Tax Rates

Market participants say that while the government may not be in favour of rolling back a tax levy as they might lose out on a revenue source, at least the structure can be reviewed so that the impact is minimised.

Customs duty cuts to cost Rs 1,900 crore: CBIC Chairman

The government is expected to collect Rs 2,35,000 crore from customs in FY25, which is expected to rise to Rs 2,40,000 crore in FY26

After Budget rejig, India’s entry level tax rates lower than other major economies: MC Analysis

In her eighth budget, the finance minister raised the tax exemption limit to Rs 12 lakh a year from Rs 7 lakh and also rationalised rates across tax slabs

Record 7.28 crore income-tax returns filed; 72% opt for new regime

Indicating the widening of the tax base, over 58.57 lakh individuals filed their returns for the first time, the I-T department has said

If the rates stay higher for longer, then the US will need a Carbon Tax

The end of the era of low interest rates makes it all the more necessary to put a price on carbon

Budget 2024-25: FinMin invites industry views on tax rates, laws for reducing litigation

The suggestions are to be sent to the ministry by June 17 and the full budget for 2024-25 is expected to be presented in Parliament in the second half of July.

MC CEO Survey: A look at how India Inc titans view inflation, interest rates & other economic indicators

Ahead of the release of Interim Budget, Moneycontrol spoke to 53 CEOs to understand how the India Inc is viewing the country's economy. Around 47% among them are "very optimistic" about the business sentiment, and nearly 70% said they plan to invest in the next six months. Here's more

Govt reduces windfall tax on crude oil to Rs 4,100

The government has left the windfall tax on petrol, diesel and aviation turbine fuel at zero

Why domestic withholding tax rates on royalties and fees for technical services were increased

An increase in the rate of withholding tax on such payments to non-residents brings it on par with the base rate of tax prescribed in domestic law for various payments to non-residents such as dividends or share buybacks

Property tax to be imposed in municipal areas in J-K from April 1, NC opposes move

The tax rates will be five per cent of taxable annual value (TAV) for residential properties and six per cent for commercial properties, it stated.

Discrepancy in tax rates on papad and 'kachri' should be rectified: Sisodia at GST Council meet

"There is zero per cent GST on papad, but kachri has been kept in the 18 per cent slab. When there is five to 12 per cent tax on namkeen, pasta, pizza bread, vermicelli, etc, it is wrong to levy 18 per cent tax on kachri," Sisodia said in a tweet.

Budget 2023: Reforms are required if we’re to become a global manufacturing hub

India’s business climate is an outlier given the current global headwinds. But further work is required with regard to taxation, credit, incentives, and more, to ensure that the growth trajectory stays on course.

Pay GST on pre-packed, labelled food items, hospital rooms above Rs 5,000 from July 18

Last month, the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising her state counterparts, had pruned the exemption list and imposed tax on a host of goods and services.

GST Council accepts interim report of GoM on rate rationalisation, sources say

The GoM, chaired by Karnataka Chief Minister BS Bommai, was tasked with looking into matters related to rate rationalisation and correction of the inverted duty structure.

Budget 2020 | Go for certainty and resolve for that Midas touch

No doubt, the government has done much of the heavy lifting, but it has to go a few steps further to get the growth engine humming.

Macro Matters | Which is a bigger boost to the economy -- tax cuts or government spending?

The UN Conference on Trade and Development says that for India, a $1 billion cut in direct taxes will lead to a $0.2 billion boost to GDP

Companies are hoping govt gives them time to adjust to GST: Tax expert

L Badrinarayanan, Partner-Tax of law firm Lakshmikumaran & Sridharan India, said that with 3-4 billion transactions a month expected, companies are concerned about unintentional wrongdoing.

GST rate, monsoon key factors for auto sales growth: Toyota

Tax rates on automobiles in the upcoming GST and monsoon will be crucial factors which will influence the rate of growth of the industry in the new fiscal, according to Toyota Kirloskar Motor.

Budget 2017: Separate exemption limit for insurance under sec 80C a must

With the social fabric of the country undergoing changes, it is imperative to encourage the lower/ middle income segments to provide for their own security.

GST Council to discuss tax rates, dual control tomorrow

With barely a fortnight left for Parliament's Winter Session, the GST Council will begin its crucial 2-day meeting tomorrow to decide on tax rate including the levy of cess and sort out the vexed issue of jurisdiction over assessees.

Possible to slash tax rates if all pay taxes: Goyal

There is a "possibility of reducing tax rates", if everyone pays taxes, says Power Minister Piyush Goyal.

Budget 2016: Expect an increase in income tax exemption limit

Among other expectations, finance minister may choose to increase the income tax exemption limit by Rs 50000.

Budget 2016: Tax slab changes, home loan rebate hike likely, says Keki Mistry

Keki Mistry- Vice Chairman and Chief Executive Officer, HDFC believes it is important to increase the tax exemptions on home loans as even a marginal increase will pep up the home-buyers sentiments.

Budget 2016: Time to revive investments and continue fiscal consolidation

Enhancing capital spending while maintaining Fiscal Discipline to be watched for in Union Budget 2016-17