GST rate

NITI Aayog supports multiple rates, cess under GST

Brushing aside criticism, NITI Aayog Vice Chairman Arvind Panagariya today supported the proposed 4-rate Goods and Services Tax (GST) structure saying it will help in dealing with any possible surge in inflation or revenue loss.

Oct 24, 2016, 23:34 PM IST

IATA moots for lower GST rate on flight tickets

Global airlines' body IATA has sought an "abated" rate of GST on flight tickets, saying the tax burden on the aviation sector was already high and the GST regime should conform to global standards and principles.

Oct 21, 2016, 16:14 PM IST

Jewellery industry seeks 1.25% GST rate for local transactions

The gem and jewellery industry has sought GST of 1.25 percent from the government for the sector besides zero duty on rough diamond imports, cut and polished diamonds exports and coloured gemstones.

Oct 19, 2016, 20:34 PM IST

superfast | 14% to be secular growth rate in GST : Arun Jaitley

Finance minister Arun Jaitley said that 14% will be secular growth rate in GST. Watch the full segment for more details.

Oct 19, 2016, 11:22 AM IST

GST Council meeting: Final decision on tax rate today

The GST Council on the first day of its three-day meeting discussed five alternatives of GST rate structure yesterday.

Oct 19, 2016, 08:53 AM IST

GST Council discusses 4-tier tax structure with lower rates on essential items

With a view to keep inflation under check, the proposal sponsored by the Centre proposed to continue exempting food items from tax as well as keep 50 percent of the common use goods in either exempt category or lower band.

Oct 18, 2016, 21:14 PM IST

Five options on GST rate structure presented to GST Council: Arun Jaitley

Beginning its crucial three-day meeting today, the GST Council is to decide on the tax rate and sort out issues like compensation formula for rollout of the new indirect tax regime from April 1, 2017.

Oct 18, 2016, 19:42 PM IST

GST Council to meet tomorrow, decide on tax rate by Thursday

The crucial three-day meeting of the all-powerful GST Council, starting Tuesday, will decide on the tax rate and sort out issues like compensation formula for rollout of the new indirect tax regime from April 1, 2017.

Oct 17, 2016, 15:08 PM IST

Standard GST rate should be applicable on small cars: SIAM

Automobile industry body Society of Indian Automobile Manufactures (SIAM) on Thursday said that it has suggested to the government that a standard GST (Goods and Services Tax) rate should be applicable on small cars.

Oct 06, 2016, 18:59 PM IST

Will meet April 1 target for GST rollout: Meghwal

Stressing that the new indirect tax regime is a major tool for improving ease of doing business, Minister of State for Finance Arjun Ram Meghwal Thursday said the government will be able to implement Goods and Services Tax (GST) from April 1, next year.

Sep 22, 2016, 15:40 PM IST

Tax rates limiting best-selling cars rollout in India: Honda

Calling for rationalisation of differential tax structures in the Indian automobile industry, Japanese auto major Honda said the "unique" system has led to skewed demand for small cars and prevented introduction of best-selling global models in the country.

Sep 21, 2016, 11:29 AM IST

Cabinet nod to GST Council; decision on rate, exemption by November

The first meeting of the Council, to be chaired by Union Finance Minister, will be held on September 22 and 23.

Sep 12, 2016, 16:30 PM IST

Half of states expected to ratify GST by early September

The Constitution amendment bill to roll out goods and services tax (GST) is expected to receive nod of about 50 percent of states by early September.

Aug 29, 2016, 05:53 AM IST

GST rate on processed foods should be low or zero: CII

The rate of GST on processed foods should be kept low or at zero as the country cannot afford to have high taxes, with food inflation already over 6 percent, industry body CII on Wednesday said.

Aug 24, 2016, 16:58 PM IST

India Inc wants GST rate below 20% to keep inflation in check

A large section of India Inc wants to keep the standard GST rate below 20 percent, and services like telecom, banking, healthcare and railways to be included in the 'merit' list to keep inflation in check.

Aug 07, 2016, 16:02 PM IST

No impact on inflation even if GST rate is 18-20%: FinMin

Finance Ministry on Thursday said that all efforts are being made to roll out GST from April 1, 2017, and allayed fears that it will have an impact on inflation even if the rate is kept at 20 percent.

Aug 04, 2016, 14:20 PM IST

GST: 1% additional tax dropped; states to get full compensation for first 5 years

The Cabinet on Thursday cleared changes in the GST Constitutional Amendment Bill, dropping 1 percent manufacturing tax and providing guarantee to compensate states for any revenue loss in the first five years of rollout of the proposed indirect tax regime.

Jul 28, 2016, 12:26 PM IST