According to reports, the council has recommended 5 percent GST on ready-to-eat popcorn that is not pre-packaged with salt and spices, 12 percent on pre-packaged and labelled, and caramel. 18% GST on popcorn has been recommended. All used cars including EVs to attract the current 12% to 18% GST; Individual sales and purchases will continue at 12%.
The council is expected to take up key proposals for rate adjustments covering luxury goods, aviation turbine fuel (ATF), real estate, and more.
The GST Council, chaired by Union Finance Minister Nirmala Sitharaman and state finance ministers, is the apex decision-making body on indirect taxes.
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GST Council Meeting Live Updates: 55th GST Council meeting underway, FM to address media soon
The 55th meeting of the GST Council is in its final phase. FM Nirmala Seetha Raman is going to address the media soon.
GST Council Meeting Live Updates: 55th GST Council Meeting enters final phase, two items remain to be discussed
The 55th meeting of the GST Council is in its final phase, with only two items remaining to be discussed. FM Nirmala Sitharaman will announce the decisions after the meeting ends.
GST Council Meeting Live Updates: The 55th GST Council meeting is underway.
The 55th meeting of the GST Council is still going on in Jaisalmer, Rajasthan. FM Nirmala Sitharaman will announce the decisions after the meeting ends.
GST Council Meeting Live Updates: ‘GST hike in used EVs may impact growing market’
On the increase in GST on used cars, Pratak Mandoya, head of solar business at Muffin Green Finance, said, “The GST Council’s proposal to increase the tax rate on old and used cars from 12% to 18% is in advance. The pre-owned EV market is an important step for many buyers who want to switch to electric vehicles, but the GST on older EVs can be expensive By increasing buyers This may increase the cost, which may slow down the pace of adoption and affect the overall growth of the EV market.At a time when India is encouraging clean mobility, policies to all EVs The focus should be on making them affordable, whether new or used.”
Instead of raising taxes, the government could consider other ways to raise revenue to support EV adoption, such as offering incentives to buyers or creating a trade-in program. He added that a balance between supporting industry and meeting government targets is essential.
GST Council Meeting Live Updates: GST Council resumed meeting after lunch.
After lunch, the GST Council met again. After the meeting ends, FM Nirmala Sitharaman will address the media at 5 pm.
GST Council Meeting Live Updates: FM Nirmala Sitharaman will address the media at 5 pm.
Finance Minister Nirmala Sitharaman will address the media today at 5 pm.
GST Council Meeting Live Updates: Detailed report on insurance to follow next GST meeting, says Samrat Chaudhary
As the GST Council postponed a decision on tax on insurance, Bihar Deputy CM Samrat Chaudhary said, “The report of the council was to be given, and there were many people’s opinions on it. Another meeting was held.” Then, whether it is group insurance, individual insurance, senior citizen insurance, or disability insurance, a detailed report will be prepared for the next meeting.
(IANS)
GST Council meeting live updates: GoM on health, life insurance rate cut to meet in January
The Group of Ministers (GoM) on health and life insurance rate cuts is likely to meet again in January. The GST Council on Saturday postponed the decision to reduce tax on insurance policies for further scrutiny. The GoM has so far informed the Council of the lack of consensus.
GST Council Meeting Live Updates: Taxation issue related to taxability of food delivery platforms adjourned
The GST issue related to food delivery platforms has been deferred for further examination. Earlier, the GST Council was expected to reduce the GST rate for food delivery platforms like Swiggy and Zomato from the current 18% (with ITC) to 5% (with input tax credit). without) will do.
GST Council meeting live updates: GoM report on fixing rates of 148 items deferred till next meeting
Bihar Deputy Chief Minister Samrat Chaudhary said that the rate rationalization report could not be discussed in Saturday’s meeting. This matter can be taken up in the next meeting.
The GoM report deals with rate hikes on 148 items.
GST Council Meeting Live Updates: FM Nirmala Sitharaman will announce the decisions of the GST Council after the meeting ends.
The GST Council meeting is underway in Rajasthan’s Jaisalmer and is expected to conclude in the next 30-45 minutes. FM Nirmala Seetha Raman will formally announce these decisions after the meeting.
GST Council meeting live updates: Used cars attract 18% GST vs 12% now
All used cars including EVs to attract the current 12% to 18% GST; Individual sales and purchases will continue at 12 percent, CNBC-TV18 reports citing sources.
GST Council Meeting Live Updates: Council recommends 5% GST on ready-to-eat popcorn if not pre-packaged, 12% on pre-packaged
The GST Council recommends 5% GST on ready-to-eat popcorn not prepackaged with salt and spices, 12% on prepackaged and labeled, 18% on caramel popcorn. : Sources told CNBC-TV18.
GST Council Meeting Live Updates: GST Council postpones decision to reduce tax on insurance policies
CNBC-TV18, quoting sources, reported that the GST Council on Saturday decided to postpone the decision to cut taxes on health and life insurance policies for further consideration. The GOM has informed the Council of the lack of consensus.