GST At 18% On Sale Of Used Cars Only If Seller Earns A Margin: Report

A registered person will have to pay GST on sale of old and used vehicle only if the seller has earned a margin, which is the selling price is higher than the depreciation adjusted cost price of the vehicle, sources said.

Popcorn, in loose form, sold in movie theatres will continue to attract GST at a 5 per cent rate, same as in restaurants, government sources said.

In a recent development, the GST Council of India has increased the GST on small used cars and EVs from 12 to 18%. Here's how it will affect buyers.

Following confirmation of three different tax rates for specific types of popcorn, people have taken to social media to share humorous reactions.

Centre's move to tax popcorn differently based on its sugar or spice content has sparked a debate, with two former government economic advisers questioning the tax system introduced in 2017.

India's decision to tax popcorn differently based on its sugar or spice content has drawn criticism from the opposition and sparked a reaction on social media, with two former economic advisers questioning the move.

In an exclusive conversation with Avneet Singh Marwah, founder of SPPL, a company catering to this segment. Ankit Sharma from Gadgets 360 got a chance to sit down with Avneet Singh Marwah, CEO/Director of Super Plastronics Limited (SPPL). Under his leadership, SPPL launched four brands in India: Kodak TV, Thomson, White Westinghouse, and Blaupunkt TV. We also gathered...

The 55th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman on Saturday, announced several key recommendations to streamline tax processes and offer relief to individuals and businesses.

The goods and services tax council on Saturday decided to levy an 18 per cent GST on margin value on the sale of used electric vehicles by businesses and agreed to keep jet fuel (ATF) out of the 'one-nation-one-tax' regime.

The Himachal Pradesh government on Saturday urged the Centre to make some arrangement for hilly states in lieu of the revenue loss due to GST implementation and sought compensation on the pattern of the Kyoto protocol.

In a significant move to plug leakage, the GST Council on Saturday approved a proposal to implement 'Track and Trace Mechanism' for specified evasion-prone commodities.

From reducing GST rate on fortified rice kernel (FRK) to fully exempt GST on gene therapy, the 55th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman, on Saturday made some key recommendations.

Journalist Mahesh Langa, who has been in jail for an alleged Goods and Services Tax scam in Gujarat, has now been sent to Rajkot Police's custody for four days.

Jaisalmer (Rajasthan): Union Finance Minister Nirmala Sitharaman on Saturday announced that the Goods and Services Tax Council has approved the reduction of GST on rice kernels to 5 per cent and exempted life-saving gene therapy from tax.