Time to take a pop at GST absurdities
The GST Council (Goods and Service Tax) recently announced a bewildering array of extra tax rates for popcorn, sparking an understandable backlash among economists, businesses, and consumers alike.
The GST Council (Goods and Service Tax) recently announced a bewildering array of extra tax rates for popcorn, sparking an understandable backlash among economists, businesses, and consumers alike.
President Donald Trump has announced to establish the External Revenue Service to "tariff and tax foreign countries" instead of taxing US citizens.
India's fiscal deficit is expected to shrink further, on the back of growing tax revenues, according to a World Bank report.
Justin Trudeau’s resignation as Canada’s Prime Minister marks the close of an era that began with immense hope but ended amid growing challenges and dissatisfaction.
During its 55th meeting, the GST Council clarified that tax treatment for popcorn would depend on its flavour and the way it was sold; while popcorn sold loose will be taxed at 5 per cent, GST on popcorn will incre a se to 12 per cent if it was sold in packets under a brand name, while caramelised popcorn would be taxed at 18 per cent.
Pakistan Stock Exchange's (PSX) benchmark KSE-100 index jumped more than 1,000 points as the country expects to sign a deal with the International Money Fund (IMF) to unlock much-needed funds, local media reported.
The GST Council in its meeting next month, is likely to discuss measures to ensure strict provisions for preventing fake generation of Input Tax Credit (ITC), aiming to prevent tax evasion, a senior official said on Friday.
Many methods have been tried for elimination of black money; we had several rounds of demonetisation, several voluntary disclosure schemes, some schemes to regularise undisclosed foreign assets, and so on. The only commonality between all such measures was their failure to prevent generation of black money. Strategically declaring their black money, tax evaders took full advantage of the frequently announced Government schemes. However, not many of the tax evaders discontinued their tax evading ways, so, after a few years, things came back to square one
The HC Division Bench dismissed the application moved by the Commissioner of Sales Tax, seeking 12.5 per cent taxation on the product in ‘all other goods’ category.
Don’t move away from Bengal, don’t beg for jobs outside Bengal, the CM urged
