Publish Date: | Mon, 27 Jun 2022 08:35 PM (IST)
GST Council Meeting: A meeting of GST officers from all over the country was held in Chandigarh on Monday, in which the main points of the agenda to be presented before the council were discussed. According to the information received, there is no consensus on the issue of change in GST slabs. Most of the state and UT representatives are in favor of the existing GST slab. There are currently four GST slabs, these are 5%, 12%, 18% and 28% slabs. Of these, there are 480 items in the 18% slab, which accounts for about 70% of the GST collection revenue. However, the final decision on these points will be taken in the meeting of the GST Council on June 29. Let us tell you that a meeting of the GST Council is to be held on June 28 and 29 at 11 am under the chairmanship of Union Finance Nirmala Sitharaman.
continuance demand for compensation
According to the information, on June 30, the deadline for compensation to be given by the Central Government to particular states is expiring. It is believed that representatives of many states like Kerala, Chhattisgarh, West Bengal can demand continuation of compensation. Let us tell you that in the year 2017, the Central Government had decided that the compensation amount would be given for the next five years to compensate for the abolition of VAT. Also, to meet the compensation, additional cess was imposed on many items like tobacco, cigarettes, expensive bikes and cars. However, the cess in the name of compensation will continue till March 30, 2026.
Aircraft fuel may come under GST
A decision can be taken in the council meeting to bring aviation fuel under the purview of GST. There is a possibility that the government may include aviation turbine fuel in the Goods and Services Tax and impose a GST of up to 18 percent on it. This is likely to bring down the cost of airlines.
These issues were also discussed
- Online gaming, cryptocurrencies, lotteries and casinos are almost certain to attract 28 per cent GST.
- GST rates can be increased on many items related to the textile industry.
- Himachal Pradesh has demanded reduction of GST on ropeways from 18 to 5%.
- GST on tetra pack can be increased from 12 to 18 percent.
- GST may also have to be paid in the hotel for rent less than Rs.
- The GST rate on items such as ostomy devices such as pouches, barrier creams, irrigation kits, belts, micro-pore tapes may be reduced from 12 per cent to five per cent.
- Orthoses (splints, braces, belts and calipers) are also proposed to be included in the minimum bracket of 5 per cent.
- It is proposed to bring prosthesis or all services related to it in the slab of 5 percent.
Posted By: Shailendra Kumar
Publish Date: | Mon, 27 Jun 2022 08:35 PM (IST)
GST Council Meeting: A meeting of GST officers from all over the country was held in Chandigarh on Monday, in which the main points of the agenda to be presented before the council were discussed. According to the information received, there is no consensus on the issue of change in GST slabs. Most of the state and UT representatives are in favor of the existing GST slab. There are currently four GST slabs, these are 5%, 12%, 18% and 28% slabs. Of these, there are 480 items in the 18% slab, which accounts for about 70% of the GST collection revenue. However, the final decision on these points will be taken in the meeting of the GST Council on June 29. Let us tell you that a meeting of the GST Council is to be held on June 28 and 29 at 11 am under the chairmanship of Union Finance Nirmala Sitharaman.
continuance demand for compensation
According to the information, on June 30, the deadline for compensation to be given by the Central Government to particular states is expiring. It is believed that representatives of many states like Kerala, Chhattisgarh, West Bengal can demand continuation of compensation. Let us tell you that in the year 2017, the Central Government had decided that the compensation amount would be given for the next five years to compensate for the abolition of VAT. Also, to meet the compensation, additional cess was imposed on many items like tobacco, cigarettes, expensive bikes and cars. However, the cess in the name of compensation will continue till March 30, 2026.
Aircraft fuel may come under GST
A decision can be taken in the council meeting to bring aviation fuel under the purview of GST. There is a possibility that the government may include aviation turbine fuel in the Goods and Services Tax and impose a GST of up to 18 percent on it. This is likely to bring down the cost of airlines.
These issues were also discussed
- Online gaming, cryptocurrencies, lotteries and casinos are almost certain to attract 28 per cent GST.
