India’s Items and Providers Tax (GST) framework has continued to evolve since its introduction in July 2017, with 2024 marking a yr of reforms geared toward enhancing compliance, transparency, and ease of doing enterprise. From resolving legacy points by way of amnesty schemes to leveraging expertise for environment friendly tax administration, these reforms replicate a…
Nirmala Sitharaman chairs fifty fifth GST Council assembly in Jaisalmer GST Council on Saturday agreed to subject a clarification on taxation of popcorn, saying that pre-packed and labelled ready-to-eat snacks will entice a 12 per cent tax whereas an 18 per cent GST might be levied whether it is caramelised. There isn’t any change within…
The fifty fifth assembly of the Items and Providers Tax (GST) Council, chaired by Finance Minister Nirmala Sitharaman, concluded on December 21, 2024, in Jaisalmer, Rajasthan, unveiling important reforms aimed toward simplifying the tax construction and addressing essential points throughout a number of sectors. From modifications affecting electrical automobiles (EVs) to readability on popcorn taxation,…
Picture Supply : X Nirmala Sitharaman chaired the fifty fifth GST Council Assembly The Items and Companies Tax (GST) Council, chaired by Finance Minister Nirmala Sitharaman, made important choices in its fifty fifth assembly, aimed toward streamlining the taxation system and curbing tax evasion. Nevertheless, the council deferred a call on lowering tax charges for…
The products and providers tax council Saturday determined to maintain present vouchers, provided by a number of sectors equivalent to retailers, out of tax purview, a uniform tax fee of 18% on used automobiles together with electrical autos bought by companies, whereas deferring a call on discount in tax fee on insurance coverage merchandise. The…
Dec 21, 2024 01:47 PM IST 18% GST will proceed on premiums paid for insurance policies with medical health insurance cowl of over ₹5 lakh. The GST Council on Saturday postponed a choice on reducing tax charge on life and medical health insurance premiums, officers mentioned. Income Secretary Sanjay Malhotra attends a GST Council assembly…
