Central Sales Tax
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CBSE Exempted From Paying Income Tax From 2020 To 2025
The Finance Ministry has exempted the Central Board of Secondary Education (CBSE) from paying income tax on earnings from examination fees, sale of text books and publications, besides others
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Petrol, Diesel Prices Fall Further After BJP-Ruled States Lower Fuel Taxes
The central government's decision to cut excise duty by reducing local sales tax (VAT) rates was matched by 22 states and Union Territories reducing VAT rates in different proportions.
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Rs 335 Crore Black Money Found After Raids On Pune Tobacco Group
The Income Tax Department has detected about Rs 335 crore undisclosed income after it raided a Pune-based business group engaged in packaging and sale of tobacco products and related items, the Central Board of Direct Taxes said on Monday.
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Centre's Climbdown On GST, Nirmala Sitharaman Writes To States
After four months of confrontation over GST (Goods and Services Tax) dues, the central government has decided to borrow up to ₹ 1.1 lakh crore on behalf of states. Finance Minister Nirmala Sitharaman has, in a letter to states, explained the reason for the turnaround.
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IPO Will Make LIC Disinvestment More Transparent: Nirmala Sitharaman
The Finance Minister further said that the central government was seeking ways to decriminalise the tax laws in the country.
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Nitin Gadkari Says Hybrids Must Get Same Reduced GST Benefit As EVs
Prior to GST, hybrid vehicles were taxed 30.3 percent (12.5 percent excise duty, 12.5 percent value-added tax, 2 percent central sales tax and 1 percent national calamity contingent duty). Under GST, it attracts 28 percent tax and 15 percent cess like big petrol and diesel luxury cars.
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Government's Dependence On RBI Payout Leaves Budget Funding At Risk
Slower economic growth has made it harder for the government to improve tax collections and the boost from the central bank and assets sale program are unlikely to be repeated.
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CII Urges Government To Bring Petroleum, Natural Gas Products Under GST
As per the earlier provisions of CST Act, a purchaser can make the interstate purchase of the non-GST goods by availing concessional central sales tax rate of 2 per cent against Form-C.
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GSTR-3B Filing And How to Enrol For GST. Details Here
Existing payers of levies such as central excise, service tax, state sales tax or VAT, entry tax and luxury tax are required to take up GST enrolment.
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After 17-Year Roller Coaster Ride, GST To Become Reality On July 1
GST will replace more than a dozen central and state levies like factory-gate, excise duty, service tax and local sales tax or VAT.
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GST To Subsume Sales Tax, VAT, Service Tax, And Much More. Details Here
GST is a single tax to promote trade and industry, replacing multiple levies from the manufacturer to supplier to customer, the Central Board of Excise and Customs said.
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Arun Jaitley Hints At No Review Of GST Rate On Hybrid Cars
Even though hybrid cars are exempt from infrastructure cess, there is a 1 per cent National Calamity Contingent Duty, 2 per cent Central Sales Tax and 12.5 per cent VAT, which takes the total incidence to 30.3 per cent.
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Race Against Time To Avoid Sales Tax Upheaval Across India
The success of one of the world's largest and most complex tax reforms depends on the glitch-free performance of the goods and services tax network (GSTN) -- the IT backbone of the new system that will eliminate a complex web of state and central taxes and make India a unified market.
-
GST Reform Nears Fruition As Rajya Sabha Clears Key Legislations
The GST is one of the most significant reforms since India opened its economy in the early 1990s that will harmonise a mosaic of state and central levies into a national sales tax.
-
Demonetisation, GST To Make Society Tax Compliant: Arun Jaitley
Currently, the indirect taxation regime provides for central government taxing manufacturing and services while states levy tax on sale of commodities.
-
CBSE Exempted From Paying Income Tax From 2020 To 2025
The Finance Ministry has exempted the Central Board of Secondary Education (CBSE) from paying income tax on earnings from examination fees, sale of text books and publications, besides others
-
Petrol, Diesel Prices Fall Further After BJP-Ruled States Lower Fuel Taxes
The central government's decision to cut excise duty by reducing local sales tax (VAT) rates was matched by 22 states and Union Territories reducing VAT rates in different proportions.
-
Rs 335 Crore Black Money Found After Raids On Pune Tobacco Group
The Income Tax Department has detected about Rs 335 crore undisclosed income after it raided a Pune-based business group engaged in packaging and sale of tobacco products and related items, the Central Board of Direct Taxes said on Monday.
-
Centre's Climbdown On GST, Nirmala Sitharaman Writes To States
After four months of confrontation over GST (Goods and Services Tax) dues, the central government has decided to borrow up to ₹ 1.1 lakh crore on behalf of states. Finance Minister Nirmala Sitharaman has, in a letter to states, explained the reason for the turnaround.
-
IPO Will Make LIC Disinvestment More Transparent: Nirmala Sitharaman
The Finance Minister further said that the central government was seeking ways to decriminalise the tax laws in the country.
-
Nitin Gadkari Says Hybrids Must Get Same Reduced GST Benefit As EVs
Prior to GST, hybrid vehicles were taxed 30.3 percent (12.5 percent excise duty, 12.5 percent value-added tax, 2 percent central sales tax and 1 percent national calamity contingent duty). Under GST, it attracts 28 percent tax and 15 percent cess like big petrol and diesel luxury cars.
-
Government's Dependence On RBI Payout Leaves Budget Funding At Risk
Slower economic growth has made it harder for the government to improve tax collections and the boost from the central bank and assets sale program are unlikely to be repeated.
-
CII Urges Government To Bring Petroleum, Natural Gas Products Under GST
As per the earlier provisions of CST Act, a purchaser can make the interstate purchase of the non-GST goods by availing concessional central sales tax rate of 2 per cent against Form-C.
-
GSTR-3B Filing And How to Enrol For GST. Details Here
Existing payers of levies such as central excise, service tax, state sales tax or VAT, entry tax and luxury tax are required to take up GST enrolment.
-
After 17-Year Roller Coaster Ride, GST To Become Reality On July 1
GST will replace more than a dozen central and state levies like factory-gate, excise duty, service tax and local sales tax or VAT.
-
GST To Subsume Sales Tax, VAT, Service Tax, And Much More. Details Here
GST is a single tax to promote trade and industry, replacing multiple levies from the manufacturer to supplier to customer, the Central Board of Excise and Customs said.
-
Arun Jaitley Hints At No Review Of GST Rate On Hybrid Cars
Even though hybrid cars are exempt from infrastructure cess, there is a 1 per cent National Calamity Contingent Duty, 2 per cent Central Sales Tax and 12.5 per cent VAT, which takes the total incidence to 30.3 per cent.
-
Race Against Time To Avoid Sales Tax Upheaval Across India
The success of one of the world's largest and most complex tax reforms depends on the glitch-free performance of the goods and services tax network (GSTN) -- the IT backbone of the new system that will eliminate a complex web of state and central taxes and make India a unified market.
-
GST Reform Nears Fruition As Rajya Sabha Clears Key Legislations
The GST is one of the most significant reforms since India opened its economy in the early 1990s that will harmonise a mosaic of state and central levies into a national sales tax.
-
Demonetisation, GST To Make Society Tax Compliant: Arun Jaitley
Currently, the indirect taxation regime provides for central government taxing manufacturing and services while states levy tax on sale of commodities.
