SIN TAX

Varun Beverages share price: Shares of Varun Beverages fell by 5.2% as the Group of Ministers proposed raising the GST rate on aerated drinks to 35%. This hike in taxes affects Varun Beverages significantly since most of its revenue comes from India...

A Group of Ministers (GoM) may seek a three-month extension to conclude discussions on the future of the GST compensation cess beyond March 31, 2026. The GoM, which includes members from ten states, has various unresolved issues including the handli...

Around 70-75 percent of GST revenues in 2023-24 came from the 18 percent slab. Only 5-6 percent was from the 12 percent slab. The highest 28 percent slab contributed 13-15 percent. The 5 percent slab accounted for 6-8 percent. The GST Council is con...

"The decision to place fruit-based, non-caffeinated sparkling drinks in the sin tax category, taking GST on Appy Fizz up by to four times from 12% to 40%, had a massive impact on the overall business, which is dependent on specific price points," Na...

Union Finance Minister Nirmala Sitharaman will meet her state counterparts on December 21 in Jaisalmer, Rajasthan, for the 55th GST Council meeting. Key decisions are expected, including whether to exempt or lower the GST rate on health and life ins...

The GST Council is likely to consider lowering the tax rate on certain insurance plans, including potentially eliminating the 18% tax on term life insurance. They may also eliminate the tax on health insurance for senior citizens and those with cove...

The GoM on GST rate rationalisation has proposed lowering tax rates to 5% on 20-litre packaged drinking water bottles, bicycles, and exercise notebooks, while increasing taxes on high-end wrist watches and shoes. These changes could lead to a revenu...

The GST Council's ministerial panels will meet on October 19 to discuss reducing the 18 per cent GST on health and life insurance premiums. They will also consider GST rate rationalisation, including merging 12 and 18 per cent slabs, and reallocatin...

A group of ministers decided not to extend the GST compensation cess to new items until determining its future post-March 2026. The panel, led by Union minister Pankaj Chaudhary, will reconvene in November to deliberate on whether to continue the ce...

The GoM on GST discussed merging compensation cess with GST. States suggested no new items should be added during this transition. Compensation cess ends in March 2026. GoM will submit its report by Dec 31. The cess, which finances states' revenue l...

Cigarettes, tobacco products, carbonated drinks, and high-end automobiles in the 28% GST slab might see a rise in taxation as a cess ends in March 2026. Discussions are focused on maintaining high tax rates for demerit goods while possibly lowering ...

India's beverage industry, facing a 40% GST on carbonated drinks, advocates for tax rationalization to spur innovation, job creation, and investment. The industry is hindered by steep taxes, unlike sweets and chocolates, which are taxed at lower rat...

The GoM on GST rate rationalisation has discussed potential tax rate changes on over 100 items, including reducing taxes on some goods from 12 to 5 per cent. The group aims to provide relief to the common man and will further deliberate on these cha...

Democrats are aiming to break the cycle of temporary tax cuts initiated by Republicans, which they believe has led to economic issues like widening inequality and ballooning deficits. With Trump's 2017 tax cuts set to expire after 2025, Democrats se...

Finance Minister Nirmala Sitharaman remarked that states are cautious about implementing GST rate cuts, aiming to protect revenue without imposing additional burdens on people. Discussions on revising GST rates are expected to begin in the GST Counc...

"Some taxes could generate more burdens on lower-income groups or people facing energy inequity. But we could get more creative about policy solutions — could we perhaps have fossil fuel taxes that are higher for products which higher-income people ...

The Centre is anticipating a significant surplus of approximately Rs 70,000 crore from GST compensation cess collections, even after repaying loans taken during the Covid-19 period on behalf of states. This unexpected windfall is due to robust colle...

GST Council Meeting: The upcoming 53rd meeting of GST Council is poised to discuss several key measures that could pave the way for significant tax reforms ahead of the government's first full budget. Among the agenda items are -- the use of approxi...

The GST Council will discuss the future of the compensation cess on luxury and demerit goods collected to repay loans taken by the Indian government during the COVID-19 pandemic. The council will decide on the name and distribution of the cess beyon...