Gst Rate Structure

The stakeholders have told the officers' panel that manufactured goods, such as fertilizers, mobile phones, footwear, renewable equipment and man-made yarns, which are in lower rates slab (5-12 per cent) suffer the "inverted duty structure" (IDS).

The auto industry has been going through a slump in volumes since the past eight months and sales continue to remain disappointing as we move into the ninth month of this de-growth. Luxury carmakers have been equally affected by the slowdown and manufacturers collectively asked for relief in the GST rates that might work as a short in the arm for t...

Finance Minister Arun Jaitley said the country should look towards having GST slabs of zero, five per cent and a standard rate for luxury and sin goods. The government will also look at transferring cement into a lower tax slab as the next priority, Mr Jaitley added.

A dual rate structure with a low standard rate and an additional higher rate on select items can be progressive and preserve revenue neutrality, IMF said.

The International Monetary Fund or IMF today described the Goods and Services Tax (GST) as a "milestone reform" in India's tax policy, but pushed for a simplified structure, saying the multiple rate structure and other features could give rise to high compliance and administrative costs.

Union minister Arun Jaitley said today there was an increase of 18 per cent in direct taxes last year due to the Goods and Services Tax or GST and demonetisation. In the last four years of NDA government, there has been an increase of 1.5 per cent in overall taxes, the minister said.

Sunil Bharti Mittal, founder and chairman, Bharti Enterprises, said that the upgrade "underlines the efficacy of the bold structural reforms".

Last week the government cut the tax payable on about 200 items and eased filing norms after it was criticized by some for a chaotic roll-out as companies grappled with the multi-tier structure and onerous reporting system.

Some rejig in GST rate structure is required to reduce the burden on small and medium businesses, Revenue Secretary Hasmukh Adhia has said.

The Goods and Services Tax (GST), which amalgamates more than a dozen central and state levies like excise duty, service tax and VAT, will take about a year to stabilise, he told PTI.

Keeping up the pressure on the government for the disruption caused due to the Goods and Services Tax, the Congress on Saturday welcomed the "interim relief" cleared by the GST council yesterday but stressed the government had "utterly failed" to address the structural problems of the tax regime.

The Ciaz diesel features a technology called SHVS or Smart Hybrid Vehicle System that classifies the sedan as a hybrid car and not just standard internal combustion engine automobile. All hybrid cars are classified at 43 per cent total GST which includes 28 per cent GST and 15 per cent cess that was originally levied on cars when the new tax struct...

India's economic growth slipped to a three-year low of 5.7 per cent in the April-June quarter.

The company has started supply of batches on new rates from July 1 from its warehouses, when the new tax structure came into force.

Toyota Kirloskar Motors have announced a massive price drop across almost every single model in its variety of cars offered for the Indian market. The price drop is due to GST taxes coming into play and offering a price drop across all conventional internal combustion engine powered automobiles. The price drop across due to GST impact for Toyota ca...

The stakeholders have told the officers' panel that manufactured goods, such as fertilizers, mobile phones, footwear, renewable equipment and man-made yarns, which are in lower rates slab (5-12 per cent) suffer the "inverted duty structure" (IDS).

The auto industry has been going through a slump in volumes since the past eight months and sales continue to remain disappointing as we move into the ninth month of this de-growth. Luxury carmakers have been equally affected by the slowdown and manufacturers collectively asked for relief in the GST rates that might work as a short in the arm for t...

Finance Minister Arun Jaitley said the country should look towards having GST slabs of zero, five per cent and a standard rate for luxury and sin goods. The government will also look at transferring cement into a lower tax slab as the next priority, Mr Jaitley added.

A dual rate structure with a low standard rate and an additional higher rate on select items can be progressive and preserve revenue neutrality, IMF said.

The International Monetary Fund or IMF today described the Goods and Services Tax (GST) as a "milestone reform" in India's tax policy, but pushed for a simplified structure, saying the multiple rate structure and other features could give rise to high compliance and administrative costs.

Union minister Arun Jaitley said today there was an increase of 18 per cent in direct taxes last year due to the Goods and Services Tax or GST and demonetisation. In the last four years of NDA government, there has been an increase of 1.5 per cent in overall taxes, the minister said.

Sunil Bharti Mittal, founder and chairman, Bharti Enterprises, said that the upgrade "underlines the efficacy of the bold structural reforms".

Last week the government cut the tax payable on about 200 items and eased filing norms after it was criticized by some for a chaotic roll-out as companies grappled with the multi-tier structure and onerous reporting system.

Some rejig in GST rate structure is required to reduce the burden on small and medium businesses, Revenue Secretary Hasmukh Adhia has said.

The Goods and Services Tax (GST), which amalgamates more than a dozen central and state levies like excise duty, service tax and VAT, will take about a year to stabilise, he told PTI.

Keeping up the pressure on the government for the disruption caused due to the Goods and Services Tax, the Congress on Saturday welcomed the "interim relief" cleared by the GST council yesterday but stressed the government had "utterly failed" to address the structural problems of the tax regime.

The Ciaz diesel features a technology called SHVS or Smart Hybrid Vehicle System that classifies the sedan as a hybrid car and not just standard internal combustion engine automobile. All hybrid cars are classified at 43 per cent total GST which includes 28 per cent GST and 15 per cent cess that was originally levied on cars when the new tax struct...

India's economic growth slipped to a three-year low of 5.7 per cent in the April-June quarter.

The company has started supply of batches on new rates from July 1 from its warehouses, when the new tax structure came into force.

Toyota Kirloskar Motors have announced a massive price drop across almost every single model in its variety of cars offered for the Indian market. The price drop is due to GST taxes coming into play and offering a price drop across all conventional internal combustion engine powered automobiles. The price drop across due to GST impact for Toyota ca...