New Delhi: India will likely be able to roll out the goods and services tax (GST) from July 1 following a breakthrough on Monday over the seemingly intractable issue of tax administration after the Centre accommodated states’ concerns. “It’s a significant headway,” Union F…
Tag: Rajeev Dimri
Expert view: Key takeaways from the new GST rates
Uncertainty on rates for gold is not warranted as gold is a key determinant of the rate structure, said Prashant Deshpande, Partner, Deloitte Haskins & Sells LLP, while commenting on the 4-tier indirect tax structure announced by the GST Council today. He further said: “The four rate st…
GST council sets exemption threshold for tax at Rs. 20 lakh
Giving relief to small businesses, the Goods & Services Tax (GST) Council has decided that threshold for exemption for businesses would be an annual turnover of Rs. 20 lakh, while the businesses in the Northeastern and hill states with annual turnover below Rs. 10 lakh would be out of the GST…