Though Patanjali has argued that they gave discounts on their products instead through a cash-back scheme, the anti-profiteering watchdog stated it cannot be equated with tax cut benefits that must reflect int he MRP
The rate cut assumes significance as it is one of the biggest changes in the GST slabs ahead of the 2019 general elections
Construction of flats, complex, buildings will have a lower incidence of Goods and Services Tax (GST) as compared to a plethora of central and state indirect taxes suffered by them currently.
The GST Council will meet next on May 18-19 in Srinagar, where besides finalising these rules, rate classification exercise will be discussed.
The Goods and Services Tax (GST) regime has came a step closer to meet its July 1, 2017 target of rollout, with the Lok Sabha approving four supplementary legislations.Â The Central GST Bill, 2017; The R
With 4 crucial bills on GST being passed in the Lok Sabha on March 29, 2017, it‘s now a certainty that the GST would be implemented from July 1, 2017. The GST is being R
The apex body of private real estate developers, Credai (Confederation of Real Estate Developers’ Associations of India), on February 7, 2017, said that it is expecting a revenue-neutral GST rate without any adverse impact R
Credai, the apex body of private real estate developers, today said that it is expecting a revenue-neutral GST rate without any adverse impact on realty prices, a relief for the sector.
Air conditioners and Hawai chappals cannot be taxed at the same rate, Finance Minister Arun Jaitley said in a blog posted on his Facebook page.
With the Union Finance Minister as the Chairperson, the panel of State Finance Ministers and some top officials from the Finance Ministry will have the task of finalising the entire roadmap for the GST rollout
The draft policy envisions increasing the share of capital goods in total manufacturing activity to 20 per cent by 2025 from 12 per cent at present.
"Currently, the sector is taxed at the normal rate for both excise and VAT and hence the overall duty burden is between 24% and 27%. As against this, if the GST rate for the standard rate of products for paints is 17-19%, there will be clearly an advantage," says Jayraj Sheth, Indirect Tax Partner, EY
Debunking the stand that GST rate cannot be put on the statute, former Finance Minister P Chidambaram on Sunday said there is a precedent of a tax rate being put in the Constitution besides the powers government has to impose new levies in extraordinary situations.