Gst Rates

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Business Standard brings you the top headlines at this hour

Panel working on classification of millet products to determine GST rates

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 okays setting up tribunals, specific levy for pan masala firms

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

Liquidity slips into deficit; RBI cash injections at over one-month high

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

Decriminalise GST law, cut personal income tax rates in Budget: CII to govt

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

CBIC offers clarity on classification of cranes for GST, customs duty

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

GoM for different GST on sports betting, casinos and horse racing

Group of ministers to seek legal opinion for the move

3D-printed homes, implants, jewellery: An industry takes shape in India

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

Printing question paper exempt from GST, but not answer booklet, rules AAR

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

Providing HSN code responsibility of bidder, not tendering authority: SC

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

GST rates could change to correct inverted duty, exemptions: Report

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

Rahul Gandhi, Priyanka Vadra, other Congress leaders detained amid protest

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

Ex-Finance Minister Chidambaram slams govt's GST hike on scientific devices

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

Delhi AIIMS raises room rent for private ward after 5% GST rate hike

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

No GST on food items when sold loose, clarifies FM Nirmala Sitharaman

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

United Opposition stalls proceedings over 'unparliamentary' GST hike

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

New GST rates come in effect from today: Check the rate change list here

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

GST rate hike comes in effect from Monday: Here's what will get costlier

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

Policymakers don't have fetish to raise rates: Revenue secy Tarun Bajaj

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

GST rule change for small businesses a game-changer for ONDC: Goyal

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