'Panic-Stricken' Centre Will Change GST Rates, Says P Chidambaram

Former Union Finance Minister of the Congress P Chidambaram today said a "shower of changes" is expected from the GST Council meeting in Guwahati and the "panic-stricken" Modi government has no option but to change the new tax rates. The high-powered committee headed by Union Finance Minister Arun Jaitley is meeting in the Assam's capital to discuss Goods and Services...

It was decided in the GST Council meet on Friday that all restaurants will now be levied GST at 5%, without input tax credit benefits.

"The facility to revise Form GST TRAN-1 declaration has been introduced on the GST Portal for taxpayers who had already filed it prior to November 9, 2017," GSTN said.

Union Finance Minister Arun Jaitley on Friday announced a big overhaul of new national tax GST, saying only 50 items will remain in the highest tax slab of 28 per cent, with 178 others moved to the 18 per cent bracket effective November 15. Dining out will also become cheaper, with food at all restaurants in the country, except those in starred hotels, to be taxed at ...

Yashwant Sinha today delivered a fresh instalment of biting criticism of the government, describing the new national sales tax or GST as "a total mess" which cannot be solved by "tinkering".

At the GST Council meet today, over 200 items may get cheaper from handmade furniture to shampoo to sanitary ware to plywood

The Finance Minister had earlier this week hinted at pruning the list of items in the highest GST tax bracket of 28 per cent.

The rates on over 200 daily-use items are expected to come down from 28% to 18% at the GST Council meet on Friday, said Sushil Kumar Modi.

Sensex edged up 32.12 points, or 0.10%, to close at 33,250.93 after trading between 33,463.80 and 33,111.54.

The association is seeking reduction of GST to 12 per cent on all hotels and bars.

Forty-two years after it broke box office records, posters of Bollywood superhit "Sholay" made an appearance in Surat, the financial capital of Gujarat. But in the election-bound state, their message was political. Carrying hashtags of #ReformGST, #SaveSurat and #SaveGujarat, the posters appeared at the venue of a rally by Rahul Gandhi.

Officials have said that items currently being taxed at 28 per cent will be looked into

Hours after former Prime Minister Manmohan Singh renewed his criticism of the NDA government's sudden ban on high value notes that he has called "organised loot", Finance Minister Arun Jaitley delivered a stinging rebuttal. Mr Jaitley said an exercise backed by "an ethical and moral rationale" was being described as loot, before going on to refer to the 2G and commonw...

If the government is to be believed, the ban on high-value currency led to a significant surge in India's tax base over the past year. To back this claim, the government has released a deluge of data. Including the claim that that there was a 25 per cent increase in tax returns in the April-August 2017 period, compared to the same period last year. That is correct, bu...