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…
Several state finance ministers through a video conference have already discussed the post-Covid economic situation and underlined the need for some form of aid especially for the MSME (micro, small and medium enterprises) sector which was hit hard by the pandemic and the subsequent lockdowns.
The meeting would discuss the impact of the pandemic on revenues of the Centre and states and ways to bridge the revenue gap, sources said.
Sitharaman also said that there is nowhere in the world do the prices of petrol and diesel remain steady for a particular period of time.
The Automotive Component Manufacturers Association of India (ACMA) has sought a uniform GST of 18 per cent for the entire sector in order to revive the vertical which has now witnessed 10 months of continuous decline in sales.
The 36th meeting of the Council, which will happen through video conferencing, is also likely to decide the valuation of goods and services in solar power generating systems and wind turbine projects for the purposes of levying GST.
