The IMF on Wednesday described the Goods and Services Tax (GST) as a “milestone reform” in India’s tax policy, but pushed for a simplified structure, saying the multiple rate structure and other features could give rise to high compliance and administrative costs.
The first “green bus” project in the country, started at the instance of Union Transport Minister Nitin Gadkari here on December 6, 2016, has run into rough weather with a GST dispute arising between the operator, Scania India, and the Nagpur Municipal Corporation (NMC).
Bihar deputy chief minister and GST council’s member Sushil Modi on Thursday said the that council can think of bringing the petroleum products under the new tax regime only after the monthly revenue target of Rs 1 lakh crore is achieved.
The Centre and the industry favour inclusion of petroleum products in the Goods and Services Tax (GST) but the GST Council will take a final call on it, Oil Minister Dharmendra Pradhan said on Wednesday.
Country’s solar industry has sent out an SoS to policy makers, including key officials in the financeNSE -0.84 % ministry, seeking urgent clarification on the rate of goods and services tax (GST) on solar projects after controversial Authority for Advance Rulings (AAR) held these would face 18% and not 5%.
Union minister for petroleum and natural gas Dharmendra Pradhan has said that the Centre was powerless in bringing petroleum products under the Goods and Services Tax (GST).
The Goods and Services Tax (GST) Council, at its 28th meeting, reduced the tax rates on more than 50 items, including commonly used products like sanitary pads, and white goods like washing machines, refrigerators and kitchen appliances.
ET Now learns from sources that both natural gas and jet fuel are unlikely to be brought under the GST ambit this year and that’s despite the demand for it from the industry and the petroleum and civil aviation ministeries. Rituparna Nath brings you more details.
On the fourth day of the ongoing nationwide transporters’ strike, more trucks stayed off roads on Monday, said transport organisations.
The GST Council delivered a fresh round of rate cut on Saturday to benefit consumers, slashing the levy on nearly 100 items, including white goods, sanitary napkins, handicrafts, perfumes and paints, in what was seen as a pre-election bonanza.