GST rate

Let biscuits be in lowest slab under GST: Manufacturers

Biscuits should be put in the lowest slab under the upcoming GST regime in a bid to encourage ease of doing business and liberal FDI policy.

Apr 06, 2017, 19:34 PM IST

GST heads for July 1 rollout, Council to finalise rules for new tax regime today

With GST rollout looking imminent from July 1 after the Lok Sabha's approval, the Centre and states will on Friday sit together to finalise rules and regulations of the new indirect tax regime.

Mar 30, 2017, 19:57 PM IST

GST draft bills tabled in Parliament; peg peak rate at 40%

Finance Minister Arun Jaitley on Monday introduced in Lok Sabha four bills on Goods and Services Tax, providing for a maximum GST rate of 40 percent, an anti- profiteering authority and arrests for evading taxes.

Mar 27, 2017, 17:59 PM IST

GST Bill to make peak tax rate 40%, slabs intact for now

The GST levy may go up to 40 percent after the GST Council proposed raising the peak rate in the Bill to 20 percent, from the current 14 percent, to obviate the need for approaching Parliament for any change in rates in future.

Mar 02, 2017, 15:18 PM IST

'4-tier GST rate may lead to classification disputes'

The four-tier GST rate structure will open up floodgates of classification disputes with tendency among businesses to demand lower rate for their goods or services, says a research paper.

Feb 13, 2017, 16:08 PM IST

Rail fares, eating out, mobile bills likely to get more expensive from April 1

Whatever good or bad news the Budget 2016-17 may roll out for common man, but what seems likely that service tax rate will move north from the existing 15 percent( inclusive of Krishi Cess and Swach Bharat Cess).

Jan 20, 2017, 15:14 PM IST

There is constitutional compulsion before states to roll out GST before September 16, 2017: Arun Jaitley

Finance Minister Arun Jaitley said on Friday that rolling out GST before September 16 has become a constitutional necessity as states will not be able to collect their share of taxes henceforth,there is no scope to delay the decision any further.

Dec 03, 2016, 09:53 AM IST

State tax officers demand fair share in GST; to work on holiday

In a unique way of protest, about 2.36 lakh officers and employees working with commercial and sales tax departments of various states will work on Sunday to press for their demand of having a fair share in the administration of taxes under the proposed Goods and Services Tax (GST).

Nov 14, 2016, 19:14 PM IST

Centre to share model GST law with states on Tuesday

The Centre will share the draft model GST law with the states on Tuesday as it prepares for the rollout of Goods and Services Tax (GST) from April 1 next year, CBEC Chairman Najib Shah said today.

Nov 14, 2016, 18:48 PM IST

Tourism will suffer at 18% GST on rooms, warns Hotel Industry

The Hotel and Restaurant Association of Western India (HRAWI) Monday said the government's four-tier structure in Good and Services Tax (GST), in which the service sector will be taxed at 18 percent, will cause the tourism sector a major setback.

Nov 07, 2016, 21:38 PM IST

GST Council meet inconclusive as state FMs want more tax data

Meeting of the all powerful GST Council failed to reach any conclusion on the dual control issue as states objected to non-availability of updated data on assessees of service tax, excise and VAT.

Nov 04, 2016, 23:04 PM IST

Centre, states failed to reach consensus on control of assessees under GST

For the second time in as many weeks, the Centre and states Friday failed to reach a consensus on who will control which set of assessees under GST, a disagreement that threatens to derail the April 1 target for rollout of the new indirect tax regime.

Nov 04, 2016, 20:18 PM IST

GST rates finalised: Know what gets cheaper, what gets dearer

Check out which items will get cheaper and which will get dearer after the 4-tier GST tax structure of 5, 12, 18 and 28 percent got finalised.

Nov 04, 2016, 09:06 AM IST

GST rates: Five key points you must know

The GST rates will come as a relief for the common man as essential items including food will be taxed at zero rate.

Nov 03, 2016, 18:05 PM IST

GST rates: Aerated drinks, Tobacco products and SUVs to be costlier

While a sin tax of 40 percent was imposed on soft drinks, tobacco products and Pan Masala, a 65 percent tax was imposed on SUVs.

Nov 03, 2016, 17:41 PM IST

GST Council crucial 2-day meet begins today; to discuss tax rates, dual control

With barely a fortnight left for Parliament's Winter Session, the GST Council will begin its crucial 2-day meeting tomorrow to decide on tax rate including the levy of cess and sort out the vexed issue of jurisdiction over assessees.

Nov 03, 2016, 09:25 AM IST

GST Council to begin 2-day meet Thursday; to discuss tax rates, dual control

The meeting will be chaired by Finance Minister Arun Jaitley where the Centre is likely to press its proposal for 4-tier tax structure of 8, 12, 18 and 26 percent, the peak rate being for FMCG and consumer durables.

Nov 02, 2016, 19:19 PM IST

GST rollout: Council asked to remove anomalies across sectors

A paper submitted to the GST Council, scheduled to meet November 3-4, has suggested that sharp anomalies in the taxation structure across different industries such as telecom, tobacco and textiles should be addressed as the country moves towards the goods and services tax (GST) regime.

Nov 02, 2016, 16:18 PM IST

Do not levy cess but hike GST rate by 1-2%, ASSOCHAM tells Arun Jaitley

Industry chamber Assocham has made a pitch to Finance Minister Arun Jaitley not to levy cess, but hike GST rate by 1-2 percent to garner additional resources to compensate states for any revenue loss on rollout of the new regime from April next year.

Nov 01, 2016, 20:41 PM IST