VAT news tagged as "Negative list"


India cuts GST ‘negative list’

December 9th, 2015

India has reduced the number of goods which would be classified as exempt from the proposed Goods & Services Tax. The goods include many basic foodstuffs, including: coffee; tea; biscuits and medicines. These are currently exempt from Excise Duty, and are listed on the exhaustive ‘negative’ list which details over 300 exempt supplies. It is …