- GST rates can be increased on many items related to the textile industry.
- Himachal Pradesh has demanded reduction of GST on ropeways from 18 to 5%.
- GST on tetra pack can be increased from 12 to 18 percent.
- GST may also have to be paid in the hotel for rent less than Rs.
- The GST rate on items such as ostomy devices such as pouches, barrier creams, irrigation kits, belts, micro-pore tapes may be reduced from 12 per cent to five per cent.
- Orthoses (splints, braces, belts and calipers) are also proposed to be included in the minimum bracket of 5 per cent.
- It is proposed to bring prosthesis or all services related to it in the slab of 5 percent.
Posted By: Shailendra Kumar
Publish Date: | Mon, 27 Jun 2022 08:35 PM (IST)
GST Council Meeting: A meeting of GST officers from all over the country was held in Chandigarh on Monday, in which the main points of the agenda to be presented before the council were discussed. According to the information received, there is no consensus on the issue of change in GST slabs. Most of the state and UT representatives are in favor of the existing GST slab. There are currently four GST slabs, these are 5%, 12%, 18% and 28% slabs. Of these, there are 480 items in the 18% slab, which accounts for about 70% of the GST collection revenue. However, the final decision on these points will be taken in the meeting of the GST Council on June 29. Let us tell you that a meeting of the GST Council is to be held on June 28 and 29 at 11 am under the chairmanship of Union Finance Nirmala Sitharaman.
continuance demand for compensation
According to the information, on June 30, the deadline for compensation to be given by the Central Government to particular states is expiring. It is believed that representatives of many states like Kerala, Chhattisgarh, West Bengal can demand continuation of compensation. Let us tell you that in the year 2017, the Central Government had decided that the compensation amount would be given for the next five years to compensate for the abolition of VAT. Also, to meet the compensation, additional cess was imposed on many items like tobacco, cigarettes, expensive bikes and cars. However, the cess in the name of compensation will continue till March 30, 2026.
Aircraft fuel may come under GST
A decision can be taken in the council meeting to bring aviation fuel under the purview of GST. There is a possibility that the government may include aviation turbine fuel in the Goods and Services Tax and impose a GST of up to 18 percent on it. This is likely to bring down the cost of airlines.
These issues were also discussed
- Online gaming, cryptocurrencies, lotteries and casinos are almost certain to attract 28 per cent GST.
- GST rates can be increased on many items related to the textile industry.
- Himachal Pradesh has demanded reduction of GST on ropeways from 18 to 5%.
- GST on tetra pack can be increased from 12 to 18 percent.
- GST may also have to be paid in the hotel for rent less than Rs.
- The GST rate on items such as ostomy devices such as pouches, barrier creams, irrigation kits, belts, micro-pore tapes may be reduced from 12 per cent to five per cent.
- Orthoses (splints, braces, belts and calipers) are also proposed to be included in the minimum bracket of 5 per cent.
- It is proposed to bring prosthesis or all services related to it in the slab of 5 percent.
Posted By: Shailendra Kumar
Publish Date: | Mon, 27 Jun 2022 08:35 PM (IST)
GST Council Meeting: A meeting of GST officers from all over the country was held in Chandigarh on Monday, in which the main points of the agenda to be presented before the council were discussed. According to the information received, there is no consensus on the issue of change in GST slabs. Most of the state and UT representatives are in favor of the existing GST slab. There are currently four GST slabs, these are 5%, 12%, 18% and 28% slabs. Of these, there are 480 items in the 18% slab, which accounts for about 70% of the GST collection revenue. However, the final decision on these points will be taken in the meeting of the GST Council on June 29. Let us tell you that a meeting of the GST Council is to be held on June 28 and 29 at 11 am under the chairmanship of Union Finance Nirmala Sitharaman.
continuance demand for compensation
According to the information, on June 30, the deadline for compensation to be given by the Central Government to particular states is expiring. It is believed that representatives of many states like Kerala, Chhattisgarh, West Bengal can demand continuation of compensation. Let us tell you that in the year 2017, the Central Government had decided that the compensation amount would be given for the next five years to compensate for the abolition of VAT. Also, to meet the compensation, additional cess was imposed on many items like tobacco, cigarettes, expensive bikes and cars. However, the cess in the name of compensation will continue till March 30, 2026.
