Stocks Of ITC, Varun Beverages, Godfrey Phillips Decline Amid GST Hike Report

Shares of ITC, Varun Beverages and Godfrey Phillips India ended lower on Tuesday after the Group of Ministers on GST rate rationalisation decided to hike tax on sin goods like aerated beverages, cigarettes, tobacco and related products.

The GoM on GST rate rationalisation on Monday decided to hike tax on sin goods like aerated beverages, cigarettes, tobacco and related products to 35 per cent from the present 28 per cent, an official said.

Five accused in the fake goods and services tax (GST) billing scam in Gujarat were arrested by the Rajkot branch of the economic offences wing (EOW) today. The arrests happened after the police and EOW officials searched 14 locations simultaneously.

A court inAhmedabad has denied bail to journalist Mahesh Langa in a GST fraud case, observing that the offence alleged against him is serious and the offence being an economic one, affects the economy of the nation.

A journalist from Gujarat, in judicial custody in a case of alleged GST evasion, was charged in a separate case last week for allegedly possessing confidential government documents, sparking outrage from some quarters, including the Editors Guild.

Introduction of the Goods and Services Tax (GST) in India was a "classical example of cooperative federalism," Chief Justice of India D Y Chandrachud said on Saturday.

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Friday called to build consensus over bringing petrol, diesel under the Goods and Services Tax.

Maintaining financial discipline and regulatory compliance, domestic airline SpiceJet has cleared all its Goods and Services Tax (GST) dues.

Tamil Nadu BJP chief, K Annamalai, found himself in a spot of bother Friday after an "unintended breach of privacy" - the sharing of a private conversation between Union Finance Minister Nirmala Sitharaman and a leading businessman from the state.

Shri Ram Janmabhoomi Teerth Kshetra Trust general secretary Champat Rai has said the ongoing construction work connected to the Ram temple in Ayodhya is estimated to generate Goods and Services Tax (GST) of nearly Rs 400 crore.

GST Council headed by Union Finance Minister Nirmala Sitharaman on Monday decided to set up a Group of Ministers (GoM) on reducing tax rate on life and health insurance and cut GST on cancer drugs and namkeens.

At the 64th ACMA Annual Session, the SIAM President revealed that the Indian automotive industry has crossed a landmark figure of Rs 20 lakh crore.

Struggling with unemployment, a young man from Muzaffarnagar was in for a big shock when a team from the GST department landed up at his doorstep and told him that a company was being run in his name and a Rs 250-crore fraud had been committed.

Union Minister Nitin Gadkari on Monday said state finance ministers should consider reducing Goods and Services Tax (GST) on flex-fuel vehicles to 12 per cent in the GST Council meeting.