Tax On Luxury Items

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  Buying A Handbag, Watch Or Sunglasses Over Rs 10 Lakh Will Now Attract 1% TCS

  Buying luxury goods worth above Rs 10 lakh will now come with a 1% TCS charge

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  Joe Biden Pardons Son Hunter: A Look At Charges And Potential Punishment

  Hunter Biden had pleaded guilty to failing to pay $1.4 million in taxes during a period when he allegedly spent excessively on drugs, luxury items, and other activities.

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  Government To Extend Surcharge On Luxury Items, Tobacco

  The surcharge on luxury goods, which varies from 12 per cent to 200 per cent, is part of the national goods and services tax (GST) introduced in 2017, and was due to expire in 2022.

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  One Year Of GST: When Over 200 Items Became Affordable

  One year of GST: Only luxury items remained in the highest tax slab of 28 percent after the 23rd meeting of GST Council held in November last year in Guwahati, Assam

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  Six Things You Must Know About the New GST Rates

  It was decided in the GST Council meet on Friday that all restaurants will now be levied GST at 5%, without input tax credit benefits.

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  Cars, Common Use Items On GST Council Radar Today: 10 Things To Watch Out For

  The 21st meeting of the GST Council is likely to consider lowering tax rates on over two dozen products.

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  Foodgrains, Soaps To Cost Less Post GST Rollout, Cars To Be Expensive

  Small cars will be charged 1 per cent cess on top of 28 per cent tax, mid-sized and luxury cars will attract cess of 15 per cent on top of the peak rate.

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  GST: Aerated Drink Makers Disappointed On Being Put In Demerit List

  Earlier this week, the GST Council had announced that luxury items like high-end cars and demerit goods including tobacco, pan masala and aerated drinks will be taxed at the highest rate of 28 per cent.

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  Proposed GST Rates Suggest Limited Impact On Most Sectors: Report

  The GST Council yesterday agreed on a 4-tier GST tax structure of 5, 12, 18 and 28 per cent, with lower rates for essential items and the highest for luxury and de-merits goods

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  GST Rate Undecided Amid Tussle Over Share Of Centre vs States: 10 Facts

  The rate of the new Goods and Services Tax or GST remains undecided with states and the centre disagreeing on fundamentals of the tax reform at a crucial meeting.

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  GST Council Discusses 4-Tier Tax Rate, Cess On Demerit Goods

  The GST Council discussed possible Goods and Service Tax rates, including a four-slab structure of 6, 12, 18 and 26 per cent with lower rates for essential items and highest band for luxury goods, even as it reached consensus on payment of compensation to states.

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  GST Impact: Cars, FMCG Items To Get Cheaper, Services More Expensive

  Luxury cars, FMCG products, consumer durables, electronics items and readymade garments will become cheaper once Goods and Services Tax or GST is rolled out next year, but mobile phones, banking and insurance services, telephone bills as well as air travel will be dearer due to higher tax.

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  Government Refuses Recall Of 1% Excise Duty On Jewellery

  Government in Rajya Sabha on Thursday refused to budge from its stance on levying one per cent excise duty on non-silver jewellery saying luxury items cannot be kept out of tax ambit for perpetuity, prompting a walk-out by members of the Congress and SP.

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  Government Refuses Recall Of 1% Excise Duty On Jewellery

  Government in Rajya Sabha on Thursday refused to budge from its stance on levying one per cent excise duty on non-silver jewellery saying luxury items cannot be kept out of tax ambit for perpetuity, prompting a walk-out by members of the Congress and SP.

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  Finance Minister Arun Jaitley Stays Firm On Excise Duty On Jewellers

  Refusing to relent on excise duty levy on non-silver jewellery goods, Finance Minister Arun Jaitley today said a "luxury item" cannot remain out of tax ambit when taxes need to be paid on many essentials.