Gst Rate

Centre extends GST return filing deadline for GSTR-3B and GSTR-1

Additionally, the deadline for the October-December 2024 quarter has also been adjusted, with varying due dates for different classes of registered persons

World's worst tax regime: Congress attacks govt over GST rationalisation

The opposition Congress on Thursday called India's GST the world's worst such regime, accusing the government of being interested only in imposing new levies under the cover of rationalisation. The country has reached a point where the middle class is propping the government's tax revenue because corporates are not paying as much tax revenues due to a downturn in business, claimed party spokesperson Rangarajan Mohan Kumaramangalam here. Calling the present system tax terrorism, the Congress leader hoped Prime Minister Narendra Modi will rectify the faulty GST system. We have a regime that has created one of the worst GST (Goods and Services Tax) systems in the whole world. In about 50 countries, there is a tax collection system equivalent to GST. But nobody has such complications which are put in our GST system, he said. Just last month, Finance Minister Nirmala Sitharaman again tried to complicate GST even more by putting three different taxes on three different forms of popcorn,

GST on caramel popcorn sold in theatres to stay at 5%, govt clarifies

Change in sale of old EVs a simplification measure

Social media flooded with memes over 18 per cent GST on caramelised popcorn

Memes flooded the internet as the GST Council confirmed an 18 per cent tax on caramelised popcorn. Here are some of the most hilarious memes

SJM dubs proposal to introduce 35% GST on 'sin goods' as bad idea

Swadeshi Jagran Manch (SJM) has dubbed the proposal to introduce 35 per cent GST on "sin goods" like aerated beverages and tobacco products as a "bad idea" as it would lead to smuggling and loss of revenue for the country. Besides, other bodies like All India Consumer Products Distributors Federation (AICPDF) and Indian Sellers Collective -- an umbrella body of trade associations and sellers across the country -- have raised concerns on the recommendations of the GoM on GST rate rationalisation. Earlier this month, the Group of Ministers (GoM) recommended a special rate of 35 per cent on sin goods like aerated beverages, cigarettes, tobacco and related products. The GoM headed by Bihar Deputy Chief Minister Samrat Chaudhary also suggested rationalisation of tax rates on apparel. "Another slab in GST, in the name of luxury and sin goods is primarily a bad idea, which will defeat the very efficiency principle of taxation. Already, a need is being felt among economists that the present

Panels on GST rationalisation, cutting tax on insurance to meet on Oct 19

The two ministerial panels set up by the GST Council are slated to meet on October 19 to discuss GST rate rationalisation and lowering 18 per cent tax rate on health and life insurance premiums. This would be the first meeting of the 13-member GoM, under Bihar Deputy Chief Minister Samrat Choudhary, which was set up to suggest tax on health and life insurance premiums. The panel, which includes ministers from Uttar Pradesh, Rajasthan, West Bengal, Karnataka, Kerala, Andhra Pradesh, Goa, Gujarat, Meghalaya, Punjab, Tamil Nadu and Telangana, has been mandated to submit its report to the GST Council by October end. Currently an 18 per cent GST is levied on health and life insurance premiums and the GoM would be suggesting tax rate of health/medical insurance including individual, group, family floater and other medical insurance for various categories like senior citizens, middle class, and persons with mental illness. It would also suggest tax rates on life insurance, including term

Second-Gen GST reforms needed for simplicity, equity, competitiveness

Streamlining rates and expanding GST coverage can enhance revenue and reduce distortions; political buy-in remains a key challenge

GST rate panel for keeping current 4-slab tax structure 'for now'

Asks fitment panel to submit findings on potential impact of rate changes to Council at Sep 9 meet

GST Council's fitment committee likely to consider dropping 12% slab

Revamped GST rates may be implemented this financial year

Floor mats for four-wheelers to attract 28% GST, says Gujarat AAR

The applicant, a manufacturer, had argued that 18% GST should be applicable

Rice unfit for humans and used for other purposes to attract 5% GST: AAR

Authority couldn't find adequate rate for the farm produce on the basis of its final product

Abuse of Liberalised Remittance Scheme for offshore betting under CBIC lens

Separate investigation on home-grown online gaming companies shows tax evasion of up to Rs 80,000 crore

'Not supply': AAR rules out GST on canteen fees, notice period pay

The announcement by the AAR bench came after the clarifications issued by the Central Board of Indirect Taxes and Customs (CBIC) in August

CBIC offers clarity on classification of cranes for GST, customs duty

Experts say this would reduce litigation in courts, as different classes of cranes attract different tax rates

Oppn continues protest on GST rates in Parliament, PM meets top ministers

Congress and other like-minded opposition parties held a joint protest against the price rise and increase in the GST rates of essential commodities in the Parliament House complex

Lok Sabha adjourned till 2 pm amid opposition protests over price rise

Lok Sabha proceedings were adjourned till 2 pm on Friday following protests by the Opposition on price rise and other issues. As soon as the House reconvened at 12 pm, members of opposition Congress and Left parties stormed the well, waving placards and raising slogans against rising inflation. BJP member Kirit Solanki, who was in the Chair, allowed laying of parliamentary papers and matters of urgent public importance on the table of the House. MPs Rajveer Singh, Sushil Kumar Singh and Pallab Lochan Das mentioned matters related to their constituencies. As the Opposition's protest continued despite appeals from the Chair, the proceedings were adjourned till 2 pm.

New GST rates come in effect from today: Check the rate change list here

While the GST council proposed to withdraw tax exemptions for a few items and rate changes for others, exemptions for many others were removed

GST Council Meet: Rate changes on items, states' compensation top agenda

The GST Council at its meeting in Chandigarh this week is likely to make changes in goods and services tax rates on a handful of items

Top Headlines: TDS levy on cryptos, GST rate of 200 items, and more

From TDS levy on cryptocurrencies to GST rate of over 200 items staying the same, here are the top headlines on Thursday morning

LIVE: Maharashtra reports 2 more cases of Omicron; India's tally now 40

Maharashtra has so far reported 20 Omicron cases