Page 2 - Gst Council

Structural changes

GST system needs careful interventions

GST Council may do away with 5% rate; move items to 3% and 8% slabs: Report

Although various options are under consideration, the Council is likely to settle for an 8% GST for most items that currently attract 5% levy, say sources

GST Council meeting unlikely this month as some issues couldn't be taken up

Currently, GST is a four-tier structure attracting tax rates of 5, 12, 18, and 28 per cent

GST Council did not recommend reducing GST on health insurance: FM

At present, GST on health insurance services is levied at a standard rate of 18 per cent

GST collection rises to an all-time high of Rs 1.42 trillion in March

The robust mop-up could be attributed to the government's tightened compliance measures and crackdown on GST evaders and fake bills

GST Council should not be politicised, says FM Nirmala Sitharaman

Sitharaman said that the GST Council should not be politicised as it is a body in which every finance minister from every state sits and decides on how the disbursements happen.

GST Council may consider raising lowest slab to 8%, rationalise tax slabs

The GST Council in next meet may look at raising the lowest tax slab to 8%, from 5%, and prune the exemption list in the GST regime

Govt likely to propose 18% GST on crypto mining, trading entities

Though the date for the next GST Council meeting has not been set, it could happen in March

GST Council defers rate hike in textiles, refers issues to ministers group

'We will retain the status quo', says Finance Minister Nirmala Sitharaman after emergency meeting in Delhi.

GST Council meeting sans talks on Omicron, life saving Covid drugs

The meeting was held on Friday under the chairmanship of Union Finance Minister Nirmala Sitharaman

Top headlines: GST hike on textiles on hold; full nod sought for Covishield

Business Standard brings you the top headlines on Friday

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GST Council defers hike in rates on textiles from 5% to 12%

Several states said in the meeting that there was no clarity on GST to be imposed on apparel, clothing and textile products, says Andhra FM

GST Council to discuss rollback of inverted duty structure in textiles

Former West Bengal Finance Minister Amit Mitra and Telangana Industries Minister K T Rama Rao had earlier urged the Centre to roll back the proposed GST rate hikes in textiles

TN FM seeks unconditional borrowings of 5% GSDP for FY23 owing to Covid

TN FM also seeks merging cesses, surcharges into pool of taxes shared with states

GST Council meet on Dec 31, to discuss rate rationalisation

The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on December 31 and discuss, among other things, report of the panel of state ministers on rate rationalisation

Amit Mitra urges PM to call GST meet to reverse tax hike on textiles

He had accused the Centre of not discussing the issue in the GST council before announcing the hike

Avoid policy adventurism

New provisions will hurt the GST system

'No recommendation by GST Council to bring petroleum products under GST'

Excise duty on petroleum products is calibrated time to time for generating resources for infrastructure and other developmental items of expenditure: Minister of State for Finance Pankaj Chaudhary

BS Awards: Debroy bats for GST Council-like body for expenditure reforms

He said the State Finance Commission's recommendations were not given much attention even as two-thirds of the public expenditure occurred at the state level