New Delhi: The GST Council has cleared the pending rules, including transition provisions and returns, with all the states agreeing to July 1 roll out of the Goods and Services Tax. “We were discussing the rules and (they) have been completed. Transition rules have been cleared and everybod…
Tag: Thomas Isaac
GST Council’s next step: Ensuring tax benefits are passed on to consumers
New Delhi: After having fixed the rates of the goods and services tax (GST) on almost all commodities and services, the powerful federal tax body GST Council is trying to ensure that businesses pass on any tax reduction benefit to consumers when the new indirect tax regime comes into force on 1 J…
GST Council finalises tax rates on 80-90% goods & services; Keeps essential items in lowest bracket
The GST Council on May 18 finalised tax rates on 80-90 per cent of goods and services under the four-slab structure with essential items of daily use being kept in the lowest bracket of 5 per cent. The Council, headed by Union Finance Minister Arun Jaitley and comprising representatives of all st…
Rapid industrialisation in Coir sector soon: Kerala FM
Kerala’s coir industry will be thrown open for large scale industrialisation, Kerala Finance Minister Thomas Isaac has said. “New technologies will be encouraged and government will give subsidy to facilitate private players who would make large scale investments,” he told on December 5. The Mini…
GST Council consensus emerging on April 1, 2017 rollout, Rs 25 lakh threshold
As the Goods and Services Tax (GST) Council comprising the Centre and states met here on September 22 — its first session after it was formed last week — a consensus seemed to emerge among the members to usher in the new tax from April 1, 2017. They have also resolved to fix the upper […]<…