Goods & Services Tax (GST): What became dearer and cheaper

[Bapun]

Govt to ask GST Council to cut rates for biodiesel

 

[Bapun]

The GST provision, requiring any good more than Rs 50,000 in value to be pre-registered online before it can be moved, is likely to kick in from October after a centralised software platform is ready, a top official said.

E-way bill system in GST to come from October - The Economic Times

 

[Bapun]

The GST Council cuts tax rate on some tractor parts from 28% to 18% and lowered the rate on job work on all textile related items to 5% instead of 18%

GST Council to crack whip on profiteering firms, cuts rate on tractor parts, others

 

[HOUSE-MD]

The GST Council cuts tax rate on some tractor parts from 28% to 18% and lowered the rate on job work on all textile related items to 5% instead of 18%

GST Council to crack whip on profiteering firms, cuts rate on tractor parts, others

Hope they reduce the GST on AC hotels too (Chennai barely has any non AC hotels). Pre GST the state govt of TN highly subsidised tax for hotels and kept VAT at just 2% but now suddenly at 18% eating cost has gone so high that people stopped eating at hotels which has made hotels to lose around 40-60% of the everyday sales.

Also they have to raise the theater tickets threshold from Rs 110 to Rs 150 so TN can maintain the cap on tickets at Rs 120.

Glad that textile items has got a cut from 18% to 5% which TN weavers were demanding.

 

[Bapun]

SUVs, luxury cars to cost more as GST cess raised to 25 per cent

The GST Council on Monday approved a proposal to hike cess on SUVs, mid-sized, large and luxury cars from present 15 per cent to 25 per cent. These mid-segment to luxurious cars had become cheaper following the implementation of GST (Goods and Services Tax) on July 1. Under the new tax regime, cars attract the top tax rate of 28 per cent, besides attracting a cess of 1-15 per cent in order to create a corpus to compensate states for loss of revenue from GST implementation.

SUVs, luxury cars to cost more as GST cess raised to 25 per cent

 

[Bapun]

The Goods and Services Tax (GST) rate of 3 per cent on gold was low and needs to be increased as it is consumed by the "very rich", feels Chief Economic Advisor Arvind Subramanian, the author of the Economic Survey.

According to the Economic Survey Volume II 2016-17, tabled in Parliament on Friday: "The tax on gold and jewellery products - items that are disproportionately consumed by the very rich - at 3 per cent is still low."

GST rate of 3% on gold too low: Economic Survey

 

[ABCDEFGH]

After GST, for the first time ordered from Domino's. Total amount is ₹302. Before GST it was ₹300 :em :haha

 

[Bapun]

Source

Source

 

[Bapun]

GST Rates Raised For Automobiles But Some Relief For Consumers Maintained

The changes announced are

Small Cars
1200 cc petrol cars: Had 3 percent tax advantage. GST Council maintains status quo.
1500 cc diesel cars: Had 3 percent tax advantage: GST Council maintains status quo.

Mid-Sized Cars
Post GST the rate had fallen from 48 percent to 43 percent: GST Council decided to raise overall GST rate to 45 percent.

Large Cars
Had 8 percent tax advantage: GST Council has increased cess by 5 percent.

Sports Utility Vehicles
Had 11 percent advantage: GST Council has increased cess by 7 percent.

Vehicles with 13 seats: Status quo maintained

Hybrids: Status quo maintained.

 

[Bapun]

Winter has luxury hotels in a sweat