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New GST Reform Will Boost Consumer Sentiment, Industry Confidence: Deloitte
The GST revamp that slashes tax rates on goods and services into a simplified two-slab structure addresses deeper structural changes, prioritising the "real drivers of the economy", says Deloitte India.
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"Does Congress Want Tobacco Taxed At 5%?" Nirmala Sitharaman On 40% GST Question
Finance Minister Nirmala Sitharaman on Wednesday announced a sweeping reduction in Goods and Services Tax (GST) rates on a wide range of essential items, automobiles, agriculture inputs, and electronic appliances.
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Ashneer Grover Slams Rs 55,000 Crore Tax Notice To Gaming Firms: ''Harassing Businessmen''
The former BharatPe founder questioned the thought process of people running the tax department and said that their goal is just to ''harass businessmen.''
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Casino Operator Delta Corp Gets Rs 11,140 Crore Tax Notice
Casino operator Delta Corp said on Friday it has received a notice from the government to pay a tax of Rs 11,140 crore along with interest and penalty for the period July 2017 to March 2022.
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4,900 Fake GST Registrations Cancelled, Rs 15,000 Crore Tax Evasion Detected
GST authorities have so far cancelled over 4,900 GST registrations and detected tax evasion of over Rs 15,000 crore during the ongoing two-month drive to weed out fake GSTINs which will end on July 15, a senior tax official said on Wednesday.
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Big Change In Tax On SUVs In GST Council's Latest Meeting
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.
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Mumbai Man Arrested For Issuing Fake Tax Invoices Worth Rs 21 Crore
The Central Goods and Services Tax (CGST) Commissionerate in Navi Mumbai on Wednesday said it has busted a racket of fake input tax credit (ITC) invoices worth Rs 21 crore and arrested the proprietor of a firm.
-
GST Officials Detect Rs 830 Crore Tax Evasion By Delhi-Based Tobacco Factory
The GST department has unearthed Rs 831 crore tax evasion by an unregistered gutkha manufacturing unit in the national capital.
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Madhya Pradesh Cement Firm Director Arrested Over Rs 17 Crore Tax Fraud
The GST intelligence officials have detected over Rs 17 crore tax evasion by a major cement manufacturer in Satna and arrested one of its directors, according to an official statement issued on Wednesday.
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GST Cess: Audi India Increases Prices Across Model Range
Audi India is the latest manufacturer to hike prices across its model range following the GST Cess hike announced earlier this month. The company has updated its website with the new prices that affect most models from the German automaker. Prices have increased between Rs. 43,000 lakh for the entry-level AudiA3, going up to Rs. 5 lakh on models li...
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GST Effect On Cars: Small Cars To Be Expensive; Luxury Cars To Get Cheaper
The Goods and Services Tax will be introduced in India on the 1st of July. It is, of course, one of the biggest tax reforms the country has ever seen and what it does is simplify the way both consumers and the manufacturers do business while also bringing in equanimity. Here's a look at how the price of four-wheelers will be impacted under the new ...
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How Will New Taxation System GST Work? Explained In 10 Points
When GST or goods or services tax rolls out on July 1, it will be the biggest tax reform since Independence. GST will subsume a large number of central and state taxes into a single tax, paving the way for a common national market. From free flow of goods and services to elimination of cascading of taxes, the potential benefits to Indian economy ar...
-
The GST Roll Out: Here's What The Restaurant Industry Feels About It
We got in touch with some of the leading names in the restaurant industry to get a taste of their sentiments on the GST roll out.
-
Midnight GST Launch On July 1, Late Filing Allowed For First 2 Months
Union Minister Arun Jaitley has said hotel rooms costing upto 7,500 will come under the 18 per cent slab on Goods and Services Tax. Rooms with higher charges will be taxed at 28 per cent. The GST on restaurants in these hotels will be 18 per cent -- at par with other air-conditioned restaurants. The official launch of the GST, the minister added, w...
-
After GST, Some Items That Could Become Cheaper
GST will subsume many local and central taxes including excise duty, service tax, VAT and octroi.
