Tax reform

The Central Board of Indirect Taxes and Customs (CBIC) has issued a clarification on the revised Goods and Services Tax (GST) applicable to popcorn, refuting reports that sugar-coated or caramel popcorns would be taxed at 18% under revised rates

One may ask if there is no income tax up to ₹12 lakh, why there are tax slabs for 4-8 lakh and 8-12 lakh, the reason is I-T is calculated in slabs

Considering the circumstances, the tax provisions in the Union Budget 2021 acquires special significance.

In a major development, India witnessed a record high collection of Goods and Services Tax (GST) for the month of December 2020.

According to the press release, Arunachal Pradesh showed the highest rate of growth of gross GST in December at 124%, while GST collection in Lakshadweep fell by 78% and in Jharkhand by 3%.

The Finance Ministry has tweaked an earlier 'Service tax' regime to bring in more transparent and efficient GST into housing societies and RWAs. 

The fact that people stuck by Modi is a historic masterclass in leadership.

In several countries, governments lost elections because of the GST. India had one of the smoothest transformation.

Demonetization was not a whim of one person, it was perfectly planned move. When on November 8, 2016, at 20:00 hrs, PM Modi announced demonetisation, people with black money knew they were in trouble.

12 BJP ruled states have lowered the VAT of fuel prices after the announcement by the centre.