Page 2 - Tax Rate

47th meeting of GST Council to be held on June 28-29 in Srinagar: FinMin

The meeting assumes significance as it is expected to discuss the report of the panel of state ministers on rate rationalisation and also the tax rate on casinos, race courses and online gaming

Economy a cause of worry as foreign exchange reserves deplete: Congress

"The government is actually fueling the rise of inflation by its wrong policies, especially through high taxes on petrol and diesel, high administered prices and high GST tax rates," Chidambaram said

Low tax rate has a sunset date, says Revenue Secretary Tarun Bajaj

'I will not be surprised if, in the current year, my tax-to-GDP ratio is the highest-ever for direct and indirect taxes taken together', he said

What are the new and old income tax regimes?

n the Union Budget 2020, Finance Minister Nirmala Sitharaman had introduced a new tax regime. Our next report presents the difference in tax rates between the new regime and the old regime

OECD rules to implement 15% tax rate on multinational entities out

Rules prescribe method of calculation of excess profit, top-up tax, effective tax rate, etc

GST Council must realise that lower rates lead to better compliance

The finance minister, as the Council's Chairperson, must convince states to bring more items down from the 18 percent and 28 percent slabs.

Finmin seeks industry inputs on tax rates, exemptions ahead of Budget

The Union Budget for Financial Year 2023 is expected to be presented on February 1

GST Council meet on Friday; rate review, concession to Covid drugs on cards

The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on Friday, which among other things may review tax rate of over four-dozen items and extend till December 31, tax concessions on 11 COVID drugs. Also, taxing petrol and diesel under the single national GST tax and a proposal to treat food delivery apps such as Zomato and Swiggy as restaurants and levy a 5 per cent GST tax on supplies made by them would be taken up by the Council at its meeting in Lucknow on September 17. "Finance Minister Smt @nsitharaman will chair the 45th GST Council meeting at 11 AM in Lucknow tomorrow. The meeting will be attended by MOS Shri @mppchaudhary besides Finance Ministers of States & UTs and Senior officers from Union Government & States," the Finance Ministry tweeted. The Council, comprising central and state finance ministers, will deliberate on the proposal of extending the existing concessional tax rate structure on Amphotericin B, Tocilizumab, Remdesivir and ...

Make sure you don't miss extended tax filing deadline: Analysts

The new deadlines for uploading declarations in Form 15G/15H for Q1 is November 30. For Q2, the deadline is December 31

Compete on economic strengths, not low tax rates, says Janet Yellen

US Treasury Secretary Janet Yellen said that deterring use of tax havens will let countries compete on economic fundamentals instead of by offering ever-lower tax rates

FIEO seeks re-look at proposed Section 113(ja) in Customs Act

The trade views these measures with suspicion and alerts the government to possible unintended consequences of the proposed amendments

For direct taxes, Budget 2021 has largely maintained status quo

To further support the start-up ecosystem, the tax holiday has been extended by one year by including start-ups incorporated till March 31, 2022 to be eligible for the tax holiday

At up to 50%, cars in India suffer among the highest tax rates globally

Cars and two-wheelers attract 28% GST and a cess in the range of 3-22%, taking the effective tax rate to up to 50%

Insurance industry plans to sell more term products under new tax structure

In the past couple of years, life insurers, mainly private players, have been pushing protection products to improve margins as these term plans enjoy a higher margin

Have changes in tax rates for Indian companies taken the shine off LLPs?

If an MNC wants to invest in India, the company structure seems attractive. For Indian promoters, LLPs still appear to be a better option

Non-resident investors are staring at higher tax rates on dividends

Those not availing treaty benefits may have to shell out as much as 40% tax

Effective tax rate to rise for life insurance companies with DDT removal

Dividend income holds a significant share in the profit before tax of a life insurance company, of 24-37 per cent in 2018-19, it is estimated

Budget 2020: Lower tax rate is great but do we need 'minimum govt'?

Is PPP the magic bullet for everything the government wants to do?

From tax rate cuts to job creation, India Inc sees a populist Budget

Tax rate cuts, job creation measures expected: BS POLL

Tweak slabs, put more money in tax payers' hands to boost consumption

Altering personal tax rates with this goal in mind will help boost consumption