https://www.thehindubusinessline.com/economy/average-gst-rate-drops-to-1164-18-slab-contributes-most-to-collection/article68938105.ece Copy Goods and services in the ...
GST Council meetings often end in disagreements. But by announcing the rollout of next-generation reforms this Diwali, Prime Minister Narendra Modi has set a definitive timeframe for the Council to ...
Some medical device manufacturers have said that the industry will require a reasonable transition time to switch inventory in the supply chain to avoid any persecution on misplaced accounts of ...
India adopts a two-tier system 5% and 18% making essentials, food, household items, healthcare, and small cars cheaper. Tobacco, carbonated drinks, high-end cars, and leisure services will attract 40% ...
On May 6, 2024, the Treasury Department published TD 9996, “Relief Provisions Respecting Timely Allocation of GST Exemption and Certain GST Elections.” These regulations address the circumstances and ...
The 56th meeting of the GST Council, chaired by Finance Minister Nirmala Sitharaman on Wednesday, approved a major rationalisation of GST rates, scrapping the existing 12 per cent and 28 per cent ...
Input Tax Credit (ITC) provisions remain consistent with Section 16(1) of the CGST Act, 2017. Registered business can claim ITC on inward supplies used in the course or furtherance of their business, ...
GST Rate Changes: The revised GST rates will come into effect on September 22. The Goods and Services Tax (GST) Council on Wednesday approved a complete overhaul of India's tax consumption tax since ...
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