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GST saw a Glorious Structural Turnaround this week and many other acronyms
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India's much-anticipated GST reforms arrived early as a Diwali gift, but sector-specific nuances in the new rate structure created mixed market reactions despite the overall consumer benefits
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The aim is to make renewable energy more affordable for developers as well as consumers
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The overall verdict is that it is certainly positive for urban consumption, particularly in the mass consumption categories, where stress has been most visible
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The GST Council has launched a revamped indirect tax system that aims to make everyday items cheaper
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The churn in GST rates may lead to companies not cutting prices, leading to disappointment on the consumption front. Cutting taxes on this commodity could change the equation, however
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The statement on popcorn was issued after request from Uttar Pradesh to clarify the classification and GST rate applicable on popcorn mixed with salt and spices, they added
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The GoM was initially scheduled to submit its report by December 31, 2024
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Indirect taxes are being bloated by inflation which is not a good thing
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Among the central ministries, the Finance Ministry is fighting the highest number of cases in court. As of July 2023, the ministry was embroiled in over 1.5 lakh cases. Time and again, budgetary announcements are made to reduce the number of tax disputes pending in court.
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Liquidity in the system on March 18 was estimated to be in deficit of around Rs 72,918.47 crore, as per Reserve Bank of India data.
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The company has said it has to do with matters relating to industry-wide issues
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Those who cried wolf over PMLA’s net extending to GST have not only misread its intention, worse they may end up diverting attention from a long due reform of the anti-money laundering law
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49th GST Council Meeting 2023: The GST Council has also decided to lower the GST on liquid jaggery, pencil sharpeners, and certain tracking devices, the minister added.
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GST Council Meeting Highlights: The GST Council recommended three types of offences be decriminalized. No decision on taxation of tobacco and gutka was taken, despite it being among the prominent issues on the Council meeting's agenda today.
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Rather than take a shot in the dark, the government needs to mine GST data for formulating industrial policy and build the case for proposed changes
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The GoM, under Meghalaya Chief Minister Conrad Sangma, in its report had highlighted that horse racing, online gaming and casinos are all part of betting and gambling, and 28 per cent GST on gross sales value should be levied.
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Unconstitutionality, massive adverse economic impact, loss of jobs and investor confidence are enough reasons to rethink the recommendation of the GST on the contest entry amount
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The revenue secretary said it would be easier, yet challenging, for the country to first transition the five percent, 12 percent, and 18 percent GST rates into two slabs.
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The Centre and states should shed their dilly-dallying attitudes and make good use of the GST Council meetings to provide a directional path for the country’s indirect tax system
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There was a lot more the Court held in favour of the government’s stand than what it held against
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If the GST Council was intended to be a decision-making authority whose recommendations transform into legislation, such a qualification would have been included in Articles 246A or 279A
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The Supreme Court reiterates that the GST Act is supreme, and the principles enunciated in the Act cannot be disregarded by passing notifications that are not in conformity with the Act
