The automobile industry has welcomed the GST Council’s decision to reduce tax rates on vehicles, calling it a timely step that will lift demand, make cars and two-wheelers more affordable, and particularly benefit first-time buyers and middle-income families.The new two-tier structure, announced on Wednesday, simplified levies to 5% and 18% from September 22, coinciding with…
FM Sitharaman at press conference after GST Council meet Union Finance Minister Nirmala Sitharaman hit back at opposition criticism over the government’s latest GST reforms, including raising the maximum tax slab from 28 per cent to 40 per cent. The increase, mainly on sin and luxury goods, had drawn jibes from the Congress, who dubbed…
Your next plate of hilsa may well have its origins in Bharuch, Gujarat, rather than the usual fishing grounds of West Bengal or Bangladesh. According to ET, Bharuch has delivered a record 4,000 tonnes of hilsa across the country during July–August, at a time when imports from Bangladesh have yet to begin this year and…
Representative image (AI image) NEW DELHI: The GST Council on Wednesday approved a sharp hike in taxes on sin and luxury goods, creating a new 40 per cent slab for items such as tobacco, pan masala, aerated drinks and premium vehicles. The move marks a major restructuring of the indirect tax system, as the government…
NEW DELHI: Recalling his Independence-Day promise of a GST recast, PM Narendra Modi Thursday welcomed decisions taken by GST Council while underlining the role of his govt as the driver of the “Next-Generation reforms”.“Glad to state the GST council comprising the Union and States, has collectively agreed to the proposals submitted by Union Govt on…
New Delhi: There is good news for buyers of top consumer segments such as ACs, TVs (over 32-inches) and dishwashers. The GST Council has cut the rates on the products from 28% to 18%, which will see significant cuts in consumer prices. FM Nirmala Sitharaman said the decision was taken in order to give relief…
The comprehensive GST modifications have been regarded by market analysts as a “consumption revival bombshell”. (AI image) GST rate cuts announced by the Modi government have served as a booster shot for the Indian economy and markets, with consumption driven growth expected to aid the economy at a time when it is faced by 50%…
MUMBAI: Guests of budget and mid-market hotels will benefit the most from the government’s decision to reduce GST on rooms costing up to Rs 7,500. The GST has been lowered from 12% with input tax credit (ITC) claims to 5% without ITC. The new rate will be effective from September 22. The 12% GST threshold…
India’s IT services industry is witnessing a slowdown in hiring since the start of the second quarter, a trend that staffing firms expect will continue amid global economic uncertainties, higher US tariffs and weaker discretionary spending.According to ET, data from Teamlease showed a 10% drop in overall hiring across India’s $283-billion outsourcing sector between July…
Jane Street Group filed an appeal in a court, alleging that Sebi denied it access to crucial documents needed to defend against market manipulation accusations.The New York-based trading firm has requested the Securities Appellate Tribunal in Mumbai to order Sebi to grant “full and free” inspection of the materials, a copy of the appeal it…
