Gst Slabs News

Politics

From hotel tariffs to cars, GST Council to decide to tax rate cut tomorrow

The argument propagated has been to boost the consumption and domestic demand by reducing Goods and Services Tax (GST) rates furtherIt is expected to discuss amendments in GST Laws to accommodate creation of Jammu & Kashmir and Ladakh as UTs

2 min read19 Sep 2019
Politics

FinMin considers steps to prevent composition dealers from charging GST from buyers

Under the GST composition scheme, traders and manufacturers are required to pay only 1% GST on goods which otherwise attract a higher levy of either 5, 12 or 18%

1 min read13 Jan 2019
Opinion

Opinion | A step closer to a single standard GST rate

The GST has been a long time in the making in India but now the abiding economic benefits of a self-policing tax should not be allowed to be held hostage by party politics

2 min read26 Dec 2018
Politics

GST slabs may reduce to 3 in long-term, says Sanjeev Sanyal

Sanjeev Sanyal Principal Economic Adviser to the Finance Ministry said the three slabs could be a low of 5%, a central 15% (merging 12% and 18% slabs that exist now) and a top rate of 25%

1 min read4 Aug 2018
Politics

Revenue collection may fall due to GST rate cut: Sushil Modi

GST collections realised during July was 96,483 crore and the target is to reach 1 trillion a month, said Sushil Modi

1 min read2 Aug 2018
Politics

GST one of the most complex, and second highest tax rate in world: World Bank

GST is one of the most complex with the second highest tax rate in the world among a sample of 115 countries which have a similar indirect tax system, says the World Bank

2 min read16 Mar 2018
Politics

GST Council to further trim list of items in 28% tax slab: Arun Jaitley

But merging of the 12% and 18% GST slabs will have to wait till tax compliance increases, FM Arun Jaitley said at the India-Korea summit

2 min read28 Feb 2018
Politics

Arun Jaitley rules out one GST rate for all items

While the question of one GST rate in India does not arise, the process of rationalisation would continue, said FM Arun Jaitley in Rajya Sabha

1 min read2 Jan 2018
Politics

GST regime to stabilise in next 18 months: Niti Aayog

Niti Aayog vice chairman Rajiv Kumar says tax rates under GST will rationalise into three slabs, from five at present

1 min read22 Dec 2017
Politics

Fewer GST rates possible in the future: CEA Arvind Subramanian

Over time, The 12% and 18% GST rates can probably be collapsed into one rate, says chief economic adviser Arvind Subramanian

1 min read24 Nov 2017
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