-The Hindu Council leaves the 5% tax levied on vaccines unchanged. The Goods and Services Tax (GST) Council on Saturday decided to waive the tax levied on two critical drugs against COVID-19 and mucormycosis — tocilizumab and amphotericin B — and reset the tax rate to 5% for 14 major pandemic relief items, till September 30. Non-BJP-ruled States registered a strong dissent, terming the continued imposition of GST on critical COVID supplies and...
More »SEARCH RESULT
Total Matching Records found : 202
Delhi High Court quashes GST on oxygen concentrators -Vikas Dhoot
-The Hindu “This is a George Floyd moment for India’s citizens, with the refrain – I can’t breathe," the court says. The Delhi High Court on Friday held the Government’s imposition of Goods and Services Tax (GST) on oxygen concentrators imported for personal use as ‘unconstitutional’ and said oxygen concentrators constitute a life-saving device during the COVID-19 pandemic. “This is a George Floyd moment for the citizens of this country. The refrain is...
More »Centre to retain GST on oxygen concentrators -Vikas Dhoot
-The Hindu Delhi High Court pushes back, saying that the government should review its resistance at such a time The Central government should review its resistance to exempting the Goods and Services Tax (GST) levied on oxygen concentrators imported for personal use, the Delhi High Court observed on Thursday after the Finance Ministry conveyed its inability to accept the Court’s order issued on Wednesday. Late on Thursday, the Delhi High Court appointed senior...
More »GST mop-up hits a record in March -Vikas Dhoot
-The Hindu The indirect tax collections were 27% higher than that in March 2020. The gross GST collections in March hit a record of ₹1,23,902 crore, the Union Finance Ministry said on Thursday. This is the sixth month in a row that GST revenues have remained above ₹1 lakh crore. “The GST collections for March have created a record; it has never been so high. We have crossed the record collections by a...
More »Tax exemptions and incentives for the corporate sector continue despite reduction in corporate tax rates
Quite often it is argued by mainstream economists that a sizeable chunk of the Union Budget every year is wasted because the Government spends that on food and fertiliser subsidies. The burgeoning size of these two subsidies relative to the entire budget as well as the gross domestic product (GDP) is often used to build the argument that economic as well as environmental sustainability of the country is at stake...
More »
