Interestingly, the debit card payments online is likely to be much below last October’s figures, an indication that more people are shifting their online purchases to credit cards to avail offers
Sitharaman said that a staggered approach or mechanism will be identified to hear the priority cases first to manage the workload
The latest version of GST, introduced first in 2017, curtails the number of slabs to just two – 5 percent and 18 percent
GST rationalisation helps cement makers, not homebuyers, analysts cautioned, stating that a change in cement prices won't impact the final house price.
Here’s everything policyholders need to know about the GST cut on future premiums and policy benefits
The GST revamp is set to ease household budgets, with cheaper essentials, cars, and loans, though premium shopping may get costlier.
The GST Council’s new framework, with reduced rates on essentials and revised auto levies, is set to boost household savings and make cars cheaper.
The GST Council has slashed rates on a wide range of consumer goods — from air conditioners and refrigerators to small cars — with the revised rates taking effect from September 22, who will gain? India Inc or the middle class? Catch Moneycontrol's Shweta Punj in conversation with ratik Jain, Partner and National Leader, Indirect Tax, PWC & Abhishek Jain, Partner and National Head, Indirect Tax, KPMG India
Lower tax on cement and stable production costs should benefit cement companies. However, does it change the investment outlook for cement majors?
GST rate cuts across food, beverages, footwear, and appliances are set to boost consumption-oriented stocks, with firms like Nestlé, Voltas, Havells, Relaxo, and Bata among key beneficiaries.
Both caramel and salted popcorns will be charged at a uniform tax rate of 5 percent from September 22
Shrivastava also said that tax rates for health-related items and 33 life-saving drugs and medicines have been cut from 12 percent to nil
The GST Council approved the restructuring of GST regime that will see the implementation of two rates of 5 percent and 18 percent from September 22
Jharkhand Finance Minister Radhakrishna Kishore stated that around 75 to 80 per cent of coal and steel production from Jharkhand is consumed outside the state. Thus, the benefits of GST are accruing to consumer states.
The new rate structure will be applicable from September 22 and could lead to a revenue shortfall of Rs 93,000 crore
The states are Himachal Pradesh, Jharkhand, Kerala, Punjab, Tamil Nadu, Telangana and West Bengal and Karnataka
Imposing additional levy on sin goods is being considered an option to compensate states for revenue loss for a short-term, sources say.
Edible oils face a 5 percent GST rate while input materials, including packaging, chemicals and processing equipment, attract higher rates of 12-18 percent
The compensation cess, levied on luxury goods, tobacco, coal, and SUVs, is expected to bring in Rs 1.67 lakh crore this fiscal year.
According to Nomura, the GST Council may scrap the 12 percent slab in its upcoming meeting, potentially lowering taxes on tractors, air conditioners, and term life insurance