Infosys shares drop 1% after IT major slapped with Rs 32,403 crore GST notice for overseas expenses
Aug 01, 2024, at 06:41 pm
Bengaluru/IBNS: Shares of Indian multinational information technology company Infosys dropped 1 percent to the day's low of Rs 1,845.40 on BSE on Thursday (Aug 1) after the IT major was slapped with a RS 32,403 crore Goods and Services Tax (GST) notice by the Directorate General of GST Intelligence over overseas expenses, reports said.
Jul 31, 2024, at 05:58 pm
New Delhi/IBNS: Nitin Gadkari, the Union road, transport and highways minister, has written to finance minister Nirmala Sitharaman, seeking withdrawal of the 18 percent Goods and Services Tax (GST) on life and medical insurance premiums, reports MoneyControl.
GST Council tweaks rates for range of products and services
Jun 23, 2024, at 06:51 am
New Delhi: Union Finance Minister Nirmala Sitharaman presided over preliminary discussions with finance ministers from states and Union Territories to gather their perspectives ahead of the upcoming Budget.
Zomato says 'not liable' to pay any tax on delivery charges in response to GST notice
Dec 28, 2023, at 06:36 pm
Food delivery giant Zomato has said it is "not liable" to pay any tax on delivery charges responding to a notice served by the Directorate General of Goods and Services Tax Intelligence (DGGI).
28% GST on online gaming: GST Council agrees to review after 6 months of implementation
Aug 03, 2023, at 05:58 am
New Delhi: Finance Minister Nirmala Sitharaman on Wednesday announced the decision to implement 28% GST on the full face value of bets placed on online games, horse racing, and casinos.
GST Council decides to levy 28 pc tax on online gaming, casinos and horse-racing
Jul 12, 2023, at 10:58 pm
New Delhi: The all-powerful GST Council chaired by Union Finance Minister Nirmala Sitharaman on Tuesday decided to impose 28% tax on online gaming, horse racing and casinos.
GST Council Meet: 28% GST to be levied on online gaming, horse racing, casinos
Jul 12, 2023, at 05:30 am
New Delhi: The Group of Ministers (GoM) attending the 50th GST Council Meeting on Tuesday reached a decision to impose a 28 percent Goods and Services Tax (GST) on the entire value of online gaming, horse racing, and casinos.
Jul 12, 2023, at 05:09 am
New Delhi: In an effort to combat fake and fraudulent registrations under the Goods and Services Tax (GST) system, the GST Council has proposed several amendments to the CGST Rules, 2017.
Hotel stay, hospital rooms among items to cost more as GST Council imposes tax: Check out detail
Jun 30, 2022, at 01:25 am
New Delhi/UNI: The GST Council chaired by Finance Minister Nirmala Sitharaman on Wednesday decided to rationalise rates to remove the inverted duty structure and withdraw GST exemption in case of many items leading to a hike in tax rates.
Pre-packed labelled food brought under GST
Jun 29, 2022, at 04:59 am
New Delhi: The GST Council has accepted the recommendations of a group of ministers from states on withdrawing exemptions with a view to rationalising the tax.
GST council meeting defers rate hike on textiles amid opposition from states, industry
Dec 31, 2021, at 10:33 pm
New Delhi/IBNS: The GST council meeting chaired by finance minister Nirmala Sitharaman Friday decided to defer the rate of hike on Textiles from 5 percent to 12 percent till the next meeting in February, media reports said.
Zomato, Swiggy to collect 5 pct GST from consumers: Nirmala Sitharaman
Sep 18, 2021, at 04:41 am
New Delhi/IBNS: Food delivery apps like Zomato and Swiggy will collect five per cent Goods and Services Tax (GST) from consumers instead of the restaurant they pick up orders from, Union Finance Minister Nirmala Sitharaman said on Friday.
GST Council extends concessional rate on COVID medicines till Dec 31: Nirmala Sitharaman
Sep 18, 2021, at 02:54 am
New Delhi/IBNS: Union Finance Minister Nirmala Sitharaman on Friday announced that the GST Council has decided to extend the reduced rates on medicines used for COVID-19 treatment till December 31, 2020. The previous deadline was September 30.
GST Council reduces tax on equipment, meds to fight Covid19
Jun 13, 2021, at 04:25 am
New Delhi/IBNS: The Goods and Services Tax Council Saturday slashed taxes on medicines, medical equipment needed in hospitals and other items used to fight Covid-19.
GST Council meet on May 28; likely to discuss States' Covid-related demands
May 16, 2021, at 06:28 am
New Delhi/UNI: The Goods and Services Tax Council will meet on May 28 after a gap of seven months amid calls from States for policy measures related to COVID-19 pandemic.
