Gst Tax Slabs News
Love to eat out? Be ready to pay GST at THIS rate as new regulations take effect
Under the new regulations that took effect on April 1, hotels have the option to choose the ’specified premises’ classification. Customers are supposed to pay goods and services tax at rates between 5 per cent and 18 per cent.
2 min read3 Apr 2025Simplify India’s GST regime: The case for it is clear and it’s time to act
This indirect tax system has grown far too complex. A GST regime with uniform rates—based on clear statistical data—within every broad category would enhance fairness, reduce litigation and also improve the ease of doing business in India.
5 min read14 Jan 2025GST on used vehicles apply differently on businesses
The GST Council last week recommended harmonizing the tax rate on used cars at 18%, which meant the rate for used small cars, including electric vehicles moved up from 12%.
2 min read25 Dec 2024Tax burden on corporate sponsorships eased
The Council’s decision to shift the onus of remitting tax on sponsorship deals from the donor is set to enable the latter to lower its overall tax liability
2 min read23 Dec 2024Mint Quick Edit | Don’t over-roast popcorn with GST
Three different tax rates on popcorn grabbed public attention after Saturday’s GST Council meeting. Why is an indirect tax trying to do what direct taxation is meant for?
1 min read23 Dec 2024GST rate overhaul to face tough review amid tepid urban demand and inflation worries
A ministerial group led by Bihar deputy chief minister Samrat Chaudhary is expected to make its recommendations to the GST Council for tax rate changes on Saturday.
3 min read20 Dec 2024GST rate hike reports premature and speculative: CBIC
The Union govt’s apex indirect tax body referred to “various reports in the media” regarding recommendations of a group of ministers on GST rate changes.
2 min read3 Dec 2024ITC, Godfrey Phillips, Varun Beverages shares slip on report of likely GST hike on cigarettes, tobacco, aerated drinks
Varun Beverages share price plunged as much as 5.18%, ITC stock price declined 3%, Godfrey Phillips India shares declined as much as 3.16%, while VST Industries stock fell 2.27% during Tuesday’s trading.
1 min read3 Dec 2024GST on cigarettes, tobacco, aerated beverages likely to be hiked, new 35% slab proposed: Here’s what we know
The Group of Ministers on rate rationalisation has finalised its report, which will be presented to the GST Council, PTI reported. The GoM will likely propose a tax hike on cigarettes, tobacco, and aerated beverages, as per the report.
2 min read2 Dec 2024Edible oil or cosmetic? Small coconut oil packs pose a big tax question
A tax tribunal order in 2009 said small coconut oil packs should be classified as edible oil, a decision that allowed them to be taxed a lower rate. Now, the Supreme Court is set to decide if it should be so.
4 min read20 Nov 2024Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared