- 30 Jun 2022 03:05 PM
- New
Changes in GST rates to be applicable from 18 July
CHANDIGARH : Several tax rate changes, including on low-cost hotel accommodation, expensive hospital room rent, solar water heaters, coal bed methane, cheques and select farm equipment, will take effect from 18 July, while online retailers will get relief on registration requirements on par with brick-and-mortar traders with effect from 1 January, Union finance minister Nirmala Sitharaman said after a two-day meeting of the GST Council that concluded here on Wednesday.
Read More
- 30 Jun 2022 03:23 PM
- New
Rakesh Jhunjhunwala portfolio stock gives breakout. Should you buy now?
Rakesh Jhunjhunwala portfolio: The GST Council on Wednesday deferred the proposal to levy 28 per cent GST (Goods and Services Tax) on online gaming, casino and horse racing. After the announcement by the Government of India (GoI) about its decision on tax proposals, Delta Corp shares started surging northward as the company has strong exposure in casino business. The Rakesh Jhunjhunwala-backed company's stock ended near 2 points higher at ₹181.40 apiece levels on NSE giving fresh breakout at ₹178 levels.
Read More
- 30 Jun 2022 03:50 PM
- New
GST registration exemption for online seller with low turnover to boost e-commerce
Now such suppliers will not have to obtain GST registration, if their turnover is lower than Rs 40 lakh and Rs 20 lakh for goods and services, respectively. This would come into effect from January 1, 2023.
Read More
- 30 Jun 2022 04:00 PM
GST's half-a-decade journey: Tech usage to plug revenue leaks, Rs 1.3 lakh cr monthly tax 'new normal'
Under GST, a four-rate structure that exempts or imposes a low rate of tax of 5 per cent on essential items and top rate of 28 per cent on cars is levied. The other slabs of tax are 12 and 18 per cent. In the pre-GST era, the total of VAT, excise, CST and their cascading effect led to 31 per cent as tax payable, on an average, for a consumer.
Read More
- 30 Jun 2022 04:18 PM
Government hikes GST for cut & polished diamonds from 0.25% to 1.5%
Gem and Jewellery Export Promotion Council (GJEPC), the apex body of gem and jewellery trade in India, through a series of representations, had been seeking GST increase on cut & polished diamonds to 1.5%, GST decrease on grading and certification (GCS) to 1.5%, refund of accumulated ITC, etc.
Read More
- 30 Jun 2022 04:49 PM
Five years of GST – Baby out of the cradle
Whenever the history of Indian GST is written, the impact of technology in its implementation and execution would invariably be a major highlight.
Read More
- 30 Jun 2022 04:57 PM
5 years of GST: A mix of success and work in progress
The first five years of GST have been a roller-coaster ride, impacted by two waves of COVID-19 that resulted in global lockdowns and supply chain disruptions.
Read More
- 30 Jun 2022 05:54 PM
Allowing firms below GST threshold in e-commerce to help small businesses: Goyal
Commerce and Industry Minister Piyush Goyal on 30 June said the decision to allow firms below the GST threshold to engage in e-commerce is a major decision, which will help small businesses get benefitted from the fast-growing online sector.
Read More
- 29 Jun 2022 05:30 PM
The grand promise of India’s GST is yet to be redeemed
The fifth anniversary of the grand rollout of our goods and services tax (GST) will be celebrated on 1 July. The legislation’s passage in Parliament, ushering in the GST era, was made historic with a special midnight session five years ago. The Prime Minister addressed the nation on live television the next day, which also coincided with Chartered Accountants’ Day.
Read More
- 29 Jun 2022 05:36 PM
To prevent GST evasion, a new plan is on the cards
BENGALURU/CHANDIGARH : The Goods and Services Tax Council will consider several measures to prevent tax evasion at its two-day meeting starting Tuesday as central and state governments face increasing pressure to mobilize revenue to manage spiralling deficits.
Read More