Gst Rate Cuts
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GST Council Exempts Gene Therapy, Cuts Tax Rate For Rice Kernels
Jaisalmer (Rajasthan): Union Finance Minister Nirmala Sitharaman on Saturday announced that the Goods and Services Tax Council has approved the reduction of GST on rice kernels to 5 per cent and exempted life-saving gene therapy from tax.
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55th GST Council Meet Defers Decision On Health Insurance Premium Rate Cuts
The Goods and Services Tax (GST) Council on Saturday deferred the decision on rate cuts on life and health insurance premiums, as some more technicalities need to be ironed out.
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Group Of Ministers To Look Into GST Rate Cut Demand On Health Insurance: Nirmala Sitharaman
GST Council headed by Union Finance Minister Nirmala Sitharaman on Monday decided to set up a Group of Ministers (GoM) on reducing tax rate on life and health insurance and cut GST on cancer drugs and namkeens.
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At Key GST Meet, States Request Rate Cut On Health Insurance Premiums
Bihar Deputy Chief Minister Samrat Chaudhary was appointed as the convenor of the Group of Ministers on GST rate rationalisation.
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India Revenue Secretary Says Open To 'Tinkering' Tax Rates On Automobiles
India is open to discussing a change in tax rates on automobiles, the country's revenue secretary said on Wednesday, indicating receptiveness over negotiation on a long-standing request from automakers for lower taxes.
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Maruti Suzuki Announces Price Cut On Eeco Ambulance As Government Reduces GST
With GST rate on Ambulance lowered to 12 per cent from 28 per cent, Maruti Suzuki India has decided to reduce prices of the Eeco Ambulance. It is now priced at Rs. 6.16 lakh (ex-showroom, Delhi).
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No Tax On Black Fungus Medicine, 5% GST To Continue On Covid Vaccines
Tax on medicines, some hospital equipment and other items needed in the fight against COVID-19 has been reduced by the Goods and Services Tax Council. The tax cut is based on recommendations by a Group of Ministers amid the pandemic.
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Government Cuts Tax On Oxygen Concentrators For Personal Use
The government on Saturday slashed Integrated GST rate on oxygen concentrators for personal use to 12 per cent, from 28 per cent earlier, for two months till June 30.
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GST Council Meeting: No Revision On GST Rate For Two-Wheelers
The 41st GST or Goods and Services Tax Council meeting was held today, chaired by Finance Minister, Nirmala Sitharaman. There was no discussion on revising GST rates for two-wheelers and therefore, the current rate of 28 per cent is still applicable.
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"Two-Wheelers Merit A GST Rate Revision," Says FM Nirmala Sitharaman
Responding to a question during a CII virtual forum, the Finance Minister said that two-wheelers are "neither a luxury nor a sin good," and would merit a rate revision.
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GST Reduction & Scrappage Policy Will Help Revive Commercial Vehicle Industry: Ashok Leyland
The highly awaited scrappage policy and lowering of GST rates could play an essential role in reviving the commercial vehicle sector, which has been facing a constant downward trend for quite some time now. According to a top Ashok Leyland official, the GST rate cut and the scrappage policy will be beneficial in reviving the Indian CV space. As per...
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Budget 2020: GST Most Historic Reform, Says Nirmala Sitharaman
The Union Budget 2020-21 comes at a time when the economy is staring at a more than 11-year low annual expansion rate and thousands of job cuts amid weakness across sectors.
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GST Council Meeting: No Reduction In GST For The Auto Industry
The GST council has not announced any rate cuts on the passenger vehicles and that means there will be no change in the price of cars and bikes.
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GST Panel Unlikely To Favour Tax Rate Cut For Auto Sector
India's goods and services tax (GST) panel is unlikely to approve lowering the tax for the auto and allied components sector this week, as a study has warned of major revenue losses, two government officials said.
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GST Fitment Committee Opposes Tax Rate Cut On Automobiles
Late last week, the GST Fitment Committee, a panel of GST officials from the GST Council, came together to discuss the repercussions of GST rate cut on automobiles.
