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Sep 20, 2019 10:52 PM IST | Source: Moneycontrol.com

Nirmala Sitharaman GST press conference highlights: Rate on hotel room tariffs from Rs 1,001 to Rs 7,500 cut to 12%, says FM

Track this space for all live updates on the media briefing by Finance Minister Nirmala Sitharaman following the 37th GST Council meeting on September 20.

  • Sep 20, 03:25 PM (IST)

    The market celebrated the announcement of a reduction in the rate of corporate tax with the biggest one-day gain in 10 years. Track all of the market's acitivity here.

  • Sep 20, 03:23 PM (IST)

    Earlier in the day, Finance Minister Nirmala Sitharaman had announced a cut in the rate of effective corporate tax from 30 percent to 25.17 percent. The move has been lauded by unanimously by all stakeholders.Track all the updates on this major announcement here.

  • Sep 20, 10:51 PM (IST)

    Grant Thornton India LLP's Krishan Arora said while the proposed GST rate cut is indeed a good news to promote hospitality industry, the GST Council seems to have rightly refrained from offering larger rate cuts across other demanding sectors considering the overall revenue involvement as an immediate priority. 

  • Sep 20, 10:41 PM (IST)
  • Sep 20, 10:39 PM (IST)

    A 5 percent GST would be applicable on specified goods used for oil and gas exploration and production under the licensing policy and supply of goods and services to Food and Agriculture Organisation (FAO) for specified projects in India has been exempt from GST. The revised rates are to come into effect from October 1.

  • Sep 20, 10:31 PM (IST)

    Passenger vehicles of engine capacity 1,500 cc in case of diesel, 1,200 cc in case of petrol and length not exceeding 4,000 mm designed for carrying up to 9 persons attract compensation cess of 1 percent for petrol and 3 percent for diesel vehicle over and above the 28 percent tax rate. (PTI)

  • Sep 20, 09:44 PM (IST)

  • Sep 20, 09:39 PM (IST)

    FM Sitharaman: The exemption on specified imported defence goods that have been not been manufactured indigenously has been extended to 2024. Also, the supply of goods and services to FIFA and other specified persons have also been exempted for the U17 Women's World Cup, which is to take place in India.

  • Sep 20, 09:33 PM (IST)

    FM Sitharaman: GST on supply of machine job has been cut to 12 percent, down from 18 percent.

  • Sep 20, 09:13 PM (IST)

    FM Sitharaman: The Council has exempted Platinum imported for re-export as jewellery from GST.

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