Historic Diwali Gift for the Nation - NEXT-GEN GST REFORM

[aayusharyan]

View attachment 109062
Karnataka Congress increased all petrol tax , alcohol tax , stamp paper tax , site registration taxes etc etc

If Central govt reduces tax now they are opposing this also

New GST increases tax on Alcohol AFAIK, no?
And Karnataka is one of the largest consumer of alcohol.

 

[thanix]

New GST increases tax on Alcohol AFAIK, no?
And Karnataka is one of the largest consumer of alcohol.

Alcohol is not part of GST.

 

[purushotham]

New GST increases tax on Alcohol AFAIK, no?
And Karnataka is one of the largest consumer of alcohol.

Alcohol comes under State govt list

So NO GST only VAT and Cess by state govt.

Alcohol contributes 40000+ crores to karnataka govt. Without this govt is hard to run.

Wonder how Gujarat and Bihar govt works without this 40000 crores taxes each year

 

[purushotham]

Alcohol is not part of GST.

Non Alcoholic beverage GST is applicable.

Alcoholic only state govt taxes.

 

[Z_S]

Alcohol comes under State govt list

So NO GST only VAT and Cess by state govt.

Alcohol contributes 40000+ crores to karnataka govt. Without this govt is hard to run.

Wonder how Gujarat and Bihar govt works without this 40000 crores taxes each year

In gujarat consumer spending is very very high like here all businessmen mentality first they spend then thinks,and manufacturing plants and all because of which gst collection is higher in gujarat

 

[mayankcse10]

Post GST also market is very cautious no moves either side

I would say all positives were already priced in.

 

[navdeep22]

Alcohol comes under State govt list

So NO GST only VAT and Cess by state govt.

Alcohol contributes 40000+ crores to karnataka govt. Without this govt is hard to run.

Wonder how Gujarat and Bihar govt works without this 40000 crores taxes each year

Like petrol diesel right? What all other categories are their where GST is not there and VAT cess are there

 

[navdeep22]

For term insurance and LIC endowment, Yes if your premium due starts after 22nd there should be no GST.

For health insurance or any other variable price policy the GST might get removed but the companies will probably raise base policy price to account for ITC loss.

For term insurance, they cannot change the premium price right? I have to pay same every year but without tax now

 

[mayankcse10]

For term insurance, they cannot change the premium price right? I have to pay same every year but without tax now

Yes, that's my understanding as of now.