- 03 Dec 2024 06:40 PM
- New
Economy News Today highlights on December 2, 2024: GST on cigarettes, tobacco, aerated beverages likely to be hiked: Here's what we know
Economy News Today highlights on December 2, 2024: From key announcements to major events impacting the micro and macro economy of the country and the world, this platform provides you with all the latest updates on the economy.
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- 03 Dec 2024 06:44 PM
- New
GST 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.
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- 03 Dec 2024 06:51 PM
- New
Shares to buy or sell: Sachin Gupta of 5paisa recommends Natco Pharma, Sunflag Iron today - December 3
Shares to buy or sell: Sachin Gupta of 5paisa has recommended two stocks on Tuesday - Natco Pharma Ltd, and Sunflag Iron and Steel Co Ltd.
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- 02 Dec 2024 07:09 PM
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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- 02 Dec 2024 06:56 PM
Economy News Today highlights on December 1, 2024: GST collection for November rises by 8.5% to ₹1.82 lakh crore
Economy News Today highlights on December 1, 2024: From key announcements to major events impacting the micro and macro economy of the country and the world, this platform provides you with all the latest updates on the economy.
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- 02 Dec 2024 07:06 PM
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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- 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 05:40 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.
- 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 05:51 PM
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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