Gst Rate

GST Council headed by Union Finance Minister Nirmala Sitharaman on Monday decided to set up a Group of Ministers (GoM) on reducing tax rate on life and health insurance and cut GST on cancer drugs and namkeens.

Bihar Deputy Chief Minister Samrat Chaudhary was appointed as the convenor of the Group of Ministers on GST rate rationalisation.

Petrol and diesel could be taxed under GST (Goods and Services Tax) rather than VAT (Value Added Tax) if state governments agree to the proposal and fix a suitable rate, Finance Minister Nirmala Sitharaman told NDTV Profit Friday.

Union Finance Nirmala Sitharaman chaired pre-Budget consultations with finance ministers of states and Union Territories to take their views. It was followed by the 53rd meeting of the GST (Goods and Services Tax) Council today.

Finance Minister Nirmala Sitharaman on Monday said the government has adopted "a pro-poor approach" while implementing Goods and Services Tax, and despite lower taxes rates the revenues as a percentage of GDP have reached the pre-GST level.

India's online gaming industry has received show-cause notices amounting to Rs. 1 lakh crore say sources. The notices come even as the industry has raised concerns on the applicable GST Rates.

The Central Board of Indirect Taxes and Customs (CBIC) Chairman, Sanjay Agarwal, has announced that India is prepared to implement a 28 per cent Goods and Services Tax (GST) rate on online gaming starting from October 1.

Parliament on Friday approved amendments to the Central and Integrated GST laws to levy 28 percent tax on the full face value of bets in online gaming, casinos and horse race clubs. The CGST amendment bill defines 'online gaming' as a game on the internet or an electronic network.

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.

GST collections in March grew 13 per cent to the second highest ever at Rs 1.60 lakh crore, taking the growth rate of revenue mop-up for full 2022-23 fiscal to 22 per cent.

The Press Information Bureau of India analysed the savings on a restaurant bill in the pre and post-GST era.

From January 1, GST would not be payable on housing units rented to the proprietor of a proprietary concern for residential usage only, the CBIC has said.

आर सी भार्गव, अध्यक्ष, मारुति सुजुकी इंडिया ने कहा, जापानी येन के मुकाबले भारतीय रुपये की बढ़ती ताकत, सामान की लागत को कम करने में मदद कर सकती है, हालांकि, रूस-यूक्रेन संकट जैसी असामान्य घटनाएं इसे अप्रत्याशित बनाती हैं.

GST परिषद ने सभी राज्यों में टैक्स की उच्चतम दर (GST और उपकर) के लिए कौन सी SUVs योग्यता प्राप्त करती हैं, इसकी एक राष्ट्रव्यापी परिभाषा प्रदान की है.

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.

GST Council headed by Union Finance Minister Nirmala Sitharaman on Monday decided to set up a Group of Ministers (GoM) on reducing tax rate on life and health insurance and cut GST on cancer drugs and namkeens.

Bihar Deputy Chief Minister Samrat Chaudhary was appointed as the convenor of the Group of Ministers on GST rate rationalisation.

Petrol and diesel could be taxed under GST (Goods and Services Tax) rather than VAT (Value Added Tax) if state governments agree to the proposal and fix a suitable rate, Finance Minister Nirmala Sitharaman told NDTV Profit Friday.

Union Finance Nirmala Sitharaman chaired pre-Budget consultations with finance ministers of states and Union Territories to take their views. It was followed by the 53rd meeting of the GST (Goods and Services Tax) Council today.

Finance Minister Nirmala Sitharaman on Monday said the government has adopted "a pro-poor approach" while implementing Goods and Services Tax, and despite lower taxes rates the revenues as a percentage of GDP have reached the pre-GST level.

India's online gaming industry has received show-cause notices amounting to Rs. 1 lakh crore say sources. The notices come even as the industry has raised concerns on the applicable GST Rates.

The Central Board of Indirect Taxes and Customs (CBIC) Chairman, Sanjay Agarwal, has announced that India is prepared to implement a 28 per cent Goods and Services Tax (GST) rate on online gaming starting from October 1.

Parliament on Friday approved amendments to the Central and Integrated GST laws to levy 28 percent tax on the full face value of bets in online gaming, casinos and horse race clubs. The CGST amendment bill defines 'online gaming' as a game on the internet or an electronic network.

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.

GST collections in March grew 13 per cent to the second highest ever at Rs 1.60 lakh crore, taking the growth rate of revenue mop-up for full 2022-23 fiscal to 22 per cent.

The Press Information Bureau of India analysed the savings on a restaurant bill in the pre and post-GST era.

From January 1, GST would not be payable on housing units rented to the proprietor of a proprietary concern for residential usage only, the CBIC has said.

आर सी भार्गव, अध्यक्ष, मारुति सुजुकी इंडिया ने कहा, जापानी येन के मुकाबले भारतीय रुपये की बढ़ती ताकत, सामान की लागत को कम करने में मदद कर सकती है, हालांकि, रूस-यूक्रेन संकट जैसी असामान्य घटनाएं इसे अप्रत्याशित बनाती हैं.

GST परिषद ने सभी राज्यों में टैक्स की उच्चतम दर (GST और उपकर) के लिए कौन सी SUVs योग्यता प्राप्त करती हैं, इसकी एक राष्ट्रव्यापी परिभाषा प्रदान की है.

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.