gst

Buying gold to get costlier: Gold import duty hiked by 5%; this is how much you’ll pay in taxes now

[ad_1] India has raised basic import duty on gold to 12.5 per cent from 7.5 per cent, according to a government notice dated June 30. This step has been taken to reduce influx of gold into the world’s second-largest consumer of the precious metal, after India’s ballooning trade deficit pushed the Rupee to a record […]

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GST Council’s decisions will help small e-commerce sellers: Nasscom

[ad_1] Industry body Nasscom on Thursday said the decision of the GST Council to waive mandatory registration requirement for online sellers as part of the composition scheme will help small sellers to have a level playing field. The composition taxpayers, making interstate supplies through e-commerce operators, will yield additional avenues for growth to small sellers.

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If GST compensation has to continue, change the design

[ad_1] The Goods and Services Tax (GST) Council meeting this week did not extend the revenue compensation period for states beyond five years, overriding a demand by several states. The rationale behind the compensation was to offset the cost of transitioning to a new tax system. When tax rates were harmonised across the country, some

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GST’s half-a-decade journey: Tech usage to plug revenue leaks, Rs 1.3 lakh crore monthly tax ‘new normal’

India’s biggest tax reform, the Goods and Services Tax (GST), completes its half-a-decade journey on June 30, with many hits and some misses, and also brought about a paradigm shift in use of technology to bring about tax compliance and making over Rs 1 lakh crore revenue collection every month ‘a new normal’. A nationwide

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What becomes costlier, cheaper after GST Council decision at Chandigarh meeting

  The Goods and Services Tax was hiked for numerous items after the GST Council took up the recommendations aimed at “ironing out inconsistencies” in the structure. The GST Council decided to raise levies on a host of items, including ink, pencil sharpeners, cutlery, LED lamps, power-driven pumps, and dairy, poultry and horticulture machinery. The

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GST Council Meet: Host of rate hikes, fewer exemptions from July 18

[ad_1] The Goods and Services Tax (GST) Council on Wednesday removed a host of tax exemptions and raised rates for a larger number of mass-consumption items to remove anomalies and inversion. The decision will take effect from July 18. A proposal to bring parity between online and offline traders for intra-state trade in GST registration

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47th GST Council meet: Curd, paneer, hotels, bank facilities to get expensive

New Delhi: The 47th meeting of the Goods and Services Tax (GST) Council has approved imposing GST on new items and increasing the tax on a few items, in a bid to boost the government’s revenue. For instance, the council has decided to impose a 12% GST on hotel rooms below Rs 1000. So far,

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Pre-packed curd, paneer, makhana, wheat to attract 5% GST: See complete list

A range of items will now come under the purview of the Goods and Service Tax as the GST panel headed by Union finance minister Nirmala Sitharaman accepted the recommendation of the Group of ministers from states on withdrawing exemptions with a view to rationalising the levy. Here are the products that will now attract

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