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28% GST On Online Gaming To Yield Rs 20,000 Crore Annually: Centre
The exchequer would get an estimated additional revenue of Rs 20,000 crore annually following the decision of the GST Council to levy 28 per cent tax on full bet value on online gaming, said Revenue Secretary Sanjay Malhotra today.
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GST Council Cuts Rates On COVID Supplies, No Tax On Black Fungus Medicine
GST Council Meeting, chaired by Finance Minister Nirmala Sitharaman, reduced the tax rates on major COVID-related essential items, however, vaccines will continue to attract a five per cent GST
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Centre Waives Late Fees, Reduces Interest Rates On GST For March, April
Taxpayers with a turnover exceeding Rs 5 crore will have an additional 15 days to file their monthly summary return GSTR-3B without paying any late fees
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Kerala Imposes Flood Cess In Addition To GST, A First In India
A year after the worst floods in almost a Century, Kerala has become the first state to impose an additional cess. Starting August 1, Kerala will be implementing 1 per cent Flood Cess, apart from the Goods and Services Tax (GST), with the aim to generate funds for rebuilding the state.
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Budget 2019: Electric Vehicles To Get More Affordable
The NDA 2.0 government made some major announcements for pushing electric mobility in India as part of the Union Budget 2019. While the Indian auto sector did not witness any dramatic changes in tax norms, Finance Minister Nirmala Sitharaman recommended reducing the GST rate on electric vehicles from the current 12 per cent to five per cent in a bi...
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Budget 2019: Government Recommends Reduction Of GST From 12% To 5% On Electric Vehicles
The Union Budget for 2019 has been announced and Finance Minister Nirmala Sitharaman made a number of promises for the overall development of the country's economy. While there haven't been major incentives for conventional vehicles in the auto sector, the government has recommended changes to the Goods Services Tax (GST) council for electric vehic...
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From PM Modi, 6 Pre-Election Perks Including GST Help For Small Businesses
The government on January 10 announced a change in Goods and Services Tax (GST) rules that would exempt an additional 20 lakh small businesses.
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Slabs May Reduce To 3 As GST Simplifies In Long-Term: Sanjeev Sanyal
In the long-term, Goods and Services Tax (GST) slabs may come down to three, in addition to the exempted category, Sanjeev Sanyal, Principal Economic Adviser to the Finance Ministry, today said.
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E-Way Bill Rolls Out: Ten Things To Know
E-Way Bill came into effect from April 1, 2018 for all inter-state movement of goods. You can register on the E-way bill portal ewaybillgst.gov.in by using your GSTIN. The E-way bill is required to be generated only where the value of the consignment exceeds Rs 50,000 which includes tax, but doesn't include value of exempted goods. Validity of E-wa...
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Opinion: Tax Laws Should Ensure Payment Of GST Under Reverse Charge
The government might consider putting an additional check to ensure that business entities pay the GST accurately and in time.
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Opinion: Government Posed With Growth Vs Fiscal Deficit Conundrum
The Budget will have to find ways to generate additional tax revenue while delivering on the promise made in its first budget of a cut in corporate tax.
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GST Cess: All Land Rover SUVs Get Price Hikes
Land Rover is possibly one of the most affected brands when it comes to the new GST cess rates in India. Considering the fact that all Land Rover vehicles are large SUVS that are longer than the 4-metre length requirement that is needed for a lower cess bracket, every single SUV has received a price hike. Prices of the newly launched Discovery too ...
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GST Cess: Jeep Compass SUV Prices Increased By Upto Rs 72,000
With the new additional 7 per cent cess levied on all SUVs, manufactures in India have been forced to increase prices of their vehicles. The recently launched Jeep Compass SUV that has already seen over 10,00 bookings has also undergone a price hike. The Jeep Compass will be pricier by between Rs 21,000 to Rs 72,000 depending on the variant and eng...
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10 Per Cent Cess Hike On Larger Cars & SUVs: Ten Things To Know
The new Goods and Services Tax regime had seen a realignment of taxation in the passenger car space to 28 per cent GST. However different segments of vehicles also attracted an additional cess - 1 per cent for small petrol cars / 3 per cent for small diesel cars (under 4 metres in length and certain engine capacity), and 15 per cent for larger cars...
-
Mercedes-Benz Warns Of Prices Going Back To Pre-GST Level
Under the GST regime, large cars with engine capacity of greater than 1,500 cc and SUVs with length of more than four metres and engine greater than 1,500 cc attracts cess of 15 per cent in addition to the top tax rate of 28 per cent.
