GST Council scraps tax on millet flour
Food preparations in powder form containing at least 70 per cent millets will not have to pay any GST, Finance Minister Nirmala Sitharaman said.
Food preparations in powder form containing at least 70 per cent millets will not have to pay any GST, Finance Minister Nirmala Sitharaman said.
Law Committee will examine suitable amendment in law to exclude ENA for use in manufacture of alcoholic liquors for human consumption from ambit of GST.
GST council is likely to give clarity on whether tax collected at source (TCS) should be deducted by the buyer or the e-commerce platform
It will be the 50th meeting of the Council. Union Finance Minister Nirmala Sitharaman, who heads the Council, will chair the meeting.
Union Finance Minister Nirmala Sitharaman on Monday said the Goods and Services Tax (GST) Council will have to take a…
The reduced rate of late fee would apply if GSTR-3B returns for these tax periods are furnished between June 1 and August 31, a Finance Ministry statement said.
The meeting might also take a political colour as few opposition ruled states like West Bengal, Punjab have been pushing for exempting Covid vaccine from GST. The Finance Ministry has been opposing such a move that would deny the benefit input tax credit for producers.
This comes after CAIT’s day-long Bharat Vyapar Bandh', on February 26, received a lukewarm response.
The Central Board of Indirect Taxes and Customs (CBIC) has introduced Rule 86B in GST Rules, to be applicable from January 1, 2021, which restricts use of input tax credit for discharging GST liability to 99 per cent.
Under the GST law, a National Anti-Profiteering Authority (NAA) and a Standing Committee on anti-profiteering have been set up to examine complaints of not passing on tax rate cut benefits to consumers.
