Gst Rate Cuts

GoM recommends lowering GST rate on water bottles, bicycles to 5%: Report

The GoM on GST rate rationalisation on Saturday decided to lower tax rates on 20-litre packaged drinking water bottles, bicycles and exercise notebooks to 5 per cent, but suggested raising taxes on high-end wrist watches and shoes, an official said. The rate rejig decision taken by the GoM on GST rate rationalisation under Bihar Deputy Chief Minister Samrat Chaudhary would lead to a revenue gain of Rs 22,000 crore, the officials added. The GoM proposed reducing GST on packaged drinking water of 20 litres and above to 5 per cent from 18 per cent. If the GoM's recommendation is accepted by the GST Council, the GST on bicycles costing less than Rs 10,000 will be reduced to 5 per cent from 12 per cent. Also, GST on exercise notebooks will be reduced to 5 per cent from 12 per cent, the GoM proposed. The GoM also suggested hiking GST on shoes above Rs 15,000 a pair and on wrist watches above Rs 25,000 from 18 per cent to 28 per cent. The GoM on rate rationalisation in its previous meeti

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

Farmers, apple growers hold demonstrations in Himachal seeking GST rate cut

Farmer's organisations and apple growers, under the banner of Samyukta Kisan Manch (SKM), demonstrated at multiple locations in Himachal Pradesh and sought GST rate cut on boxes used for apple

GST panel rejects demand for tax waiver on Covid-19 vax, ventilator

GST fitment panel has recommended a short-term rate cut on four Covid-19 related items

Javadekar hints at possible GST cut for vehicles to boost auto sector

Elaborating on the possibilities of the GST rate cut on vehicles segment, he said the details of the proposals are being worked out by the Finance Ministry and he is not privy to all the details

Lower GST will help entire auto supply chain: TVS Motor's Sudarshan Venu

Govt would look into the auto industry's demand for lowering the tax rate on two-wheelers, said Sitharaman

GST Council updates: No fees for GSTR-3B for those with nil liabilities

Members of the GST Council discussed issues over videoconferencing in their first meeting since the coronavirus lockdown was imposed

Will consider corporation tax rate benefit extension: FM Sitharaman

Says GST rate reduction to go to Council; Council is likely to meet on Friday through video conferencing.

Over-estimation of GDP numbers in Budget disturb fiscal calculations

Tax receipts are expected to fall by Rs 2.5 trillion which may also be caused by the corporation tax and GST rate cuts

Ex-CEA Subramanian against tax cuts, says no space for fiscal expansion

Subramanian further said that he thinks personal income tax cuts motivated by desired increased consumption are highly inequitable

Brands slow in passing GST rate reduction benefits to consumers: Report

Local Circles conducted a consumer survey to ascertain their perception of GST rate reduction benefits that have been passed on to them

Experts call for multiple GST rate cuts in India citing Singapore example

Singapore has only one tax rate under GST- seven per cent -- on taxable goods and services while India has multiple slabs to charge the indirect tax

Good news: Your stay at luxury hotels to be less expensive from today

Travellers staying in a hotel room costing over Rs 7,500 per night will now have to pay GST of 18 per cent, against 28 per cent earlier

GST rate cut in diamond job work to free up Rs 1,500 cr working capital

Move is likely to encourage polishing units to upscale manufacturing

Letter to BS: Govt should refuse demand for GST rate cut by biscuit makers

The demand for exemptions and a "seamless system" of tariff mechanism and GST system is a self-contradictory demand

GST Council may cut tax on hybrid vehicles as auto sector battles slowdown

The government is examining a rate reduction for such vehicles by doing away with the cess, which will bring down the tax incidence from 43% to 28%

Slashing GST rate can help bring back growth in auto industry: Hyundai CEO

CEO Kim said such a positive step was necessary under the current circumstances in order to make "people come forward"

SIAM hails govt's move to cut GST rate on electric vehicles, chargers

The council reduced GST rate on EVs from 12 per cent to 5 per cent and EV chargers to 5 per cent from 18 per cent

Govt revenue will take Rs 1-trillion hit due to GST rate cuts: Jaitley

Jaitley gave these numbers in his latest blog, titled "How the Poor and the Middle Class Benefitted Most from the Modi Government Policies?"

Order issued against nine companies for not passing Rs 559 cr GST benefits

NAA has received 80 investigation reports from which final orders have been issued in 29 cases