Gst Rates

Automobile dealers' body FADA has urged the government to reduce GST rates on two-wheelers to 18 per cent in order to generate demand in the segment.

The auto components industry body is seeking some relaxation from the central government in the Union Budget, including a uniform Goods and Services Tax rate of 18 per cent on all auto parts.

Food aggregators like Swiggy and Zomato will have to collect and deposit tax at 5 per cent rate starting today, a move which will widen the tax base as food vendors who are currently outside the GST threshold will become liable to GST.

Currently, restaurants registered under GST are collecting and depositing the tax. Also, cab aggregators like Uber and Ola will have to collect five per cent Goods and Services Tax (GST) for booking two and three-wheeler vehicles effective January 1.

Earlier in the year, the Central Board of Indirect Taxes and Customs had announced that the GST rate on garments, textiles, and footwear would be raised from five per cent to 12 per cent with effect from January 1, 2022.

Several markets dealing with garment business in Delhi remained shut on Thursday in protest against the central government's proposed move to hike GST rates on textile from existing 5 per cent to 12 per cent from January 1.

GST council led by finance minister Nirmala Sitharaman will meet on December 31, a day after she holds talks with her states counterparts on budget

The GST Council has not recommended bringing petroleum products under the reformed taxation regime even as certain representations have been made to the government to include petrol and diesel in GST, Parliament was informed on Tuesday.

The proposed change in GST rate from 5 per cent to 12 per cent is going to significantly increase the prices of apparels now costing below Rs 1,000

Revenue Secretary Tarun Bajaj said that some people are already paying capital gains tax on the income from crypto, and in respect of GST also the law is "very clear" that the rate would be applicable as those in case of other services.

The comments from the top politician comes at a time when petrol and diesel prices in the country have been on rising spree in India, driven by a surge in global crude oil rates

The first meeting of the Group of Ministers set up for rationalising GST rates and to shore up revenue will be held soon, its chairman and Karnataka Chief Minister Basavaraj Bommai said on Friday.

Finance Minister Nirmala Sitharaman on Friday announced that the GST Council decided to extend the concessional rates on drugs used in COVID-19 treatment till December 31, 2020.

45th GST Council Meet 2021: Bringing petrol and diesel under the ambit of indirect tax, GST compensation shortfall to states are some of the issues that could be discussed by the Council

India is open to discussing a change in tax rates on automobiles, the country's revenue secretary said on Wednesday, indicating receptiveness over negotiation on a long-standing request from automakers for lower taxes.

Automobile dealers' body FADA has urged the government to reduce GST rates on two-wheelers to 18 per cent in order to generate demand in the segment.

The auto components industry body is seeking some relaxation from the central government in the Union Budget, including a uniform Goods and Services Tax rate of 18 per cent on all auto parts.

Food aggregators like Swiggy and Zomato will have to collect and deposit tax at 5 per cent rate starting today, a move which will widen the tax base as food vendors who are currently outside the GST threshold will become liable to GST.

Currently, restaurants registered under GST are collecting and depositing the tax. Also, cab aggregators like Uber and Ola will have to collect five per cent Goods and Services Tax (GST) for booking two and three-wheeler vehicles effective January 1.

Earlier in the year, the Central Board of Indirect Taxes and Customs had announced that the GST rate on garments, textiles, and footwear would be raised from five per cent to 12 per cent with effect from January 1, 2022.

Several markets dealing with garment business in Delhi remained shut on Thursday in protest against the central government's proposed move to hike GST rates on textile from existing 5 per cent to 12 per cent from January 1.

GST council led by finance minister Nirmala Sitharaman will meet on December 31, a day after she holds talks with her states counterparts on budget

The GST Council has not recommended bringing petroleum products under the reformed taxation regime even as certain representations have been made to the government to include petrol and diesel in GST, Parliament was informed on Tuesday.

The proposed change in GST rate from 5 per cent to 12 per cent is going to significantly increase the prices of apparels now costing below Rs 1,000

Revenue Secretary Tarun Bajaj said that some people are already paying capital gains tax on the income from crypto, and in respect of GST also the law is "very clear" that the rate would be applicable as those in case of other services.

The comments from the top politician comes at a time when petrol and diesel prices in the country have been on rising spree in India, driven by a surge in global crude oil rates

The first meeting of the Group of Ministers set up for rationalising GST rates and to shore up revenue will be held soon, its chairman and Karnataka Chief Minister Basavaraj Bommai said on Friday.

Finance Minister Nirmala Sitharaman on Friday announced that the GST Council decided to extend the concessional rates on drugs used in COVID-19 treatment till December 31, 2020.

45th GST Council Meet 2021: Bringing petrol and diesel under the ambit of indirect tax, GST compensation shortfall to states are some of the issues that could be discussed by the Council

India is open to discussing a change in tax rates on automobiles, the country's revenue secretary said on Wednesday, indicating receptiveness over negotiation on a long-standing request from automakers for lower taxes.