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Effective use of the new technology and tight compliances on the ITC by taxmen is not only assisted you to ensure the increased compliance but indeed results in a constant rise in the GST collections on a month-on-month (MoM) grounds. As per CBIC on the scrutiny of returns and the reduction in the e-invoicing limit […]
Quoting higher inflation, the Federation of Hotel and Restaurant Associations of India appealed to the GST council to rationalize the GST rates for the hospitality sector. FHRAI indeed urged the government to acknowledge the update of simple GST rules to enable the establishments to come beneath the hospitality segment to claim the ITC. The same […]
Industry associations IndiaTech.org, ADIF, and Nasscom have advised the government to reduce the GST compliance load on the small online sellers. They mentioned that various micro, small and medium enterprises (MSMEs) have fear concerning the transition to the online marketplace because of cumbersome tax compliances beneath the GST law. It opposes the MSMEs from approaching […]
According to a senior official at the Centre, faced with the competing objectives of raising revenue and containing inflation, the government is likely to propose a gradual hike in the GST rates over time rather than reducing the slab sizes as they are at the moment. The same would be told to the states, who […]
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 […]
When the Goods and Services Tax (GST) was introduced, many electronic items saw higher tax rates. For example, air conditioners and large-screen TVs were taxed at 28%. However, following a recent GST Council decision, this rate has been reduced to 18%, effective September 22, 2025. Why Did the Price of Air Conditioners Change Because of […]
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 […]