Coronavirus act of God which affected GST collections: Nirmala Sitharaman
Aug 27, 2020, at 11:48 pm
New Delhi/IBNS: Amid pressure from several states to compensate the revenue shortfall, Union Finance Minister Nirmala Sitharaman on Thursday said Novel Coronavirus is an act of God that has affected the Goods and Services Tax (GST).
What the 37th GST council means for online lotteries in India
Dec 24, 2019, at 06:11 pm
At the 37 GST council that is taking place in Goa, the single tax rate for lottery tickets is being discussed. While tax on lottery tickets has been a state matter until now, the government is calling for a nation-wide rate.
GST Council approves 5 percent rate for under-construction properties
Feb 24, 2019, at 06:22 pm
New Delhi, Feb 24 (UNI/IBNS) In what is seen as an attempt to give relief to middle class and as well a timely boost to the real estate sector, the Goods and Services Tax (GST) Council, headed by Finance Minister Arun Jaitley, on Sunday announced that the GST payable for under construction properties will be five per cent for normal housing.
Indian government reduces GST rates in 88 items, sanitary napkins exempted
Jul 21, 2018, at 11:43 pm
New Delhi, July 21 (IBNS): In a bid to appeal the middle class and businessmen and with an eye kept on the Lok Sabha polls next year, the Indian government on Saturday slashed Goods and Services Tax (GST) rates on several products.
GST Council approves proposal to open migration window for tax payers till Aug 31
Jul 21, 2018, at 11:21 pm
New Delhi, July 21 (IBNS): The GST Council in its 28th meeting held here on Saturday approved the proposal to open the migration window for taxpayers, who received provisional IDs but could not complete the migration process.
Apr 10, 2018, at 08:45 pm
New Delhi, Apr 10 (IBNS): The Union Ministry of Finance announced on Tuesday that as per the decision of GST Council, e-Way Bill system for all inter-State movement of goods has been rolled-out from April 1 2018.
GST Council recommendations for Housing sector to promote affordable housing for masses
Feb 07, 2018, at 08:28 pm
New Delhi, Feb 7 (IBNS): The Union Finance Ministry announced on Wednesday that in its 25th Meeting held on January 18, 2018, the Goods and Services Tax (GST) Council had made several important recommendations for the Housing Sector.
GST Council has recommended relief for RWA members, amusement park, circus, etc
Feb 07, 2018, at 08:20 pm
New Delhi, Feb 7 (IBNS): The Union Ministry of Finance, on Wednesday, announced that the Goods and Service Tax (GST) Council has recommended several measures granting relief from GST on a number of goods and services during its meeting held on Jan 18, 2018.
GST Council approves rate change for 29 goods, 53 categories of services
Jan 19, 2018, at 04:36 am
New Delhi, Jan 18 (IBNS): The Goods and Services Tax (GST) Council on Thursday approved a change in tax rates of 29 goods and 53 categories of services.
GST rate changes come into effect on 178 items from today
Nov 16, 2017, at 03:21 am
New Delhi, Nov 15 (IBNS): In the 23rd meeting held on Nov 10, the GST Council had recommended major relief in GST rates on certain goods., which have been brought into effect from Wednesday.
GST Council reduces tax rate on 177 items from 28 per cent to 18 per cent
Nov 10, 2017, at 11:55 pm
Guwahati, Nov 10 (IBNS): The Goods and Services Tax (GST) Council on Friday decided to reduce the tax rate on 177 items from 28 per cent to 18 per cent offering major relief to the consumers and businessmen.
GST Council recommends rate structure for Petroleum and Oil Sector
Oct 11, 2017, at 08:12 pm
New Delhi, Oct 11 (IBNS): The Union Ministry of Finance announced on Wednesday that to reduce the cascading of taxes arising on account of non-inclusion of petrol, diesel, ATF, natural gas and crude oil in GST and to incentivise investments in the E&P (exploration and production) sector and downstream sector, the GST Council has made several recommendations.
GST Council approves relief package for exporters at its 22nd Meeting
Oct 07, 2017, at 08:25 pm
New Delhi, Oct 7 (IBNS): A relief package for exporters was approved by the GST Council at its meeting in New Delhi on Friday.
GST Council spells out Composition Scheme and relief for SMEs
Oct 07, 2017, at 08:10 pm
New Delhi, Oct 7 (IBNS): The Goods and Services (GST) Council has considered the implementation experience of the the past three months and gave relief to small traders in the GST, Union Finance Minister Arun Jaitley said following the 22nd meeting of the Council in New Delhi on Friday.
Arun Jaitley chairs GST Council meeting, GST rates for goods and GST Compensation Cess approved
May 19, 2017, at 09:26 pm
New Delhi, May 19 (IBNS): The 14th Goods and Services Tax (GST) Council Meeting, chaired by Union Minister of Finance Arun Jaitley was held at Srinagar, Jammu and Kashmir on Thursday where GST rates for goods and GST Compensation Cess were approved.