GST Rates

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The panel will likely propose the classification at the next GST Council meeting, which is expected to be held at the end of May or in June

GST Council also decided to clear the entire dues of GST compensation pending to states

Tax outflows drive tightness; banks face pressure to raise deposit rates

Industry body CII has pitched for a reduction in personal income tax rates, decriminalisation of the goods and services tax and a relook at the capital gains tax rates as part of its agenda presented to the government for the forthcoming Budget. Arguing that the GST law already contains adequate penal provisions for deterrence against evasion of taxes, CII has suggested decriminalisation of GST law. Also, the applicability of prosecution provisions should not be based on the absolute amount of tax evasion but should be based on real intent to evade the taxes and a certain percentage of the tax payable, it stated. "A fresh look is needed at the capital gains tax with respect to its rates and holding period to remove complexities and inconsistencies. Moreover, the Government should contemplate a reduction in the rates of personal income tax in its next push for reform as this would increase disposable incomes and revive the demand cycle," CII President Sanjiv Bajaj said. Tax certaint

Experts say this would reduce litigation in courts, as different classes of cranes attract different tax rates

Group of ministers to seek legal opinion for the move

High equipment costs and shortage of skilled manpower a challenge, despite MeitY push

Holds that an answer booklet is a good, whereas printing question paper is a service provided to educational institution

Apex court says it is the bidders' responsibility to find out the relevant HSN code

Group of ministers headed by Karnataka Chief Minister Basavaraj Bommai is working on the second round of GST rate changes, a news report said

Congress MPs including Rahul Gandhi were detained at Police Lines Kingsway Camp during their protest against the Centre

Senior Congress leader P Chidambaram on Sunday criticised the government over the increase in GST rate on scientific equipment

The All India Institute of Medical Sciences, New Delhi, on Thursday announced a raise in the charges of its private ward rooms.

The clarification came amid protests and widespread criticism by Opposition Members of Parliament over foisting GST on daily-use essentials and subsequent price rise

Says govt running away from discussion in Parliament on price rise, Rs

While the GST council proposed to withdraw tax exemptions for a few items and rate changes for others, exemptions for many others were removed

From next week, many household items, hotels, and bank services among other things will get costlier

But the government is open to discussing narrowing down the three slabs of 5, 12 and 18 per cent into two, he said while addressing industry leaders

Goyal said another big advantage is for the small retailers who are very keen to engage with ecommerce