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New Delhi: Electronic toll collection in the country soared to a record Rs 6,114.92 crore in October this year as economic activity surged during the festive month, according to the latest figures compiled by the government. The collection is the highest ever in a month since the compiling of electronic toll data started in 2021…
Zomato Platform Fee Hike: Zomato, a food delivery giant, has increased the platform fee for its users during the festive season. The company has hiked the fee from Rs 7 per order to Rs 10 to keep it running amid festival season sales. The company has taken this move to maintain services during the festive…
New Delhi: Term life insurance policies, and senior citizens’ health insurance premium are likely to be exempted from GST as most members of a state ministerial panel favoured cutting taxes to benefit the common man, an official said on Saturday. The GoM to decide on GST on health and life insurance premiums in its meeting…
GST On Health Insurance Premium: The Group of Ministers (GoM) is expected to recommend exempting goods and services tax (GST) on term life insurance premiums and health insurance premiums paid by senior citizens. However, the Official’s premiums paid for health insurance coverage of above Rs 5 lakh will continue to attract 18 per cent GST….
The GoM on GST rate rationalisation has decided to exempt GST on premiums paid for health insurance with coverage of Rs 5 lakh for individuals. The GoM proposes to reduce rates on several items and hiking on many, and the overall rejig is expected to yield a revenue surplus of Rs 22,000 crore. The GoM…
New Delhi: As the government focuses on GST 2.0 which further eases tax laws, enhance tax simplification and adoption of technology, the ministerial panel tasked to rationalise rates is deliberating on lowering GST on essential items like health insurance and tractors up to 5 per cent. As tractor segment volumes saw marginal growth (year-on-year) in…
New Delhi: Goods and services tax (GST) revenue growth rate declined to 6.5 per cent in September at Rs 1.73 lakh crore as the rise in collections from domestic transactions as well as imports slowed. However, with the festival season ahead, collections are expected to be better in the coming months, tax experts said. According…
New Delhi2 minutes ago copy link The government has raised Rs 1.73 lakh crore from Goods and Services Tax, i.e. GST, in September 2024. There has been an increase of 6.5% on annual basis. The government had collected Rs 1.62 lakh crore GST in September last year. Last month in August, the government had collected…
New Delhi: Goods and Services Tax (GST) is one of the major economic reforms in the last decade in India which replaced the Value Added Tax (VAT) system. It paved the way for economic growth, lower logistics costs, and ease of doing for the business. Now the Union government is focusing on GST 2.0 which…
New Delhi: The GST Council on Sunday constituted a 13-member Group of Ministers (GoM) to suggest GST rate on premiums of various health and life insurance products and submit its report by October 30. Bihar Deputy Chief Minister Samrat Choudhary is the convenor of the GoM. The members of the panel include members from Uttar…