The Goods and Services Tax (GST) Council has brought good news for all insurance consumers. GST rates for insurance have been reduced from 18% to nil, bringing relief to policyholders. This has led some consumers to consider delaying premium payments. If you are planning to delay payment of your premium after September 22 to get…
Shares of tractor makers jumped sharply on Thursday, September 4, after the GST Council slashed tax rates on tractors and related parts, providing a major boost to companies in the agri-machinery space. Escorts Kubota, VST Tiller Tractors shares rally Escorts Kubota Ltd. rose as much as 8.7 per cent to Rs 4,000, while VST Tillers…
The endless confusion over GST rates on items such as popcorn, parontha and paneer has ended with the Council approving a new structure on September 3. There had been repeated confusion over GST rates in the past. Rotis and packaged paranthas were placed in different slabs, loose paneer and packaged paneer were taxed differently, and…
The upcoming next-generation Goods and Services Tax (GST) reforms will further simplify tax processes and reduce compliance burdens, particularly for small businesses, Union Finance Minister Nirmala Sitharaman said on Tuesday. The finance minister was speaking at the 120th Foundation Day Celebrations of City Union Bank in Chennai. GST Council meet on September 3-4 This comes…
Finance Minister Nirmala Sitharaman clarified in Parliament on Monday that apartment associations are required to register under GST if their aggregate turnover exceeds Rs 20 lakh (Rs 10 lakh in special category states) in a financial year, and the associations are required to pay GST only where the maintenance charged is more than Rs 7,500…