gst regime

Purchasing a second home involves significant tax considerations beyond the initial purchase price. Stamp duty, registration fees, and GST are upfront costs. Income tax implications vary based on whether the property is self-occupied, vacant, or rented out, with different deduction rules under old and new tax regimes. Understanding these nuances is crucial for financial planning.

Maharashtra has slashed Value Added Tax (VAT) on Aviation Turbine Fuel (ATF) to 7% from 18% for six months, effective May 15. This move aims to alleviate high fuel costs for airlines, stabilize airfares amid the West Asia crisis and summer travel demand, and reduce operational expenses.

The Federation of Jharkhand Chamber of Commerce and Industries has urged the state government to reconsider the newly approved city tourist tax on hotel stays. The proposed levy, ranging from 2% to 10% for domestic and foreign tourists respectively, could significantly impact Jharkhand's tourism and hospitality sectors by increasing costs for travelers and potentially discouraging visitors.

Improved Infrastructure, GST Changes Shift Trade From Mumbai

Actor C Joseph Vijay has been sworn in as the Chief Minister of Tamil Nadu, defeating the DMK in a surprising electoral victory. His unconventional campaign, leveraging social media and targeting younger voters, marked a departure from traditional politics.

In a significant move for Bihar's youth, Chief Minister Samrat Choudhary has unveiled a cutting-edge technology centre in Bihta, along with four new extension centres. This initiative, in collaboration with the Union MSME ministry, is set to empower aspiring entrepreneurs through specialized training in areas such as quality control, packaging, and marketing.

From May 1, India’s online gaming sector enters a new regime: money-based games are prohibited, while e-sports and social gaming face tighter oversight. A central regulator, payment curbs and compliance rules aim to end years of legal ambiguity

DMK leader expresses confidence in victory despite a multi-cornered contest, highlighting welfare initiatives and exemplary governance. He dismisses rumors of alliance discord and defends the party's approach to smaller partners. The chief minister frames the election as 'Team Tamil Nadu vs Team Delhi,' asserting the state's resistance to centralized control.

India's push for 'Jan Vishwas' faces a stark contradiction as authorities increasingly use stringent NDPS and BNS laws against licensed pharmaceutical stockists. Despite clear regulations under the Drugs and Cosmetics Act, businesses dealing in common cough syrups are being prosecuted, blurring lines between regulation and criminality. This trend risks eroding trust and undermining the rule of law.

The proposed gst regime is likely to provide for monthly filing of returns for business to business dealings through a set of eight forms for different categories of transactions.

The illegal sports betting market in India is estimated to receive an inflow of Rs 8,20,000 crore ($100 billion) per year, resulting in a loss of about Rs 2 lakh crore to tax authorities. Factors such as digital infrastructure growth, smartphone usage, and the expansion of athletic events have contributed to this growth. The report suggests strict implementation of the new gst regime and establishing a task force to monitor illegal offshore betting activities to restrict such activities.

Relish your favourite savouries and sweets today. Come tomorrow, it just might taste a tad bitter. Your favourite snack — singara, kachori, radhaballabi and the like — sold 24x7 at the city’s ubiquitous mishtir dokaan and consumed at all times of the day will be taxed under the gst regime.

Finance minister Nirmala Sitharaman on Tuesday put a strong defence of her handling of inflation as she compared current prices to rates existing six months before the UPA exited power, and said the gst regime has not increased the tax burden on families.

New Delhi, Sep 3 () About 1,800 businesses that were registered under the earlier VAT and service tax regime have applied for migrating to the gst regime. The GST Council, in its meeting in July, had allowed businesses with provisional GST ID to migrate to the new gst regime.

The GST Council in its 28th meeting yesterday approved rate reductions for 88 consumer-centric items such as cosmetics, refrigerators, washing machines, and small screen televisions, and cleared the widely demanded exemption on sanitary napkins.

The new Goods and Services Tax regime is kicking in tonight with the promise to end harassment to businesses and usher in transparency.

BJP leader Sushil Kumar Modi on Wednesday said it is not possible to bring petrol and diesel under the gst regime for the next eight to 10 years as it would cause an annual revenue loss of Rs 2 lakh crore to all states.

With the gst regime coming into force, the Assam government has decided to dismantle all the sales tax check-gates across the state in 30 to 45 days

Traders in the state have set a new model for the upcoming gst regime. Over 70% of traders have completed registration proceedings through digital signatures.

The Fifteenth Finance Commission (FFC) is expected to deliberate on issues related to predictability of the gst regime when it submits its final report next year, the panel’s chairman N K Singh said on Monday, while suggesting that there may be a need to offer incentives to states that see higher collections.

Narendra Modi-led Gujarat government has opposed the UPA government's attempt to pass the 115th Constitution Amendment Bill, 2011 to forcibly enact goods and service tax (GST) regime in the country.

As much as Rs 65,000 crore out of the nearly Rs 95,000 crore tax collections in July — the first month of GST — have been claimed as transitional credit by taxpayers, prompting the CBEC to order a scrutiny of all cases above Rs 1 crore.

India may have had its tryst with radical tax ref-orms on Friday midnight, migrating to a new gst regime, but business in Bengal, as in most other states, may take two weeks or more to fully migrate to the new platform.