Gst Rate Cut News

Politics

GST Council to brainstorm over revenue growth strategy

Union finance minister Nirmala Sitharaman and state ministers represented in the Council will seek ways of plugging revenue leakageThe central government has set a GST revenue target of ₹4.5 trillion for the next four months

1 min read18 Dec 2019
News

Maggi maker Nestle fined ₹73.15 crore for not passing on GST rate cut

Nestle has denied the benefit of tax reduction to customers in contravention of the provisions of Section 171 (1) of the CGST Act 2017Nestle has been asked to deposit the amount within 3 months

2 min read12 Dec 2019
Politics

GST Council to cut rates, luxury hotels and catering firms on the list

The Council is likely to announce a cut in tax rates at its Friday meetingThe idea is to provide impetus, by way of lower taxes, to segments of industry that are not big revenue contributors

1 min read19 Sep 2019
Auto News

Much-awaited GST meet on Friday may not give auto sector any succour: Report

A govt study said the total annual revenue loss could be as much as ₹50,000 cr if the panel decided to lower tax rates for the sector to 18%The auto sector has been reeling from the worst slump in nearly two decades

2 min read17 Sep 2019
Videos

GST Council slashes tax rates on electric vehicles, chargers

After budget boost, the GST Council slashed rates on electric vehicles. The GST rate on electric vehicles was slashed from 12% to 5%. The GST rate on electric vehicle chargers was reduced from 18% to 5%. The hiring of electric buses by local authorities has also been made tax free

27 Jul 2019
Politics

GST rate cuts now benefitting consumers more than before: Survey

The trend shown by the survey indicates that prices of household items may soften furtherThe survey said 30% people believed in April that they are getting the benefit of tax cuts on items like shampoo, cosmetics and groceries

2 min read23 Apr 2019
Money

Opinion | What GST realty cut means for you

The rate cut will induce buyers’ enthusiasm, though developers will face challenges as the input tax credit is now excludedMore properties from the premium budget now fall in to the affordable category, benefitting buyers mainly in cities like MMR and NCR, where property prices are high

2 min read9 Mar 2019
News

Govt explores framework to ensure GST rate cut benefits consumers

The fresh initiative is being considered in the wake of rising number of complaints against firms that are found tweaking rules to avoid lowering retail pricesThe new framework may stipulate timelines within which the GST rate cut benefits would have to reach consumers

2 min read6 Mar 2019
Money

How the GST rate reduction will impact property prices

Since developers will not be able to claim input tax credit, will cost of property come down?The cost of buying a house will come down, but not to the same extent by which GST rates have been cut

4 min read26 Feb 2019
Markets

Goods and services tax rate cut a conundrum for realty developers

The impact of lower GST in the absence of input tax credit, therefore, will vary based on the region and the projectThis is a win-win scenario for developers and buyers, if lower GST can fuel sales

2 min read26 Feb 2019
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