-
28% GST On Online Gaming To Yield Rs 20,000 Crore Annually: Centre
The exchequer would get an estimated additional revenue of Rs 20,000 crore annually following the decision of the GST Council to levy 28 per cent tax on full bet value on online gaming, said Revenue Secretary Sanjay Malhotra today.
-
GST Council Cuts Rates On COVID Supplies, No Tax On Black Fungus Medicine
GST Council Meeting, chaired by Finance Minister Nirmala Sitharaman, reduced the tax rates on major COVID-related essential items, however, vaccines will continue to attract a five per cent GST
-
Centre Waives Late Fees, Reduces Interest Rates On GST For March, April
Taxpayers with a turnover exceeding Rs 5 crore will have an additional 15 days to file their monthly summary return GSTR-3B without paying any late fees
-
Kerala Imposes Flood Cess In Addition To GST, A First In India
A year after the worst floods in almost a Century, Kerala has become the first state to impose an additional cess. Starting August 1, Kerala will be implementing 1 per cent Flood Cess, apart from the Goods and Services Tax (GST), with the aim to generate funds for rebuilding the state.
-
Budget 2019: Electric Vehicles To Get More Affordable
The NDA 2.0 government made some major announcements for pushing electric mobility in India as part of the Union Budget 2019. While the Indian auto sector did not witness any dramatic changes in tax norms, Finance Minister Nirmala Sitharaman recommended reducing the GST rate on electric vehicles from the current 12 per cent to five per cent in a bi...
-
Budget 2019: Government Recommends Reduction Of GST From 12% To 5% On Electric Vehicles
The Union Budget for 2019 has been announced and Finance Minister Nirmala Sitharaman made a number of promises for the overall development of the country's economy. While there haven't been major incentives for conventional vehicles in the auto sector, the government has recommended changes to the Goods Services Tax (GST) council for electric vehic...
-
From PM Modi, 6 Pre-Election Perks Including GST Help For Small Businesses
The government on January 10 announced a change in Goods and Services Tax (GST) rules that would exempt an additional 20 lakh small businesses.
-
Slabs May Reduce To 3 As GST Simplifies In Long-Term: Sanjeev Sanyal
In the long-term, Goods and Services Tax (GST) slabs may come down to three, in addition to the exempted category, Sanjeev Sanyal, Principal Economic Adviser to the Finance Ministry, today said.
-
E-Way Bill Rolls Out: Ten Things To Know
E-Way Bill came into effect from April 1, 2018 for all inter-state movement of goods. You can register on the E-way bill portal ewaybillgst.gov.in by using your GSTIN. The E-way bill is required to be generated only where the value of the consignment exceeds Rs 50,000 which includes tax, but doesn't include value of exempted goods. Validity of E-wa...
-
Opinion: Tax Laws Should Ensure Payment Of GST Under Reverse Charge
The government might consider putting an additional check to ensure that business entities pay the GST accurately and in time.
-
Opinion: Government Posed With Growth Vs Fiscal Deficit Conundrum
The Budget will have to find ways to generate additional tax revenue while delivering on the promise made in its first budget of a cut in corporate tax.
-
GST Cess: All Land Rover SUVs Get Price Hikes
Land Rover is possibly one of the most affected brands when it comes to the new GST cess rates in India. Considering the fact that all Land Rover vehicles are large SUVS that are longer than the 4-metre length requirement that is needed for a lower cess bracket, every single SUV has received a price hike. Prices of the newly launched Discovery too ...
-
GST Cess: Jeep Compass SUV Prices Increased By Upto Rs 72,000
With the new additional 7 per cent cess levied on all SUVs, manufactures in India have been forced to increase prices of their vehicles. The recently launched Jeep Compass SUV that has already seen over 10,00 bookings has also undergone a price hike. The Jeep Compass will be pricier by between Rs 21,000 to Rs 72,000 depending on the variant and eng...
-
10 Per Cent Cess Hike On Larger Cars & SUVs: Ten Things To Know
The new Goods and Services Tax regime had seen a realignment of taxation in the passenger car space to 28 per cent GST. However different segments of vehicles also attracted an additional cess - 1 per cent for small petrol cars / 3 per cent for small diesel cars (under 4 metres in length and certain engine capacity), and 15 per cent for larger cars...
-
Mercedes-Benz Warns Of Prices Going Back To Pre-GST Level
Under the GST regime, large cars with engine capacity of greater than 1,500 cc and SUVs with length of more than four metres and engine greater than 1,500 cc attracts cess of 15 per cent in addition to the top tax rate of 28 per cent.
