Page 4 - Gst Rates

ICEA writes to FM, major states asking not to hike GST rate on cellphones

The letter alleged that there are "distortions in the GST rate on components" which ICEA finds illogical

HC clears confusion over contentious issue of composite supply under GST

The company went to the Kerala high court against the judgement. The high court wondered as to how AAR came to the conclusion that it was a composite supply

New political landscape leaves BJP at mercy of others in GST Council

The party controls 15 states and is short of the 75% vote share needed to pass decisions

NBFCs need to be incentivised to become banks, says Hiranandani Group MD

'The government's decision to reduce corporation tax rate to 17% for new companies is faulty', said Hiranandani

States against GST slab, rate revamp until revenue stabilises: Sushil Modi

Says now onwards GST Council will consider any change in tax rates only once a year instead of in each and every meeting

Re-think GST: No economy can afford to persist with a failed tax experiment

Let's pretend no more that the system isn't broken. The Centre needs to break heads in the GST Council and work out new slabs and rates (the fewer the better) and make a fresh start, writes T N Ninan

In a first, GST Council votes to tax lotteries at uniform rate of 28%

All the earlier decisions by the Council had been taken through consensus

Higher GST rate on mobiles, fabrics likely to boost revenue collection

The GST rate on mobile phones is 12%, whereas that on phone parts and batteries is 18%

GST council may hike rates for various items to meet revenue shortfall

The Council can explore possibility of merger of slabs to bring down the number of slabs to three, sources said.

The GST structure may be in for an overhaul

Some items will also be removed from the GST exemption list that attracted some form of taxation in the pre-GST regime

New GST rates likely from April 1; rate structure decision on Dec 18

Kerala Finance Minister Thomas Isaac told Business Standard that the proposal of tweaking the lower slabs would be strongly opposed

Top headlines of the day: KM Birla on Voda Idea, onion prices, & more

From Kumar Mangalam Birla commenting on the relief for Vodafone Idea, to onion touching Rs 140 a kg in some cities, Business Standard brings you top headlines of the day

FM Sitharaman assures states of releasing GST compensation dues soon

Sitharaman on Wednesday said the Centre was duty bound to safeguard the interest of states

GST and compensation cess review on cards as collections fall short

If states' GST revenue does not grow by at least 14%, the Centre pays them the difference, after every two months

Finance commission chief Singh blasts frequent tinkering with GST rates

He also pitched for a rationalisation in Centrally- sponsored schemes, and blamed the government for not clearly defining the role of the Niti Aayog

Will further simplify GST to improve India's ease of doing biz ranking: FM

The Finance Minister expressed hope that it will help in further improving India's ranking in the World Bank's ease of doing business index

Govt to remove 'friction points' in growth, but won't lower GST: Report

The set of measures being firmed up by the finance ministry is based on the feedback received by Finance Minister Nirmala Sitharaman during her interactions with different stakeholders

Taxmann.com releases tool to find GST rate applicable on different dates

The GST regime has 7 rates for goods and 5 for services

GST rates distortionary, procedures complicated: Bengal FM Amit Mitra

Mitra said the peak rate of 28% should be completely abolished

GST impact: Sanitary napkin to TV makers, list of unhappy firms is growing

After the July 21 rate revisions, the number of companies unwilling to pass on GST benefits is higher than after the Novemeber 2017 round of rate revisions.