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Latest Articles in gst council
GST Council Meet Today To Fix Rates On Goods, Services
The tax that 1.3 billion Indians will pay on buying salt to luxury cars and on services like phone calls to dining out will be decided at the GST Council meet starting Thursday in Srinagar, where a tight security cover has been thrown in view of recent protests
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Jaitley Promises No Surprises In GST Rate Fixation
Finance Minister Arun Jaitley promised not to spring any surprises in fixing tax rates under the new GST regime, saying they will not be "significantly different" from current levels
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Centre, States Taxmen To Decide Services Rate In GST This Week
Tax officials of the central and state governments will this week hold their maiden meeting on devising a formula for tax rate to be levied on services under the Goods and Services Tax regime from July 1
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Andhra Pradesh To Push For Same Benefits Under GST For VAT Exempted Goods
Andhra Pradesh government will urge the GST Council that goods exempted from VAT be extended the same benefit under the new Goods and Services tax regime when it comes into force from July 1
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GST: The Final Lap
GST is at last a reality and there is still a lot that needs to be done in the next few months both by government and industry before we transition into this new regime with hope that brings the desired efficiency to our transaction tax system
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GST Council To Decide On Rates In May
The all-powerful GST Council has approved five amended rules for the Goods and Services Tax regime and gave "tentative" nod to the remaining four as the central government sprints to meet the July 1 rollout target
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GST Closer To July 1 Rollout As Council Reaches Agreement On Key Issues
A maximum of 15 per cent cess on top of the peak GST rate of 28 per cent will be levied on luxury goods and aerated drinks after the GST Council has approved a cap on cess along with supporting legislations
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Government Finalises Bills To Launch GST In July
The GST Council on Saturday fixed a 5 per cent tax rate on small hotels and restaurants and approved draft of key supporting legislations to enable rollout of the new indirect tax regime from July 1
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Model GST Bill To Go For 20% Peak Tax, Slabs Intact For Now
The GST Council has proposed to raise the peak tax rate to 20 per cent, from the current 14 per cent, in the model goods and services tax Bill to preclude the requirement of approaching Parliament for any change in rates in future
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GST Council Clears Law To Compensate States For Revenue Loss, Says FM Arun Jaitley
Inching towards rolling out of GST, the GST Council on Saturday approved a law to compensate states for any loss of revenue from the implementation of the new national sales tax but deferred approval for enabling laws to next meeting
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Centre, States Reach Consensus On GST; Rollout From July 1
The split of GST taxpayers between the two will be done horizontally with states getting to administer and control 90 per cent of the assessees below Rs 1.5 crore annual turnover, and the remaining 10 per cent coming under the Centre
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GST Deadlock Continues Over Dual Control, High Sea Taxes
The deadlock over the Goods and Services Tax continued on Wednesday with the Centre and states refusing to budge from their respective positions on issues like control of tax payers and taxing high sea trade, a stalemate that threatens to delay the rollout till September.
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GST: States Demand Tax On High Sea Sales, Higher Compensation
In fresh roadblocks to GST rollout, states on Tuesday demanded taxation rights for sales in high seas and also increasing the number of items on which cess is to be levied to compensate the states to deal with revenue loss estimated at Rs 90,000 crore post demonetisation
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GST Council Makes Headway On Bills, Stuck On Taxpayer Control
The all-powerful GST Council on Friday made a 'reasonable headway' on supporting legislations for the new indirect tax regime but its rollout from April 1 looked virtually impossible as it postponed discussion on the critical issue of administration and control of tax payers
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GST Can Be Rolled Out Anytime Between April 1-September 16, Says Arun Jaitley
Amid signs of slippage of the April 1 GST rollout target, Finance Minister Arun Jaitley on Saturday said pending resolution of "turf" issues, GST is a transactional levy that unlike income tax can be implemented anytime during the year
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