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GST Council Exempts Gene Therapy, Cuts Tax Rate For Rice Kernels
Jaisalmer (Rajasthan): Union Finance Minister Nirmala Sitharaman on Saturday announced that the Goods and Services Tax Council has approved the reduction of GST on rice kernels to 5 per cent and exempted life-saving gene therapy from tax.
-
55th GST Council Meet Defers Decision On Health Insurance Premium Rate Cuts
The Goods and Services Tax (GST) Council on Saturday deferred the decision on rate cuts on life and health insurance premiums, as some more technicalities need to be ironed out.
-
Group Of Ministers To Look Into GST Rate Cut Demand On Health Insurance: Nirmala Sitharaman
GST Council headed by Union Finance Minister Nirmala Sitharaman on Monday decided to set up a Group of Ministers (GoM) on reducing tax rate on life and health insurance and cut GST on cancer drugs and namkeens.
-
At Key GST Meet, States Request Rate Cut On Health Insurance Premiums
Bihar Deputy Chief Minister Samrat Chaudhary was appointed as the convenor of the Group of Ministers on GST rate rationalisation.
-
India Revenue Secretary Says Open To 'Tinkering' Tax Rates On Automobiles
India is open to discussing a change in tax rates on automobiles, the country's revenue secretary said on Wednesday, indicating receptiveness over negotiation on a long-standing request from automakers for lower taxes.
-
Maruti Suzuki Announces Price Cut On Eeco Ambulance As Government Reduces GST
With GST rate on Ambulance lowered to 12 per cent from 28 per cent, Maruti Suzuki India has decided to reduce prices of the Eeco Ambulance. It is now priced at Rs. 6.16 lakh (ex-showroom, Delhi).
-
No Tax On Black Fungus Medicine, 5% GST To Continue On Covid Vaccines
Tax on medicines, some hospital equipment and other items needed in the fight against COVID-19 has been reduced by the Goods and Services Tax Council. The tax cut is based on recommendations by a Group of Ministers amid the pandemic.
-
Government Cuts Tax On Oxygen Concentrators For Personal Use
The government on Saturday slashed Integrated GST rate on oxygen concentrators for personal use to 12 per cent, from 28 per cent earlier, for two months till June 30.
-
GST Council Meeting: No Revision On GST Rate For Two-Wheelers
The 41st GST or Goods and Services Tax Council meeting was held today, chaired by Finance Minister, Nirmala Sitharaman. There was no discussion on revising GST rates for two-wheelers and therefore, the current rate of 28 per cent is still applicable.
-
"Two-Wheelers Merit A GST Rate Revision," Says FM Nirmala Sitharaman
Responding to a question during a CII virtual forum, the Finance Minister said that two-wheelers are "neither a luxury nor a sin good," and would merit a rate revision.
-
GST Reduction & Scrappage Policy Will Help Revive Commercial Vehicle Industry: Ashok Leyland
The highly awaited scrappage policy and lowering of GST rates could play an essential role in reviving the commercial vehicle sector, which has been facing a constant downward trend for quite some time now. According to a top Ashok Leyland official, the GST rate cut and the scrappage policy will be beneficial in reviving the Indian CV space. As per...
-
Budget 2020: GST Most Historic Reform, Says Nirmala Sitharaman
The Union Budget 2020-21 comes at a time when the economy is staring at a more than 11-year low annual expansion rate and thousands of job cuts amid weakness across sectors.
-
GST Council Meeting: No Reduction In GST For The Auto Industry
The GST council has not announced any rate cuts on the passenger vehicles and that means there will be no change in the price of cars and bikes.
-
GST Panel Unlikely To Favour Tax Rate Cut For Auto Sector
India's goods and services tax (GST) panel is unlikely to approve lowering the tax for the auto and allied components sector this week, as a study has warned of major revenue losses, two government officials said.
-
GST Fitment Committee Opposes Tax Rate Cut On Automobiles
Late last week, the GST Fitment Committee, a panel of GST officials from the GST Council, came together to discuss the repercussions of GST rate cut on automobiles.
