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GST Council clarifies on popcorn taxation

GST Council clarifies on popcorn taxation

Sat, Dec 21, 2024

GST Council on Saturday agreed to issue a clarification on taxation of popcorn, saying that pre-packed and labelled ready-to-eat snacks will attract a 12 per cent tax while an 18 per cent GST will be levied if it is caramelised.

IT department issues guidance note on Vivad Se Vishwas dispute resolution scheme

IT department issues guidance note on Vivad Se Vishwas dispute resolution scheme

Wed, Oct 16, 2024

It would also include cases pending before the Dispute Resolution Panel (DRP) and revision petitions pending before the Commissioner of Income Tax.

Budget 2024: How can Budget make the new income tax regime more attractive for salaried tax payers?

Budget 2024: How can Budget make the new income tax regime more attractive for salaried tax payers?

Mon, Jul 22, 2024

Budget 2024: The government is set to table its first full budget after elections and the wish list of taxpayers is as long as ever. This is especially so as the government did not make any key changes in the interim budget as it was a Vote on Account budget.

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Direct tax collections grow 15% till June 2017, at Rs 1.42 lakh crore

Direct tax collections grow 15% till June 2017, at Rs 1.42 lakh crore

Thu, Jul 06, 2017

Key Highlights: Direct tax collections rose 14.8%, at Rs 1.42 lakh crore Personal income tax rose 12.9% before refunds

Here are 22 most asked questions about GST answered

Here are 22 most asked questions about GST answered

Fri, Jun 30, 2017

Despite the launch of the GST rates some time back there are several questions in people's minds about GST and the specifically about the rates.

GST: The transition issues and what it means for India

GST: The transition issues and what it means for India

Fri, Jun 30, 2017

However, GST, as accepted by the Government, is going to see some hiccups in the beginning as is the case with any disruption. Past few weeks has seen companies destocking their products at a rate faster than expected. Industry experts believe that normalisation may return to the Indian economy only by the third quarter (Q3FY18) of the current fiscal, i.e. September to December 2017 period.

Sooner or later states will have to bring petroleum under GST, says Arun Jaitley

Sooner or later states will have to bring petroleum under GST, says Arun Jaitley

Wed, Jun 28, 2017

KEY HIGHLIGHTS:

GST rollout: Here's how much more premium you need to pay on insurance policies

GST rollout: Here's how much more premium you need to pay on insurance policies

Thu, Jun 22, 2017

Customers currently pay 15% service tax for financial services. Starting from July 1, 2017 the GST will replace all indirect taxes like service tax and Value Added Tax. Financial services and telecom have been put in the 18% GST slab.

With Mercedes-Benz, BMW cutting prices, luxury cars to be cheaper by upto Rs 7 lakh

With Mercedes-Benz, BMW cutting prices, luxury cars to be cheaper by upto Rs 7 lakh

Fri, May 26, 2017

More luxury car manufacturers are expected to reduce the prices after Mercedes-Benz and BMW announced price cuts.

GST: Companies are most likely to fatten their profits than pass on benefit on lower tax to consumers

GST: Companies are most likely to fatten their profits than pass on benefit on lower tax to consumers

Wed, May 24, 2017

Goods and Service Tax which has brought majority of items in the 18% tax slab may not bring down prices of goods. Even though availability of input credits, reduction of logistics cost and streamlining of businesses would theoretically bring down prices, Zeebiz speaks to companies and industry expert to check the reality.

GST Impact: Theme park & IPL visit to attract 28% tax; animal slaughtering & vet clinics exempt

GST Impact: Theme park & IPL visit to attract 28% tax; animal slaughtering & vet clinics exempt

Sat, May 20, 2017

The government has set 28% levy on visit to theme parks and sporting events like IPL while it has exempted animal slaughtering and services provided by veterinary clinics under the new GST tax, which will be implemented from July 1 this year.

GST Impact: Telecom services, mobile phones to be expensive from July 1

GST Impact: Telecom services, mobile phones to be expensive from July 1

Sat, May 20, 2017

According to experts, the telecom services and mobile handset prices will go up from July 1 once the new GST tax comes into effect as the government has finalised 18% tax on services provided by telecom operators as against 15% at present.

No plan to tax agri income; rich farmer very rare: Jaitley

No plan to tax agri income; rich farmer very rare: Jaitley

Tue, May 09, 2017

Finance Minister Arun Jaitley has said the government has no plans to tax agricultural income, including that of prosperous farmers, saying a rich farmer is "a very rare institution" and not the norm.

Niti Aayog recommends taxing farmers, Arun Jaitley says no

Niti Aayog recommends taxing farmers, Arun Jaitley says no

Wed, Apr 26, 2017

Bibek Debroy, member of NITI Aayog on Tuesday had made a strong case for taxing agriculture income, an opinion contrary to the government's stated position, as reported by PTI.

Govt removes 1% TCS on cash purchase above Rs 2 lakh

Govt removes 1% TCS on cash purchase above Rs 2 lakh

Thu, Mar 23, 2017

The government has done away with the 1 % tax on cash payments of over Rs 2 lakh for purchase of any goods or service after it banned cash dealings above that limit from April 1.

Not submitted investment proofs yet? Here's how you can still save tax

Not submitted investment proofs yet? Here's how you can still save tax

Mon, Mar 20, 2017

There are certain perquisites or expenses reimbursed by your employer which are eligible for tax benefits like uniform allowance, medical reimbursement, car allowance, telephone bills etc.

Here are 5 key things to know about funds transfer to National Pension Scheme

Here are 5 key things to know about funds transfer to National Pension Scheme

Wed, Mar 08, 2017

If you wish to transfer your savings from recognised Provident Fund (PF) and Superannuation Fund accounts to National Pension Scheme (NPS) here are five key things that you should know about funds transfer to NPS.

Five steps to transfer funds to National Pension Scheme tax free

Five steps to transfer funds to National Pension Scheme tax free

Tue, Mar 07, 2017

The government of India on Tuesday announced a clarification to the announcement made during the budget of 2016-17 of transferring funds from ‘recognised’ provident funds to the National Pension Scheme without being taxed.

HSBC reveals ongoing tax evasion probe in India, US, France, others

HSBC reveals ongoing tax evasion probe in India, US, France, others

Mon, Feb 27, 2017

HSBC bank in its recently released annual report has revealed tax evasion probe carrried against the bank, HSBC Swiss Private Bank and other HSBC companies in US, France, Belgium, Argentina and India.

RBI to reimburse banks MDR charges effective January 1

RBI to reimburse banks MDR charges effective January 1

Thu, Feb 16, 2017

The Reserve Bank will start reimbursing MDR charges to banks for payments made since January 1 through debit cards by citizens, in line with the government's move to further digital solutions.

Budget 2017: FinMin announces new benefits for NPS subscribers

Budget 2017: FinMin announces new benefits for NPS subscribers

Thu, Feb 02, 2017

Ministry of Finance said that in a bid to provide further impetus to the National Pension System (NPS), the government has introduced provisions in the Finance Bill 2017 in the Parliament today.

Govt moves to curb 'sham' deals in stock market

Govt moves to curb 'sham' deals in stock market

Wed, Feb 01, 2017

To clamp down on tax evasion through "sham transactions" in stock market, the government today proposed to provide exemption from long-term capital gains tax only if STT has been charged on purchase of shares and other "genuine cases" such as public offers.

Here are salient features of Direct Tax proposals of Budget 2017

Here are salient features of Direct Tax proposals of Budget 2017

Wed, Feb 01, 2017

Read salient features of Direct Tax proposals of India's Union Budget 2017-18 announced on February 1, 2017.

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