[ad_1] In a series of announcements following the 55th GST Council meeting, Finance Minister Nirmala Sitharaman shared key decisions aimed at simplifying the GST process for small businesses and skill training providers. Company Value Change %Change FM confirmed that the Council has approved a concept note that aims to simplify the GST registration process for […]
GST Council: Used EVs bought by companies or modified and sold by sellers to be taxed at 18% on margin value, says FM – CNBC TV18
[ad_1] The 55th GST Council meeting on Saturday (December 21) outlined the Goods and Services Tax (GST) structure for electric vehicles (EVs). Finance Minister Nirmala Sitharaman said that new EVs attract a 5% GST and the Council aims to promote the adoption of electric vehicles. In a key clarification, Sitharaman stated that used EVs will […]
GST Council defers proposal to cut tax on food delivery charges via e-commerce platforms: Sources – CNBC TV18
[ad_1] The GST Council has deferred the proposal to reduce GST on delivery charges for food delivery via e-commerce platforms, sources informed CNBC TV18. The proposal, which was expected to provide some relief to the food delivery industry, was put on hold for further discussions. Company Value Change %Change In other GST-related updates, the Council […]
Adding goods to higher GST brackets is problematic, say experts – CNBC TV18
[ad_1] The Group of Ministers (GoM) formed by the GST Council has reportedly suggested introducing a “special rate” of 35% for tobacco and aerated beverages. At present, most tobacco products fall under the 28% GST slab, with the exception of tobacco leaves, which are taxed at 5% under the reverse charge mechanism. The GoM has also […]