The Group of Ministers on rate rationalisation has finalised its report, which will be presented to the GST Council, PTI reported. The GoM will likely propose a tax hike on cigarettes, tobacco, and aerated beverages, as per the report.
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Read MoreThe uptick in GST collections driven by festive demand had been anticipated by policymakers, who remain optimistic about sustained growth in rural consumption and an improvement in urban demand.
Read MoreSummary
It has not yet been decided whether it will be part of the agenda of the GST Council’s next meeting scheduled in December
The petroleum and natural gas ministry has recommended the inclusion of natural gas in the goods and services tax (GST) framework to the finance ministry, an official aware of the development said on Thursday.
The deficit in the system came after two months on account of goods and services tax payments and forex outflows.
Read MoreSource: https://taxguru.in/goods-and-service-tax/gst-educational-materials-services.html
The Ministry of Finance provided detailed insights on GST applicability to education-related materials and services. Services by educational institutions, including pre-school, higher secondary, and vocational courses, are exempt from GST. Exemptions also apply to printed materials like books, Braille books, newspapers, and children’s activity books. Furthermore, services such as student transport, catering, and cleaning for schools up to higher secondary are GST-exempt, alongside affiliation services provided by educational boards to government schools, effective October 2024. However, commercial training and coaching services are taxed at 18% GST.
Read MoreWhether you’re a student preparing for exams or a professional navigating GST compliance, this course will transform the way you understand and retain GST provisions. By focusing on logic, practical application, and memory retention, you’ll not only gain confidence in mastering GST but also learn tools you can use for a lifetime.
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