Rnr

Speaking to CNBC-TV18, Arjun Meghwal, Minister of State for Finance said that decision of RNR will be based on the consensus. In an earlier meeting, the council had set the threshold limit at Rs 20 lakh.

What makes for an ideal GST rate? Harsh Mariwala has the answer

The key thing to watch would be GST rates, says Harsh Mariwala, CMD of Marico. A Revenue Neutral Rate (RNR) of 20-22 percent and a Merit List Rate of 8-10 percent will be ideal from a consumer point of view, he says.

Roadblocks cleared, GST passage seen sooner rather than later

After years of negotiations, arguably the country's biggest tax reform has likely cleared most of its hurdles and its rollout appears to be on track for its intended April 1, 2017 target.

States on board for 1% manufacturing tax if compensated:Guj FM

Another meeting is scheduled for July where revenue neutral rate and dual control will be discussed, says Saurabh Patel, Gujarat FM said.

Is GST a boon for FMCG sector or not? EY expert decodes

Reports suggest the FMCG sector contributes a significant USD 6.5 billion in direct and indirect taxes.

Industry chambers, trade unions bat for passage of GST

The top 100 leaders from each chamber will lend their support in a 90-minute long interactive session with the FM.

CEA report on GST rate may be submitted on Friday

The CEA panel may also recommend concessional, lower, standard and higher GST rates. Sources suggest cigarettes, luxury cars and beverages may have a higher GST rate. Precious metals on the other hand may be taxed at a concessional GST rate.

State FMs to elect new Chmn on Friday;discuss model GST law

The Empowered Committee of State Finance Ministers has to elect the new Chairman as K M Mani has resigned from the post subsequent to stepping down as the Kerala Finance Minister.

Centre bats for sub-20% GST RNR; no consensus among panel

A panel, headed by Chief Economic Adviser Arvind Subramanian, was set up in June this year to set a RNR.

FinMin batting for a moderate GST rate

Keeping this is mind a new revenue-neutral rate (RNR) is being worked out by the National Institute of Financial Policy.

NIPFP reworks revenue neutral rate for GST: Finmin sources

The central sales tax will be subsumed into GST plus the original states rather than manufacturing states will also have the right to levy one percent additional tax in the initial two years.