Page 108 - Gst

Economy class air travel to attract 5% GST; business class 12%

Air travel currently attracts tax rate of 6% and 9% for economy and non-economy travel respectively

No impact of GST on renewables, no need for lower taxes: Goyal

The new rates of solar power are even below the average rate of coal-based power

GST for services: Health, edu stay exempt; others taxed at 5, 12, 18, 28%

Transport to be taxed at 5%; restaurants with turnover of Rs 50 lakh or below will face 5% tax

Worried about GST rates? Know what gets cheaper and costlier from July 1

By the rates announced so far, it seems consumers can rest assured most items will become cheaper

GST rates: Consumer sector the biggest winner in the rates announced so far

While some near-term tax gains are partly factored in, bigger gains are more structural in nature

GST rates are in line with expectations: Kotak Research

Little deviation from current effective tax rates, except in case of a few consumer products

GST Council finalises tax rates on 80-90% goods, services

The GST will be a national sales tax that will be levied on consumption of goods or use of services

GST rollout: CBEC to be revamped to curb tax evasion

CBEC has reorganised its existing central excise and service tax field formations

GST panel works out rates for 6,000 items

Fitment of contentious goods to be finalised this week

Time for govt to stand its ground on GST

GST Council would do well to recognise the imperfections in the new tax regime

GST best bet for states to improve finances, says RBI

Regulator identified debt sustainability of states to be the key factor in shaping finances

Hope on GST to curb cigarette smuggling: Tobacco Institute of India

The coming national goods and services tax (GST) will, says the cigarette industry, help curb smuggling of items in the segment.Cigarettes, both duty paid and tax paid, comprise 15 per cent of the entire tobacco market in India, which was estimated at Rs 144,000 crore in 2015.The Tobacco Institute of India (TII), representing 98 per cent of duty-paying cigarette makers, says the country has become the fastest growing and fourth largest illegal cigarette market in the world, on account of excessive taxation."While, the legal cigarette industry continues to decline as a consequence of successive years of high excise duty rate increases, cumulatively going up by 125 per cent since 2012-13. During the past five years, the legal cigarette industry has seen more than 25 per cent shrinkage in volumes," says Syed Mahmood Ahmad, director at TII. "Excessive taxation leading to the huge arbitrage opportunity has provided an enormous incentive to smuggling syndicates and undermined the legal ...

Digvijaya Singh urges Arun Jaitley to change CGST bill provisions

Says provisions would affect India's ranking on ease of doing business

Maharashtra FM calls Uddhav Thackeray, seeks Shiv Sena support for GST Bill

We will hold a presentation of the GST Bill for our legislators, said Mungantiwar

Creativity's case for exempt GST

A GST on art and performances will give little revenue to govt as market for art is still very small

GST will make domestic companies more competitive: Hasmukh Adhia

Revenue Secretary Hasmukh Adhia is hopeful of a smooth transition to the GST regime and says it will help domestic firms to become more competitive apart from streamlining the taxation for all business activities. "Unlike in other countries, the transition to the new tax regime would be smooth here because there are multiple points of taxation in the country. Hence, the possibility of sudden spurt in inflation is remote," said Adhia, who is spearheading the implementation of the Goods and Services Tax. He was speaking at a conference on GST organised by the Federation of Gujarat Industries and the chief commissioner, Central Excise, Customs & Service Tax, Vadodara zone, here last evening. Explaining GST's importance for giving a boost to the manufacturing sector, he said, "Cascading taxes along with non-availability of input credit meant that domestically produced goods found it harder to compete with imported ones. "GST is a multi-point tax on value addition with seamless ...

Reviewed Foreign Trade Policy to coincide with GST rollout: Sitharaman

Committee to submit suggestions to GST Council on treatment of trade scheme and tax rates

Art in the time of GST

Art, in India, is still absent from the public space and exists outside the mainstream

Haryana Assembly passes GST Bill

GST would be implemented in the entire country from July 1, 2017

GST implementation: July 1, 2017 is only the beginning

The challenge could be in getting vendors & supply chain partners compliant in time, says K Shankar