Govt cuts GST on three cancer drugs

  • 2024-10-11
  • Times Of India
Patna: The state commercial taxes department on Wednesday notified the reduction of GST on three medicines—Tratstuzumab Daruxtecan, Onimartinib, and Durvalumab—used for the treatment of cancer, and also on extruded salty items. It also freed govt undertakings, research associations, colleges, and institutions that conduct research and development with govt or private grants under Section 36 of the IT Act, from the GST.

GST notices to foreign airlines ‘regularized’

  • 2024-10-14
  • Business Line
Acting on the recommendations of the GST Council, the Central Board of Indirect Taxes & Customs (CBIC) has ‘regularised’ past show cause notices for tax demand issued to foreign airlines. It has also issued a circular regarding the applicability of GST on Preferential Location Charges (PLC) for residential or commercial properties.

Uber effect: CBIC to meet with ecommerce operators on Monday to resolve GST on rides

  • 2024-10-15
  • Economic Times
The Central Bureau of Indirect Taxes and Customs (CBIC) has called for a meeting of app-based ride-hailing services in Delhi on Monday to resolve differences over the applicability of goods and services tax (GST) on rides booked through e-commerce platforms after Uber India raised concerns about a lack of uniformity and level playing field.

GST Compensation Cess Future: Group of Ministers proposes merger with taxes

  • 2024-10-17
  • Economic Times
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 loss, needs restructuring for its future integration into GST.