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…
In pre GST era the States had multiple laws which entitled them to impose taxation at different points. The States were scared of the fear of the unknown but the Central Govt. persuaded States with a 14% annual increase from the tax base of 2015-16 for a period of five years, said Jaitley.
It is a buyer-centric move. Developers will be burdened with GST payments to vendors, suppliers, agencies and contractors and it will increase the cost further amid the already shrinking margin due to the dynamic policies of the government.
After the initial hiccups GST is touted as now settling to provide the comfort blanket for producers of goods and services as also consumers, after having been blamed for the economy’s slowdown along with demonetization.
What is still missing in the real estate market is the intention of builders to pass on the benefit of the lower cost to the consumer. On December 8, the GST Council issued a notification seeking to address this very concern
"The government has been pro-actively engaging with various sectors and I am confident that going forward the council would continue to address issues," he added.