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 Vellore.
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 Vellore.
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
I Know How to Play Real Characters
Jennifer Lopez speaks to Katie Ellis on how Unstoppable made her realise that she can overcome anything in life
Of Our Non-violent Ancestors
Pattanaik provides a comprehensive insight into the mysterious world of the Harappan civilisation
The Corrosive Power of Pride
Pride fosters a sense of superiority that harms relationships, distorts the mind, and impedes personal and spiritual growth
Market on the Sands
The Rathgama Wella Fish Market
Market on the Sands
The Rathgama Wella Fish Market
Stop Inane and Diversionary Debates, and Focus on What Really Matters
Acute Angle
Stepping Across the Worry Lines
The Raghu Dixit Project launches a new album Shakkar as a vernacular statement about India and diversity
Every Woman's Brushstrokes
A beautiful blue and pink-hued sky surrounded by lush greenery. Within this is a tree with specks of orange and yellow, besides which is a bed where a woman is sleeping her flowing tresses falling into the foliage.
Untangled Threads He Weaves
An embroiderer who grew up poor is a celebrity in demand with collectors and artists
Untangled Threads He Weaves
An embroiderer who grew up poor is a celebrity in demand with collectors and artists