-
New GST Reform Will Boost Consumer Sentiment, Industry Confidence: Deloitte
The GST revamp that slashes tax rates on goods and services into a simplified two-slab structure addresses deeper structural changes, prioritising the "real drivers of the economy", says Deloitte India.
-
"Does Congress Want Tobacco Taxed At 5%?" Nirmala Sitharaman On 40% GST Question
Finance Minister Nirmala Sitharaman on Wednesday announced a sweeping reduction in Goods and Services Tax (GST) rates on a wide range of essential items, automobiles, agriculture inputs, and electronic appliances.
-
Ashneer Grover Slams Rs 55,000 Crore Tax Notice To Gaming Firms: ''Harassing Businessmen''
The former BharatPe founder questioned the thought process of people running the tax department and said that their goal is just to ''harass businessmen.''
-
Casino Operator Delta Corp Gets Rs 11,140 Crore Tax Notice
Casino operator Delta Corp said on Friday it has received a notice from the government to pay a tax of Rs 11,140 crore along with interest and penalty for the period July 2017 to March 2022.
-
4,900 Fake GST Registrations Cancelled, Rs 15,000 Crore Tax Evasion Detected
GST authorities have so far cancelled over 4,900 GST registrations and detected tax evasion of over Rs 15,000 crore during the ongoing two-month drive to weed out fake GSTINs which will end on July 15, a senior tax official said on Wednesday.
-
Big Change In Tax On SUVs In GST Council's Latest Meeting
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.
-
Mumbai Man Arrested For Issuing Fake Tax Invoices Worth Rs 21 Crore
The Central Goods and Services Tax (CGST) Commissionerate in Navi Mumbai on Wednesday said it has busted a racket of fake input tax credit (ITC) invoices worth Rs 21 crore and arrested the proprietor of a firm.
-
GST Officials Detect Rs 830 Crore Tax Evasion By Delhi-Based Tobacco Factory
The GST department has unearthed Rs 831 crore tax evasion by an unregistered gutkha manufacturing unit in the national capital.
-
Madhya Pradesh Cement Firm Director Arrested Over Rs 17 Crore Tax Fraud
The GST intelligence officials have detected over Rs 17 crore tax evasion by a major cement manufacturer in Satna and arrested one of its directors, according to an official statement issued on Wednesday.
-
GST Cess: Audi India Increases Prices Across Model Range
Audi India is the latest manufacturer to hike prices across its model range following the GST Cess hike announced earlier this month. The company has updated its website with the new prices that affect most models from the German automaker. Prices have increased between Rs. 43,000 lakh for the entry-level AudiA3, going up to Rs. 5 lakh on models li...
-
GST Effect On Cars: Small Cars To Be Expensive; Luxury Cars To Get Cheaper
The Goods and Services Tax will be introduced in India on the 1st of July. It is, of course, one of the biggest tax reforms the country has ever seen and what it does is simplify the way both consumers and the manufacturers do business while also bringing in equanimity. Here's a look at how the price of four-wheelers will be impacted under the new ...
-
How Will New Taxation System GST Work? Explained In 10 Points
When GST or goods or services tax rolls out on July 1, it will be the biggest tax reform since Independence. GST will subsume a large number of central and state taxes into a single tax, paving the way for a common national market. From free flow of goods and services to elimination of cascading of taxes, the potential benefits to Indian economy ar...
-
The GST Roll Out: Here's What The Restaurant Industry Feels About It
We got in touch with some of the leading names in the restaurant industry to get a taste of their sentiments on the GST roll out.
-
Midnight GST Launch On July 1, Late Filing Allowed For First 2 Months
Union Minister Arun Jaitley has said hotel rooms costing upto 7,500 will come under the 18 per cent slab on Goods and Services Tax. Rooms with higher charges will be taxed at 28 per cent. The GST on restaurants in these hotels will be 18 per cent -- at par with other air-conditioned restaurants. The official launch of the GST, the minister added, w...
-
After GST, Some Items That Could Become Cheaper
GST will subsume many local and central taxes including excise duty, service tax, VAT and octroi.
