29 Nov 2024 05:51 PM
New

GST on Healthcare, Life Insurance and Critical Drugs

Source: https://taxguru.in/goods-and-service-tax/gst-healthcare-life-insurance.html

The Ministry of Finance addressed GST-related queries on healthcare, life insurance, and lifesaving drugs. While data on revenue from cancer and lifesaving drugs is not maintained, these medicines are taxed at concessional GST rates of 5%. Revenue from GST on life and health insurance services has increased over the past five years, with ₹8,263 crore collected from health insurance alone in FY 2023-24.

29 Nov 2024 05:48 PM
New

GST On Educational Materials and Services

Source: 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.

29 Nov 2024 05:55 PM
New

Course on Mastering GST Sections Effortlessly with Memory Techniques!

Source: https://taxguru.in/goods-and-service-tax/course-mastering-gst-sections-effortlessly-memory-techniques.html

Whether 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.

22 Nov 2024 05:32 PM

Free Webinar: Invoice Management System from Oct 1, 2024 – Register Now

Source: https://taxguru.in/goods-and-service-tax/free-webinar-invoice-management-system-oct-1-2024-register-now.html

Summary: The Invoice Management System (IMS), launched on October 1, 2024, aims to simplify the management of invoices and input tax credits under GST. This webinar, scheduled for November 24, 2024, at 11 AM on YouTube, is designed for business owners, tax professionals, and finance teams seeking to streamline their GST processes. The session will cover practical insights into real-time invoice sharing,

21 Nov 2024 06:27 PM

Frooti maker faces 12% revenue drop amidst tax hike challenges

Source: https://www.livemint.com/companies/frooti-maker-faces-12-revenue-drop-amidst-tax-hike-challenges-parle-agro-itc-coca-cola-reliance-11732105279774.html

The decrease in revenues and profits for Parle Agro Pvt. Ltd in FY2023-24 was due to significant tax policy changes as Appy Fizz faced a drastic fourfold GST increase, to 40% from 12%. This tax hike considerably impacted Parle Agro's pricing strategy, it said.

20 Nov 2024 05:34 PM

Edible oil or cosmetic? Small coconut oil packs pose a big tax question

Source: https://www.livemint.com/industry/coconut-oil-hair-oil-marico-parachute-bajaj-consumer-care-dabur-supreme-court-edible-oil-tax-classification-gst-slabs-11731928266809.html

The seemingly trivial question is close to being answered, after winding through a tax tribunal, a government department, and India's top court for over 15 years. At stake: Heavy taxes and higher prices if the product is labelled a kitchen ingredient, and potential impact on other dual-use products.

19 Nov 2024 06:51 PM

GST Council’s December Meet: Waiver of levy on health, life insurance premiums on agenda

Source: https://www.livemint.com/economy/gst-councils-december-meet-waiver-of-levy-on-health-life-insurance-premiums-on-agenda-11731982161732.html

The GST Council is gearing up to make significant strides in tax policy. Its upcoming meeting on December 21 in Jaisalmer, Rajasthan, will focus on tax relief to consumers, particularly senior citizens, by potentially exempting GST on health and life insurance premiums.

19 Nov 2024 07:01 PM

Indraprastha Gas and Mahanagar Gas face perils of policy controls

Source: https://www.livemint.com/market/mark-to-market/igl-mgl-indraprastha-gas-mahanagar-gas-shares-apm-gas-pricing-cng-petrol-diesel-gst-excise-duty-cut-11731996421859.html

City gas distributors Indraprastha Gas Ltd (IGL) and Mahanagar Gas Ltd (MGL) have suffered two consecutive blows in a month. The government has reduced the supply of cheaper natural gas by 20% for IGL and 18% for MGL,effective 16November. This follows a previous reduction of 21% for IGL and 20% for MGL, effective 16 October.

19 Nov 2024 07:05 PM

FICCI electric vehicle chief calls for tax cuts on batteries, charging services to boost affordability

Source: https://www.livemint.com/auto-news/ficci-electric-vehicle-chief-calls-for-tax-cuts-on-batteries-charging-services-to-boost-affordability-11732006435392.html

Sulajja Firodia Motwani, chairperson of the Electic Vehicle Committee at FICCI, called for GST on charging services and batteries to be reduced to 5 per cent to make EVs more affordable for consumers.

19 Nov 2024 06:56 PM

‘Time to learn Kannada and permanently settle in Bengaluru,’ says X user as Delhi’s AQI touches ‘severe plus’ category

Source: https://www.livemint.com/news/india/time-to-learn-kannada-and-permanently-settle-in-bengaluru-says-x-user-as-delhis-aqi-touches-severe-plus-category-11731994542380.html

Delhi's air quality remains in the 'severe plus' category with an AQI of 488, prompting the Supreme Court to mandate strict enforcement of anti-pollution measures. Concerns rise as smog impacts visibility and health in several northern cities, including Mumbai.