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Online Games Could Soon Levy Higher GST; Government Planning to Classify Them as Games of Skills, Chance
The Finance Ministry is considering classifying online gaming into categories of skill and chance, and levying a differential rate of GST, an official said. Currently, online gaming attracts 18 percent GST. The tax is levied on gross gaming revenue, which is the fees charged by online gaming portals.
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Big Change In Tax On SUVs In GST Council's Latest Meeting
The Goods and Services Tax (GST) Council on Saturday decided to have a single definition across all states in the country for sports utility vehicles, attracting a higher tax rate.
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Higher Taxes Impact Auto Sector, Need To Lower GST Rates: Revenue Secretary
"I quite agree with automotive sector. Two-wheelers and four-wheelers were not only charged 28 per cent Goods and Services Tax (GST) but we also charged cess, which is much more and as I see it will continue for two more years," he said.
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Budget 2021: Rationalise GST On Food Delivery To 5%, Says Industry Body
Customers taking food delivery at their home or office are paying 13 per cent higher price compared to customers who walk down to restaurants as dine-in tax rate is 5 per cent
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18% GST On Frozen Parottas: Government Sources Explain Why
The ordinary or any parotta served by restaurant for eating there or for takeaway would be taxed at a GST rate of 5 per cent just like the plain roti, government sources said a day after social media users debated the government's move to put frozen parotta on a higher bracket than roti under the goods and services tax or GST.
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Gold Price Today: Gold Futures Edge Higher To Rs 45,800 Per 10 Grams Mark
According to Mumbai-based industry body IBJA, the opening rate of gold jewellery stood at Rs 45,914 per 10 grams - excluding Goods and Services Tax (GST).
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TVS, Hero And Bajaj Seek GST Rate Cut On Two-Wheelers
Indian two-wheeler manufacturers seek reduction in Goods and Service Tax (GST) rate on motorcycles and scooters.
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GST Collections Cross Rs 1 Lakh Crore Mark In October: Arun Jaitley
Arun Jaitley attributed the rise in the tax mop-up to lower tax rates and higher compliance.
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India Inc Gets Pricing Mojo Back In Road To Recovery After Cash Ban, GST
After the twin shocks of a cash ban in 2016 and the chaotic introduction of a consumption tax last year, India's economic recovery is gaining momentum. Businesses are taking advantage of the solid demand to raise prices, lifting profits, but also fanning inflation at a time of higher oil prices and a currency slump.
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In Budget 2018, Health Care For 10 Crore Families, Farmers Gain Too: 10 Facts
As Finance Minister Arun Jaitley rolled out a Budget focused on farmers and the rural poor today, while boosting jobs and private investment, he has pegged the fiscal deficit target for next year at 3.3 per cent, higher than the earlier 3 per cent goal. Presenting the government's last full-year budget before the 2019 general elections and ahead of...
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Booked A Flat Before July 1? Builders Can't Charge More For GST
Earlier flat buyers used to pay a service tax rate of 4.5 per cent and a VAT rate of 1-2 per cent for purchase of flats.
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Gold Discount Widens To Maximum In Seven Months; Higher Prices Hurt Demand
As part of a new nationwide sales tax regime that kicked in on July 1, the GST on gold has jumped to 3 percent from 1.2 percent previously.
-
Toyota Says No change In Plans For Hybrid Vehicles Post GST
Toyota Kirloskar Motor (TKM) today said it will not change its plans for hybrid vehicles in India despite increase in tax rates on the category of vehicles under GST resulting in higher prices. Under the new tax regime, prices of the company's popular hybrid sedan Camry have gone up by an average of Rs. 3 lakh.
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GST Prices: Two-Wheeler Industry Welcomes New Taxation System
The Goods and Services Tax, or GST impact on prices of two-wheelers have certainly affected prices, but only marginally. A few two-wheeler manufacturers have already announced prices with GST benefits before the announcement of the new taxation system on 1 July 2017. Here's what the industry has to say about the new taxation norm.
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Hyundai India Sees Drop In Sales For June 2017
Hyundai India has seen a drop in sales for cars sold in June 2017 as compared to the same month last year. Sales numbers for the June 2017 vs Sales for May 2017 are also substantially lower. As compared to June 2016 (39,807 units), Hyundai India only sold 37,562 units, which is a drop of 5.6 per cent. Compared to May 2017 though, which registered a...
