In a significant development, the Group of Ministers (GoM) on Saturday agreed upon some Goods and Services Tax (GST) rate revisions that are likely to bring in an additional Rs 22,000 crore revenue.
The GoM, headed by Bihar Deputy Chief Minister Samrat Chaudhary, suggested raising GST rates on several luxury items, including high-end wristwatches and shoes.
The GoM proposed to increase the GST rate on wristwatches priced above Rs 25,000 from 18 per cent to 28 per cent. Also, shoes...
GoM proposes to raise GST on luxury shoes, watches, aims revenue boost by Rs 22,000 cr
In a remarkable achievement of the country’s fintech ecosystem, the Account Aggregator (AA) framework is now being used to facilitate loan disbursement worth about Rs 4,000 crore a month, a report showed on Monday.
The lending firms have used the AA framework to facilitate loans worth Rs 42,300 crore since September 2021 till March 2024, with cumulative average loan ticket size at Rs 1,00,237 for the same period, according to Sahamati, an industry alliance for the AA ecosystem ...
Account Aggregators facilitating loan disbursement worth Rs 4,000 cr a month
Below the 54th GST Council meeting - Expectation Input Insurance Sector by Sandeep Pareek, Partner, Indirect Tax, BDO India
Perspective - Will the GST council remove GST on term insurance in its upcoming meeting?
Multiple stakeholders, including sitting ministers, have requested for exempting GST on term insurance as well as health insurance. It is likely that the GST Council may favourably consider this demand of the industry, especially if the revenue loss, due to grant o...
54th GST Council meeting - Expectation Input Insurance Sector by Sandeep Pareek, Partner, Indirect Tax, BDO India
