GST Council

Kerala-Centre face-off on GST: State FM Balagopal says no tax should be levied on common man’s items

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Kerala-Centre face-off on GST: State FM Balagopal says no tax should be levied on common man’s items

Kerala Finance Minister K N Balagopal on Thursday said the state had repeatedly expressed its reservations over imposing GST on certain packaged food items, contradicting Union Finance Minister Nirmala Sitharaman‘s claims that even non-BJP ruled states were onboard on the taxation decision. Days after Sitharaman mentioned that Opposition-ruled states had given their nod for imposing … Read more

India puts GST rate tweaks on hold till it has a grip on inflation

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India puts GST rate tweaks on hold till it has a grip on inflation

The goods and services tax (GST) rate rationalisation exercise is likely to be delayed because of inflationary pressure and geopolitical tensions, said a senior finance ministry official as part of comments about the economy, asset sales and the government’s borrowing programme. The Centre has sought a legal view on the divestment of Pawan Hans and … Read more

GST Council mulling 28% tax on Bitcoin, other cryptocurrencies

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GST Council mulling 28% tax on Bitcoin, other cryptocurrencies

In what could further dampen the mood of crypto investors in the country, the goods and services tax (GST) council is mulling a 28 per cent tax on cryptocurrencies, at par with the current GST on casinos, betting and lottery, multiple media reports claimed on Monday. The services such as crypto mining along with sales … Read more

Centre denies reports of GST council planning to raise 5% tax slab to 8%

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Centre denies reports of GST council planning to raise 5% tax slab to 8%

The Central Government has categorically denied the media reports claiming that the Goods and Services Tax (GST) Council is planning to raise a five per cent tax slab to eight per cent, said the government sources. The sources confirmed to ANI that there is no such proposal from the Council, this news is speculative and … Read more

Union Finance Minister Nirmala Sitharaman airs concern over rising crude oil price

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Union Finance Minister Nirmala Sitharaman airs concern over rising crude oil price

Union Finance Minister Nirmala Sitharaman on Tuesday expressed concern over rising crude prices due to the Ukraine crisis and indicated that the central government is looking to tap alternative sources. At an interactive session organised by BJP‘s Karnataka unit, she was asked about the impact of rising crude prices and war in Ukraine on the … Read more

Centre deferred GST hike on textiles fearing defeat in upcoming polls: Congress

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Centre deferred GST hike on textiles fearing defeat in upcoming polls: Congress

The Congress on Saturday claimed that the Centre deferred the hike in GST on textiles from 5 per cent to 12 per cent out of fear of losing the upcoming Assembly elections in five states and later in Gujarat, which is a textile hub. Addressing a press conference in Ahmedabad on New Year day, the … Read more

Union Budget: Finance Ministry invites suggestions on taxation from industry and trade bodies

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Union Budget: Finance Ministry invites suggestions on taxation from industry and trade bodies

The Finance Ministry has asked for suggestions on taxation from industries and trade bodies for Budget 2022-23, which is going to set the tone for growth of India’s economy hit by the COVID-19 pandemic. In a communication to trade and industry associations, the ministry invited suggestions for changes in the duty structure, rates, and broadening … Read more

GST Council: No GST on petrol, diesel yet, compensation cess till 2026

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GST Council: No GST on petrol, diesel yet, compensation cess till 2026

The Goods and Service Tax (GST) Council decided against including auto fuels within its ambit following unanimous opposition from states, even as it specified that compensation period would not be extended beyond 2022. Finance minister Nirmala Sitharaman highlighted that the cess collected from July 2022 till March 2026 will be used solely for repayment of … Read more

Swiggy, Zomato to collect 5% GST on deliveries, food not to get dearer

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Swiggy, Zomato to collect 5% GST on deliveries, food not to get dearer

The GST Council on Friday approved a proposal to treat food delivery apps such as and Swiggy as restaurants and levy 5 per cent GST on supplies made by them. Such food delivery apps will now be required to collect 5 per cent GST, or Goods and Services Tax, from consumers instead of the restaurant … Read more