large screen TVs, which now come beneath the […]
A stronger contract enforcement agency is needed for India, a simplified GST compliance, and an easier taxation procedure within the stable policy environment to significantly rectify the ease of processing the business, Sumant Sinha, the newly elected president of Assocham. India’s economy is balanced for sustained high economic evolution in subsequent times, he added while […]
Chief Minister Basavaraj Bommai ensured the farmer leaders that he will see the need for exemption of the fertilizers, pesticides, drip irrigation material, and agro products from the GST net. Bommai specified that he will write to the center and press for the GST exemption in the interest of the farming community. He was talking […]
Due to the rise in the cost of aviation turbine fuel (ATF), the domestic airline player Indigo mentioned that its operations are being impacted and has asked for bringing the jet fuel beneath the GST. The enduring conflict between Russia and Ukraine leads to a straight rise in the prices of crude oil. Post to […]
India supports the global electric vehicle (‘EV’) 30@30 campaign. By 2030, the country is seeking to have at least 30% of new vehicle sales. There is a need for an accessible and robust network of EV charging infrastructure to address the mentioned ambitious target. The functioning of an EV relies on the battery installed in […]
Micro and small companies would get influenced negatively if the GST rates are surged, as per S. Rethinavelu, president of Agrofood Chamber of Commerce and Industry. The trade and industry had been in shock due to the finance ministry considering the GST rate slab increase to 5%, 12%, 18% to 8%, 18% and 28%, particularly […]
The properties rented out by the partner to his partnership firm are subjected to pay the GST specified by Tamil Nadu authority for the Advance Rulings (TNAAR). The same would be applied despite when there is NIL rent. The petitioner, Chennai-based Shanmuga Durai is the Managing Partner of a partnership firm and indeed owns individual […]
