The red brick-making industry has urged the government to reduce Goods and Services Tax (GST) rates on red bricks from the current 12 per cent to 5 per cent, and for the sector to be removed from the ...

The GST 2.0 storm looms over pharmacy retailers handling medicines, nutraceuticals and FMCG which are coming under the Composition Scheme and paying 1% tax on total turnover without input-tax credit.

There is persistence of dual treatment within the 5 percent slab. Taxation experts have cautioned that the carve-outs offered in rates, along with classification anomalies and unresolved input tax ...