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Online Games Could Soon Levy Higher GST; Government Planning to Classify Them as Games of Skills, Chance
The Finance Ministry is considering classifying online gaming into categories of skill and chance, and levying a differential rate of GST, an official said. Currently, online gaming attracts 18 percent GST. The tax is levied on gross gaming revenue, which is the fees charged by online gaming portals.
-
Big Change In Tax On SUVs In GST Council's Latest Meeting
The Goods and Services Tax (GST) Council on Saturday decided to have a single definition across all states in the country for sports utility vehicles, attracting a higher tax rate.
-
Higher Taxes Impact Auto Sector, Need To Lower GST Rates: Revenue Secretary
"I quite agree with automotive sector. Two-wheelers and four-wheelers were not only charged 28 per cent Goods and Services Tax (GST) but we also charged cess, which is much more and as I see it will continue for two more years," he said.
-
Budget 2021: Rationalise GST On Food Delivery To 5%, Says Industry Body
Customers taking food delivery at their home or office are paying 13 per cent higher price compared to customers who walk down to restaurants as dine-in tax rate is 5 per cent
-
18% GST On Frozen Parottas: Government Sources Explain Why
The ordinary or any parotta served by restaurant for eating there or for takeaway would be taxed at a GST rate of 5 per cent just like the plain roti, government sources said a day after social media users debated the government's move to put frozen parotta on a higher bracket than roti under the goods and services tax or GST.
-
Gold Price Today: Gold Futures Edge Higher To Rs 45,800 Per 10 Grams Mark
According to Mumbai-based industry body IBJA, the opening rate of gold jewellery stood at Rs 45,914 per 10 grams - excluding Goods and Services Tax (GST).
-
TVS, Hero And Bajaj Seek GST Rate Cut On Two-Wheelers
Indian two-wheeler manufacturers seek reduction in Goods and Service Tax (GST) rate on motorcycles and scooters.
-
GST Collections Cross Rs 1 Lakh Crore Mark In October: Arun Jaitley
Arun Jaitley attributed the rise in the tax mop-up to lower tax rates and higher compliance.
-
India Inc Gets Pricing Mojo Back In Road To Recovery After Cash Ban, GST
After the twin shocks of a cash ban in 2016 and the chaotic introduction of a consumption tax last year, India's economic recovery is gaining momentum. Businesses are taking advantage of the solid demand to raise prices, lifting profits, but also fanning inflation at a time of higher oil prices and a currency slump.
-
In Budget 2018, Health Care For 10 Crore Families, Farmers Gain Too: 10 Facts
As Finance Minister Arun Jaitley rolled out a Budget focused on farmers and the rural poor today, while boosting jobs and private investment, he has pegged the fiscal deficit target for next year at 3.3 per cent, higher than the earlier 3 per cent goal. Presenting the government's last full-year budget before the 2019 general elections and ahead of...
-
Booked A Flat Before July 1? Builders Can't Charge More For GST
Earlier flat buyers used to pay a service tax rate of 4.5 per cent and a VAT rate of 1-2 per cent for purchase of flats.
-
Gold Discount Widens To Maximum In Seven Months; Higher Prices Hurt Demand
As part of a new nationwide sales tax regime that kicked in on July 1, the GST on gold has jumped to 3 percent from 1.2 percent previously.
-
Toyota Says No change In Plans For Hybrid Vehicles Post GST
Toyota Kirloskar Motor (TKM) today said it will not change its plans for hybrid vehicles in India despite increase in tax rates on the category of vehicles under GST resulting in higher prices. Under the new tax regime, prices of the company's popular hybrid sedan Camry have gone up by an average of Rs. 3 lakh.
-
GST Prices: Two-Wheeler Industry Welcomes New Taxation System
The Goods and Services Tax, or GST impact on prices of two-wheelers have certainly affected prices, but only marginally. A few two-wheeler manufacturers have already announced prices with GST benefits before the announcement of the new taxation system on 1 July 2017. Here's what the industry has to say about the new taxation norm.
-
Hyundai India Sees Drop In Sales For June 2017
Hyundai India has seen a drop in sales for cars sold in June 2017 as compared to the same month last year. Sales numbers for the June 2017 vs Sales for May 2017 are also substantially lower. As compared to June 2016 (39,807 units), Hyundai India only sold 37,562 units, which is a drop of 5.6 per cent. Compared to May 2017 though, which registered a...
