Gst Tax Slabs
India will not merge GST tax rates in 2023-24: Revenue Secretary Malhotra
"Right now, we are just looking to maintain stability (in tax rates), a stable tax regime. Minor changes will always be there... major taxation change like merger of tax rates
 "India will not merge GST tax rates in 2023-24: Revenue Secretary Malhotra")
Rates are out of tune for higher-income levels, need revisions
India is somewhere in the middle when taxation for the upper-income bracket is considered, but leaving tax rates untouched can translate into a heavier tax burden on the population
 "Rates are out of tune for higher-income levels, need revisions")
Industry body CII pitches for simplification of GST, reduction in tax slabs
CII's President Sanjiv Bajaj pitched for simplification of GST structure, and suggested electricity as well as fuel should be brought under GST as that will help make the industry more competitive.
 "Industry body CII pitches for simplification of GST, reduction in tax slabs")
GST Council may consider raising lowest slab to 8%, rationalise tax slabs
The GST Council in next meet may look at raising the lowest tax slab to 8%, from 5%, and prune the exemption list in the GST regime
 "GST Council may consider raising lowest slab to 8%, rationalise tax slabs")
Think tank seeks higher 18% GST on tetra pack from current 12% slab
A think tank has requested GST Council to levy a higher tax of 18 per cent on tetra pack, arguing that the product is incorrectly categorised in the 12 per cent slab as a paper-based aseptic packaging
 "Think tank seeks higher 18% GST on tetra pack from current 12% slab")
GST Council may take up rationalising tax rates, slab merger in next meet
15th Finance Commission has suggested merging 12 and 18% tax rates
 "GST Council may take up rationalising tax rates, slab merger in next meet")
Frozen, packaged, branded parota not eaten by poor; Govt justifies 18% GST
According to government sources, frozen parota (layered flatbread) does not qualify as a staple item
 "Frozen, packaged, branded parota not eaten by poor; Govt justifies 18% GST")
Six changes in tax rules that come into effect today
Today is first day of the financial year 2020-21, and with new year come new tax rules. Here are the six changes that come into effect from today
 "Six changes in tax rules that come into effect today")
Three dangerous myths
The errors and misapprehensions that led to constant optimism about Indian growth
 "Three dangerous myths")
Govt hints at reviewing rates in top slab of 28%
GST Council had also pruned the list of items in the top 28 per cent slab to just 50 from 228 earlier
 "Govt hints at reviewing rates in top slab of 28%")
Biggest GST bonanza: 28% tax only on 50 luxury items, eating out cheaper
FM Jaitley also said the Council had been looking at the 28% tax slab and constantly rationalising items in it in lesser tax slabs
 "Biggest GST bonanza: 28% tax only on 50 luxury items, eating out cheaper")
GST Council likely to slash tax rates on 80% items in top slab: Sushil Modi
The GST Council will meet on November 9 and 10 in Assam's capital Guwahati
 "GST Council likely to slash tax rates on 80% items in top slab: Sushil Modi")
More goods may get cheaper as Jaitley hints at pruning 28% GST slab list
GST Council is scheduled to meet next on November 10 and may consider lowering tax rates on a host of goods
 "More goods may get cheaper as Jaitley hints at pruning 28% GST slab list")
Rationalisation of GST slabs depend on revenue collection: Meghwal
Dealers would have to maintain computerised records of input tax credit, reverse charge mechanism
 "Rationalisation of GST slabs depend on revenue collection: Meghwal")
GST tax slabs to be reduced after revenue improves: Arjun Kumar Meghwal
With the exempted category, the existing tax slabs are of 5, 12, 18 and 28%
 "GST tax slabs to be reduced after revenue improves: Arjun Kumar Meghwal")
