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GST Council meeting on September 9: A look at key proposals and expected changes

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  GST Council meeting on September 9: A look at key proposals and expected changes The GST Council’s meeting promises to address issues that could impact various sectors. Here's a look at key expectations: Compensation cess continuation  | The Council is expected to provide clarity on the continuation of the GST compensation cess. Sources suggest that the cess may extend “well into” 2025-26 (FY26). There will also be discussions on whether to eventually replace this cess with a tax or a new cess. Review of GST on insurance premiums |  One of the major topics is the GST rate on life and health insurance premiums. The fitment panel has reviewed the current 18% GST rate, and the Council will deliberate on possible reductions. This change could provide relief to policyholders. Relief for foreign airlines |  Another key issue is the GST burden on foreign airlines. The Council may consider exempting the import of services by foreign airlines’ head offices when received without considerat
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How to e-Pay Income Tax Online?

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  How to e-Pay Income Tax Online? Here's a step-by-step guide on how to make tax payment on the Income Tax Portal  without logging in: Step 1: Navigating to 'e-Pay Tax' Section Visit the Income Tax Portal On the homepage, locate the 'Quick Links' section on the left side.  Click on the 'e-Pay Tax' option or use the search bar to find 'e-Pay Tax'. Step 2: Enter PAN/TAN and Mobile Number Enter your  PAN  and re-enter to confirm it.  Provide your  mobile number  and click 'Continue'.     Enter the  6-digit OTP  received on your mobile number and click 'Continue'.   Step 3: Select the correct Assessment Year and Payment Type Select the first box labelled as  ‘Income Tax’  and click  ‘Proceed’     From the ‘ Assessment Year ’ dropdown, select ‘ 2024-25 ’ Under the ‘ Type of Payment ’, select ‘ Self-Assessment Tax (300) ’ and click on ' Continue '. Step 4: Enter Tax Payment Details  Enter the payment amounts accurately under the rel
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  5% GST on EVs should continue for at least 8-10 years: Mercedes-Benz India CEO Mercedes-Benz India on Tuesday said that the taxation on electric or environment-friendly vehicles should continue with lesser tariff, like the five per cent GST for the next eight-10 years, so that companies like them can do better planning for next generation mobility. “When it comes to electrification, we are aware that the taxation is outside of the Budget scope, but a clear statement of intent that the five per cent GST and these taxes will continue for the next 8 to 10 years, so brands like us and others can all make long-term EV plans because one thing is clear, the customer is not ready to pay a significant premium yet for an EV,” the Managing Director and Chief Executive Officer, Mercedes-Benz India, told businessline, when asked about expectations from the upcoming Union Budget. He said big targets and long-term plans can only be achieved if the taxation continues as it is, so that companies can
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