Sin Goods and Sin Tax
- Recently, Finance Ministry said that two-wheelers are neither a luxury nor sin goods and so, merit a GST rate revision.
- Two-wheelers currently attract 28% GST.
- Last year, the country’s largest two-wheeler maker Hero MotoCorp had urged the government to consider a phase-wise reduction in GST on the segment, starting with bringing bikes up to 150 cc into the 18% slab.
Sin Goods
- Sin goods are goods which are considered harmful to society.
- Examples: Alcohol and Tobacco, Candies, Drugs, Soft drinks, Fast foods, Coffee, Sugar, Gambling and Pornography.
Sin Tax
- Taxes levied by the government on sin goods are called Sin Tax.
- These are imposed ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Related Content
- 1 US Targets India’s High Tariffs
- 2 India and Vietnam Hold Fourth Policy Planning Dialogue
- 3 India-Bhutan Hold Talks on Boundary and Cooperation
- 4 India and Armenia Sign MoU on Medical Product Regulation
- 5 Poland & Baltic States to Withdraw from Ottawa Convention
- 6 India-Malaysia Discuss Trade Ties & AITIGA
- 7 India and Mongolia Strengthen Strategic Partnership
- 8 New Freshwater Algae Species Discovered in Western Ghats
- 9 U.S. Withdraws from U.N. Climate Damage Fund Board
- 10 New Species of Congrid Eel Discovered
News Snippets
- 1 Narmadashankar Dave 'Narmad'
- 2 KIRAN Helpline Service for Mental Health Rehabilitation
- 3 Sahakar Cooptube Channel
- 4 Food System Vision Prize-2020
- 5 First Silk Production Center in Arunachal Pradesh
- 6 Krishi Megh
- 7 WHO Declares African Continent Free of Wild Polio
- 8 ASEAN-India Business Council Meet
- 9 Student Entrepreneurship Programme 2.0
- 10 Eye in the sky: Ninja Drones to Protect Rail Assets
- 11 Asteroid 2020 QG
- 12 Dragonfly Festival- Thumbimahotsavam 2020
- 13 India & Maldives Contract for Development of Eco-tourism Zones
- 14 World Elephant Day
- 15 Seed Bombs
- 16 Andhra's Etikoppaka Toys Craft