Singapore’s Solution for its Economic Recovery: A Raise in Taxes

The government of Singapore government has decided to raise taxes, which include property taxes along with income taxes for some salary tiers, as it is the aim of the country to generate enough revenue so that it meet the ever-increasing demands like health care and other necessary services.

INDIAN GOVERNMENT MAY SLASH GST RATE FOR AUTOMOBILE SECTOR

HIGHLIGHTS

• To boost the growth of automobile sector, Indian government is considering to slash GST for automobile sector.
• Union minister of Heavy Industries and Public Enterprises Prakash Javadekar is in talks with Finance Minister Nirmala Seetharaman...

NO HIKE IN GST RATES SAYS FM NIRMALA SITHARAMAN

Highlights

• Union Finance Minister Sitharaman said this is not the appropriate time to hike taxes as the country is still battling COVID-19 and its economic consequences 

• Seven non-NDA states like Punjab, Rajasthan, Maharashtra, Jharkhand, Chhatisgarh, Puduch...

SMALL BUSINESSES TO BENEFIT FROM GST COUNCIL’S DECISION TO SLASH INTEREST RATES

Highlights

• Finance Minister Nirmala Sitharaman said those businesses that haven’t  filed returns for the month of February, March and April won’t be liable for any interest till July 6

• After July 6, all the small businesses will have to pay inter...

DELHI: RISE IN PETROL, DIESEL PRICES AFTER INCREASE IN VAT

Highlights

• In Delhi, the petrol and diesel will be sold at ?71.26 and ?69.59 per litre respectively

• Along with the Delhi state government, various states like Haryana and Tamil Nadu decided to increase VAT

• Despite being in the list of essential s...

Demonetization, GST kept on affecting India's utilization story in 2019

The year 2019 has been one of the slowest for the utilization division in over 10 years. Purchaser items organizations needed to adapt to the low single-digit volume and income development quarter-on-quarter and a few industry specialists had communicated despair by saying that Indians were simpl...

Govt. of India to cut GST on CNG vehicles to 5%

In its efforts to encourage CNG usage in vehicles, the BJP-led Indian government might slash the GST rates for vehicles on CNG (Compressed Natural gas). This was proposed by the Oil ministry. The current rate of GST on CNG vehicles is twenty-Eight 28%.

If the proposal is approved, it wi...

GST net will now include more healthcare services

Some health care services may be brought under the GST network by the government, affecting a deceptive sector, since the ongoing economic downturn will result in a leg to income mobilization.

Official sources suggested that the Finance Minister, who had talks with state governments on ...

From streamlining GST to bringing down close to home personal expense: How govt plans to help the economy

The administration is dealing with various measures to resuscitate the debilitated economy after development in the subsequent quarter plunged to 4.5 percent, the most reduced in more than six years. Money Minister Nirmala Sitharaman on Saturday said the administration is taking a shot at steps l...

Regulatory board pushes for GST on natural gas

The Petroleum and Natural Gas Regulatory Board (PNGRB) which is the market regulators in the field have pushed for adding Natural Gas (NG) in the Goods and Service Tax (GST) regime in order to ensure a fairer domestic market hub which the country is trying to build around the piped gas section of...

GST to be simplified to aid the business growth

As the nation of India is in a financial crisis we expect the nation to make huge changes to its policies and change the direction of its finances as soon as possible as the world is bracing for a financial crisis as the global slowdown shows no sign of getting back to normal.

The finan...

Work with the flaws says, finance minister

Finances in India are taking some huge hits and now the government is trying to make amends to the broken finance sector. Although no significant efforts are seen by the nation to aid its finances.

Finance Minister Nirmala Sitharaman on Friday said that the Goods and Services Tax, even ...

ATO discourages Uber promoting the local taxies

Managers crosswise over Australia who have been giving their staff a chance to utilize ride-sharing administrations, for example, Uber, instead of an authorized taxi, could be at risk for enormous duty charges, the Australian Taxation Office has affirmed. The ATOs choice comes after right around ...