India’s top indirect tax body wants to strictly avoid aggressive enforcement, preferring a "soft nudge" approach to encourage tax compliance instead. Alongside, it will tally income tax returns with ...
New Delhi: Indirect tax authorities will closely monitor prices after the Goods and Services Tax (GST) rate cuts kick in on 22 September to ensure consumers get the full benefit, according to a top ...
GST tax rate change: The highest slab has been designed for luxury and non-essential goods such as high-end vehicles, aerated drinks and tobacco products. India’s indirect tax system is set for a ...
The much-anticipated goods and services tax (GST) 2.0 reforms have been formally announced by the GST Council. The 12% and 28% GST slabs were eliminated following its decision. The Council, in ...
GST revamp: Jewellery sector’s tax rate steady at 3%; industry sees indirect gains but mixed outlook
Indian jewellers have expressed mixed reactions to the government's decision to maintain the 3% GST rate on gems and jewellery. While some industry leaders believe that reduced GST rates in other ...
The GST Council has approved a restructured indirect tax system, effective September 22nd, featuring simplified rates of 5% and 18%, with a 40% category for luxury and sin goods. This reform ...
The GST Council, as widely expected, moved to a two-slab indirect tax system by retaining the 5% and 18% rates and doing away with the 12% and 18% slabs. The GST Council has been maintaining the ...
Tractor manufacturers such as Escorts Kubota and Eicher Motors are expected to gain significantly from the tax sops, with the GST rate on the segment slashed to 5 per cent from 12 per cent, say ...
PM Narendra Modi hailed the GST reform, saying it will benefit farmers, MSMEs, traders, and the middle class, while giving a strong boost to the economy. The GST Council on Wednesday approved a major ...
New Delhi: Under its latest rate rationalization exercise packaged as next-gen reforms, the GST Council has proposed to bring down medical devices under the 5 per cent bracket of the new two-titer ...
The GST rationalisation, coupled with income tax adjustments, could add 0.7-0.9 percent to GDP on an annualised basis, thus softening current macro headwinds, Kotak Institutional Equities has ...
India Inc on Thursday hailed the GST Council's "forward-looking decisions" -- moving to two rates of 5 per cent and 18 per cent from 22 September, simplifying refunds and MSME procedures, and ...
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