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In consideration with subsuming the indirect taxes across the country, the government will introduce the GST compensation bill in the upcoming winter session of Parliament beginning next week. The bill will be presented in the light of compensating the states for any revenue losses encountered by stated under the GST regime as promised by the government.

The automotive industry association SMEV have appealed the government to exempt electric vehicles from the Goods and Services Tax (GST) as these vehicles play a vital role in reducing air pollution. Notedly, SMEV is an association that represents Indian manufacturers of electric vehicles and electric vehicle accessories.

GST multi-tier structure has been questioned by senior Congress leader Chidambaram, as he mentioned, The proposed GST structure with higher rates has left a lot to be desired” and there is a room for improvement in the multi-tier tax framework.

In the middle of GST application, Tamil Nadu Packaged Drinking Water Manufacturers Association has applied a plea in favor of exempting themselves from the GST effects as the reason offered was that the water supply basically completes needs of the domestic region.

India’s rank has been thought to improve in the reports of World’s Bank ‘Doing business’. While the laws of Bankruptcy and GST has been applied, this has given a boost to the ranking of India’s economy which was earlier struck at 130 but now it has been lifted to number 131.

The announced GST rates have certainly created a buzz over the market both domestic as well as internationally. The Council has decided for a multi-tiered structure of 0%, 5%, 12%, 18% and 28%. The fluctuations of tax rates are highly in flow throughout the nation.

Nischal Maheshwari, Head Edelweiss Securities in his interview with a prominent news provider discussed some basic facts and issues regarding GST and its impact on various items as stated by him that consumer goods and white goods are no luxury goods anymore.

Goods and Service Tax rate got its final rates yesterday with the multi-tiered structure of 5,12,18,28 percent and with this announcement, Goa government has come up with a special meeting to discuss the implementation of GST in the state.

A much-awaited meeting regarding GST will be held today for the proposal of several issues concerning the significant tax rate fixation and assessee dual control matter. Minister of State for Finance Arjun Ram Meghwal stated into his statement that