Cabinet Gives Approval For Amendments To GST Laws

The Cabinet gave approval to GST laws amendments today, which included hiking threshold limit for availing composition scheme dealers to Rs 1.5 crore, among other things.

Several consumer electronics companies, including Samsung, have promised that they will pass on the full benefits to the consumers.

Union Minister Arun Jaitley today exuded confidence that GST rates on cement, ACs and televisions will be cut as tax revenues from them increase, and only luxury and sin goods will attract the highest slab of 28 per cent.

Tax officers in states and union territories will reach out to trade and industry bodies, Ministry of Micro, Small and Medium Enterprises (MSMEs), to understand their issues and grievances relating to GST and would place them before the Council on August 4.

Notwithstanding the demand from the airlines, the government on Wednesday said there was no proposal to bring Aviation Turbine Fuel (ATF) under GST.

The Goods and Services Tax is set to become a big challenge for the otherwise "financially prudent" Gujarat once the 14 per cent compensation commitment of the centre winds up, 15th Finance Commission Chairman NK Singh said on Monday.

Home Minister Rajnath Singh today said the central government is open to further review of the GST rates of different items as it has just reduced taxes of 88 consumer-centric products such as refrigerators, washing machines and sanitary napkins.

A JD(U) member in the Rajya Sabha today demanded reduction in the GST rate on Haj pilgrimage.

The GST Council, set up by the Indian Government has reduced the GST rate on lithium-ion batteries for electric cars from 28 per cent to 18 per cent. Although this reduction is not as drastic as predicted earlier, the 10 per cent rate in reduction of GST on these batteries will help reduce the overall price of electric vehicles in India.

GST Council on Saturday reduced tax rates on over 50 items including small televisions and lithium-ion batteries.

Women politicians, cutting across party lines, have welcomed the government's decision on scrapping GST on sanitary napkins.

The GST Council has pruned the 28 per cent slab by cutting tax rates on 191 goods over the last one year, leaving just 35 items, including ACs digital cameras, video recorders, dishwashing machine and automobiles, in the highest tax bracket.

Delhi Deputy Chief Minister Manish Sisodia on Friday said that the government should either completely abolish the 28 per cent tax bracket or reserve it only for "sin goods."

The powerful GST council on Saturday cut tax rates on over 60 products including washing machines and refrigerators and simplified compliance norms for most businesses. The new tax rates will be applicable from July 27.