- 02 Dec 2024 07:06 PM
- New
GST collection for November rises by 8.5% to ₹1.82 trillion
The uptick in GST collections driven by festive demand had been anticipated by policymakers, who remain optimistic about sustained growth in rural consumption and an improvement in urban demand.
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- 02 Dec 2024 07:09 PM
- New
Top News on Dec 1: GST collection rises, Andhra dissolves Waqf board, Kejriwal rules out alliance in Delhi polls, more
Top News on Dec 1: From increase in GST collection to Andhra govt dissolving Waqf board to killing of 7 Maoists to Donald Trump picking loyalist Kash Patel as his new FBI director, here are today's top stories.
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- 29 Nov 2024 05:51 PM
- New
GST on Healthcare, Life Insurance and Critical Drugs
Source: https://taxguru.in/goods-and-service-tax/gst-healthcare-life-insurance.html
The Ministry of Finance addressed GST-related queries on healthcare, life insurance, and lifesaving drugs. While data on revenue from cancer and lifesaving drugs is not maintained, these medicines are taxed at concessional GST rates of 5%. Revenue from GST on life and health insurance services has increased over the past five years, with ₹8,263 crore collected from health insurance alone in FY 2023-24.
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- 29 Nov 2024 05:55 PM
Course on Mastering GST Sections Effortlessly with Memory Techniques!
Whether you’re a student preparing for exams or a professional navigating GST compliance, this course will transform the way you understand and retain GST provisions. By focusing on logic, practical application, and memory retention, you’ll not only gain confidence in mastering GST but also learn tools you can use for a lifetime.
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- 29 Nov 2024 05:48 PM
GST On Educational Materials and Services
Source: https://taxguru.in/goods-and-service-tax/gst-educational-materials-services.html
The Ministry of Finance provided detailed insights on GST applicability to education-related materials and services. Services by educational institutions, including pre-school, higher secondary, and vocational courses, are exempt from GST. Exemptions also apply to printed materials like books, Braille books, newspapers, and children’s activity books. Furthermore, services such as student transport, catering, and cleaning for schools up to higher secondary are GST-exempt, alongside affiliation services provided by educational boards to government schools, effective October 2024. However, commercial training and coaching services are taxed at 18% GST.
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- 29 Nov 2024 05:43 PM
RBI to conduct variable reverse repo rate auction amid liquidity deficit
The deficit in the system came after two months on account of goods and services tax payments and forex outflows.
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- 29 Nov 2024 05:40 PM
Petroleum ministry recommends GST on natural gas
Summary
It has not yet been decided whether it will be part of the agenda of the GST Council’s next meeting scheduled in December
The petroleum and natural gas ministry has recommended the inclusion of natural gas in the goods and services tax (GST) framework to the finance ministry, an official aware of the development said on Thursday.
- 22 Nov 2024 05:32 PM
Free Webinar: Invoice Management System from Oct 1, 2024 – Register Now
Summary: The Invoice Management System (IMS), launched on October 1, 2024, aims to simplify the management of invoices and input tax credits under GST. This webinar, scheduled for November 24, 2024, at 11 AM on YouTube, is designed for business owners, tax professionals, and finance teams seeking to streamline their GST processes. The session will cover practical insights into real-time invoice sharing,
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- 21 Nov 2024 06:27 PM
Frooti maker faces 12% revenue drop amidst tax hike challenges
The decrease in revenues and profits for Parle Agro Pvt. Ltd in FY2023-24 was due to significant tax policy changes as Appy Fizz faced a drastic fourfold GST increase, to 40% from 12%. This tax hike considerably impacted Parle Agro's pricing strategy, it said.
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- 20 Nov 2024 05:34 PM
Edible oil or cosmetic? Small coconut oil packs pose a big tax question
The seemingly trivial question is close to being answered, after winding through a tax tribunal, a government department, and India's top court for over 15 years. At stake: Heavy taxes and higher prices if the product is labelled a kitchen ingredient, and potential impact on other dual-use products.
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