Goods & Services Tax (GST) Updates

[Rickysin]

there is no survival point for industries. Everyone is squeezing middle class.

 

[Smh]

I was not expecting markets to become negative today

Wtf

Market has lost trust or something worse regarding US drama is coming or both.

And idk full details but nil gst may not allow input credits so tax will be 0 but no change in price. input credit will get baked into price now.

 

[Navjot Singh]

GST Reform Will Boost Consumption, But There Are Some Hidden Costs

The latest round of GST reforms seeks to propitiate consumers by lowering rates they can see, while raising rates they do not directly observe. Visible taxes down, invisible taxes up.

www.thecore.in

The GST Council has raised the cost of energy in the economy, increasing the GST on coal from 5% to 18%, and increasing the GST on transportation of crude and refined products by pipeline from 12% to 18%. The GST on job contracts associated with the exploration and development of oil fields and the production of hydrocarbons, has also gone up. Since GST does not apply to either electricity or petrofuels, the increase in these tax rates will add to the cost of energy in their totality.

Electricity rates revision will happen soon. So much fun.

 

[Sushubh]

 

[Sushubh]

GST Department Can't Access Computer Device Of Any Lawyer Without His Presence Or Consent: Delhi High Court

The Delhi High Court has cautioned the GST Department against accessing the computer device of any advocate, in his absence or without his consent.A division bench of Justices Prathiba M. Singh and...

www.livelaw.in

 

[Sushubh]

Source

Had no idea when Amul Butter reached 305. But it's falling down to 285 for now. How long before it jumps back to 305?

 

[Navjot Singh]

Indian consumers may save ₹58–₹88 a month under GST 2.0: FICCI - CNBC TV18

Much of the relief comes from the expansion of the lowest 5% GST slab, which now covers 149 consumer goods categories, up from just 54 earlier.

www.cnbctv18.com

 

[SVK]

 

[Sushubh]

Week After GST 2.0: Less Than 30% Of Medicine, Packaged Food Buyers See Benefits, Says Survey