THE GST Council in its 55th meeting on Saturday is likely to announce changes in tax rates on several goods and services.
As per sources, the fitment panel of the Council has decided to levy 18% GST on all kinds of used cars. Currently, used petrol cars up to 1200 cc and diesel cars up to 1500 cc are taxed at 12%, those above these specifications are taxed at 18%.
The Council is likely to agree with the fitment panel's recommendation and raise GST rate to 18% uniformly to all used cars including the EVs.
The sources said the GoM on insurance would submit its report to the Council on Saturday, but it is not clear if any decision on the same would be taken during the meeting in Jaisalmer.
The GoM has recommended complete waiver of GST on insurance premium for health insurance with ₹5 lakh cover.
The Council may give its nod to exempt gene therapy from GST.
This story is from the December 21, 2024 edition of The New Indian Express Tirupati.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 21, 2024 edition of The New Indian Express Tirupati.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
A Guilty, Albeit Predictable, Pleasure
CULPA TUYA (YOUR FAULT) Director: Domingo González Genre: Romance Platform: Prime Video Language: English Rating: ★★☆☆☆
Getting to Do Spy Stuff is Fun
Keira Knightley speaks to Sally James on playing a secret agent in her latest spy thriller, Black Doves
A Story of Uneasy Love
The fast-paced love story between a Muslim girl and a Hindu boy explores the tension between tradition and modernity
Making 2025 Your Best Year
Eleven infallible strategies to transform New Year resolutions into habits
Sax and the City
The best hop, skip and jump spots for aficionados of jazz in its birthplace where the music never stops and feet never stop tapping
Making Her Blush Permanently
A latest beauty trend everyone is buzzing about has a tattoo element
Memorial for Manmohan is a Requiem for a Lost Dream
Dead people never really die. They are kept alive through man's endless need for ritual, both in the private and public realm.
It Maybe the Best of Times, but It is Surely the Worst of Times
Manmohan Singh, former PM and finance minister who launched India's 1991 economic reforms, died last week.
The Winning Edge
Entrepreneur Stuti Jalan is taking the story of Indian women to the global stage
An Eye on the Oppressed
Photographer Jaisingh Nageswaran's childhood was defined by just one incident.
