Layers of complexity due to multiple tax rates result in similar products being taxed differently. There should be a phased move towards a low single rate to reduce incentive for evasion.
Finance Minister Sitharaman announces decision taken at GST Council meet, adds cancer drugs, medicines for rare diseases and food products for special medical purposes exempt from GST.
Union finance minister Sitharaman says govt cleared 90% GST compensation owed to states & only ‘5-8%’ is held back subject to authentication certificates issued by auditor general.
Council members agreed to raise the threshold of launching prosecution to Rs 2 crore from the present Rs 1 crore & GST on husk of pulses was reduced to 0 from 5 per cent.
All India Gaming Federation, E-Gaming Federation, and Federation of Indian Fantasy Sports, which represent over 90% of online skill gaming market in India, issued joint statement Wednesday.
Several state finance ministers are ready to raise the issue of compensation to states as per GST law and to further extend it's duration, for it is a critical source of revenue.
According to government reply in Lok Sabha, the pilot phase of PMIS is being used to test concepts, strategies and systems before a full-scale implementation of the scheme.
Order for 87 MALE drones will be split between 2 Indian firms in 64:36 ratio to ensure there are 2 independent manufacturing lines with at least 60% indigenous components.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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