Do you love to eat out often? Remember that the latest rates of Goods and Services Tax (GST) took effect on April 1. As per the new rates, customers may have to pay either 5 per cent or 18 per cent based on where the restaurant is located and whether it is part of âspecifiedâ…
The National Statistical Office (NSO) recently released the first revised estimates of Indiaâs gross domestic product (GDP) for 2023-24, revising the GDP growth rate at constant prices from the earlier provisional estimate of 8.2% to 9.2%. This revision, which brought annual growth to one of the highest levels in the post-covid period, sparked considerable debate…
Attempts to justify this by arguing that it helps control an epidemic of sugar-fuelled obesity weaken on considering the inconsistent approach taken to taxing sugar confectionery, which falls under HSN Code 1704. Taxation is not uniform: some items, like elaichi dana, chikki, gajak etc, attract 5% GST; others like âboiled sweetsâ attract 12%; while the…
The trouble with taxation is not its inevitability, nor its comparison for that reason with mortality, but its susceptibility to being viewed through lenses tinted by the viewerâs own tax liability. Evidence of this rises and falls in waves, peaking around budget time. For a steady view of the broad idea, one must turn to…
Union Finance Minister Nirmala Sitharaman addresses at âThe Finance Ministerâs Insight: Path Forwardâ event organised by the Revenue Bar Association, in Chennai, Tamil Nadu. | Photo Credit: PTI Union Finance Minister Nirmala Sitharaman on Thursday (September 5, 2024) denied any “friction” in the ties between the Centre and States over Goods and Services Tax (GST)…
