Page 2 - Gst Rates

After Budget newsflow on GST rates, demand hold key for ITC stock

Shares of the cigarette maker hit 52-week high after the Budget left taxes unchanged

At least 1% GST dues to be paid in cash if monthly sales top Rs 5 mn

While calculating the turnover threshold, sales from GST exempt goods and zero rates supply would not be included

GST not a perfect system, requires changes, rate rationalisation: N K Singh

Says finance commission's job is to reconcile divergent objectives

Starbucks guilty of overcharging customers by Rs 1.04 cr: Monitoring agency

Did not pass on the benefit of reduced GST rates to consumers to the tune of Rs 1.04 crore and escaped penalty

Multiplex chain PVR found guilty of profiteering, but escapes penalty

PVR escaped penalty because it voluntarily deposited Rs 13.72 lakh along with interest worth Rs 35,800 to the consumer welfare fund

Auto stocks rally as GST Council set to mull tax cut on two-wheelers

The GST meeting on September 17 might take up the two-wheeler rate issue to spur sales ahead of the festive season

Gujarat HC allows tax credit on services under GST, signalling help to cos

Court strikes down an explanation Central GST rule, which the central government used to deny claim on input tax credit on services in case of inverted duty structure

Will consider corporation tax rate benefit extension: FM Sitharaman

Says GST rate reduction to go to Council; Council is likely to meet on Friday through video conferencing.

Govt unlikely to press for hike in GST rates for non-essentials next month

However it will have to find ways in which essential and non-essential items can be segregated

Centre seeks India Inc's view on economic revival amid Covid-19 outbreak

Key demands and suggestions include improving liquidity, cutting customs duties and goods and services tax (GST) rates, expediting all refunds and a halt on tax scrutiny

Covid-19 impact: Travel, hospitality stare at revenue loss of Rs 5 trillion

With 40 million jobs at risk, the industry has sought a bailout package

Don't hike GST rates amid tough times, says West Bengal FM Amit Mitra

He said the proposed hike, aimed to correct the inverted duty structure, must be deferred as markets in India were facing a double whammy of stagflation and coronavirus

ICEA writes to FM, major states asking not to hike GST rate on cellphones

The letter alleged that there are "distortions in the GST rate on components" which ICEA finds illogical

HC clears confusion over contentious issue of composite supply under GST

The company went to the Kerala high court against the judgement. The high court wondered as to how AAR came to the conclusion that it was a composite supply

New political landscape leaves BJP at mercy of others in GST Council

The party controls 15 states and is short of the 75% vote share needed to pass decisions

NBFCs need to be incentivised to become banks, says Hiranandani Group MD

'The government's decision to reduce corporation tax rate to 17% for new companies is faulty', said Hiranandani

States against GST slab, rate revamp until revenue stabilises: Sushil Modi

Says now onwards GST Council will consider any change in tax rates only once a year instead of in each and every meeting

Re-think GST: No economy can afford to persist with a failed tax experiment

Let's pretend no more that the system isn't broken. The Centre needs to break heads in the GST Council and work out new slabs and rates (the fewer the better) and make a fresh start, writes T N Ninan

In a first, GST Council votes to tax lotteries at uniform rate of 28%

All the earlier decisions by the Council had been taken through consensus

Higher GST rate on mobiles, fabrics likely to boost revenue collection

The GST rate on mobile phones is 12%, whereas that on phone parts and batteries is 18%