Aircraft fuel may come under GST
A decision can be taken in the council meeting to bring aviation fuel under the purview of GST. There is a possibility that the government may include aviation turbine fuel in the Goods and Services Tax and impose a GST of up to 18 percent on it. This is likely to bring down the cost of airlines.
These issues were also discussed
- Online gaming, cryptocurrencies, lotteries and casinos are almost certain to attract 28 per cent GST.
- GST rates can be increased on many items related to the textile industry.
- Himachal Pradesh has demanded reduction of GST on ropeways from 18 to 5%.
- GST on tetra pack can be increased from 12 to 18 percent.
- GST may also have to be paid in the hotel for rent less than Rs.
- The GST rate on items such as ostomy devices such as pouches, barrier creams, irrigation kits, belts, micro-pore tapes may be reduced from 12 per cent to five per cent.
- Orthoses (splints, braces, belts and calipers) are also proposed to be included in the minimum bracket of 5 per cent.
- It is proposed to bring prosthesis or all services related to it in the slab of 5 percent.
Posted By: Shailendra Kumar
Publish Date: | Mon, 27 Jun 2022 08:35 PM (IST)
GST Council Meeting: A meeting of GST officers from all over the country was held in Chandigarh on Monday, in which the main points of the agenda to be presented before the council were discussed. According to the information received, there is no consensus on the issue of change in GST slabs. Most of the state and UT representatives are in favor of the existing GST slab. There are currently four GST slabs, these are 5%, 12%, 18% and 28% slabs. Of these, there are 480 items in the 18% slab, which accounts for about 70% of the GST collection revenue. However, the final decision on these points will be taken in the meeting of the GST Council on June 29. Let us tell you that a meeting of the GST Council is to be held on June 28 and 29 at 11 am under the chairmanship of Union Finance Nirmala Sitharaman.
continuance demand for compensation
According to the information, on June 30, the deadline for compensation to be given by the Central Government to particular states is expiring. It is believed that representatives of many states like Kerala, Chhattisgarh, West Bengal can demand continuation of compensation. Let us tell you that in the year 2017, the Central Government had decided that the compensation amount would be given for the next five years to compensate for the abolition of VAT. Also, to meet the compensation, additional cess was imposed on many items like tobacco, cigarettes, expensive bikes and cars. However, the cess in the name of compensation will continue till March 30, 2026.
Aircraft fuel may come under GST
A decision can be taken in the council meeting to bring aviation fuel under the purview of GST. There is a possibility that the government may include aviation turbine fuel in the Goods and Services Tax and impose a GST of up to 18 percent on it. This is likely to bring down the cost of airlines.
These issues were also discussed
- Online gaming, cryptocurrencies, lotteries and casinos are almost certain to attract 28 per cent GST.
- GST rates can be increased on many items related to the textile industry.
- Himachal Pradesh has demanded reduction of GST on ropeways from 18 to 5%.
- GST on tetra pack can be increased from 12 to 18 percent.
- GST may also have to be paid in the hotel for rent less than Rs.
- The GST rate on items such as ostomy devices such as pouches, barrier creams, irrigation kits, belts, micro-pore tapes may be reduced from 12 per cent to five per cent.
- Orthoses (splints, braces, belts and calipers) are also proposed to be included in the minimum bracket of 5 per cent.
- It is proposed to bring prosthesis or all services related to it in the slab of 5 percent.
Posted By: Shailendra Kumar
Publish Date: | Mon, 27 Jun 2022 08:35 PM (IST)
GST Council Meeting: A meeting of GST officers from all over the country was held in Chandigarh on Monday, in which the main points of the agenda to be presented before the council were discussed. According to the information received, there is no consensus on the issue of change in GST slabs. Most of the state and UT representatives are in favor of the existing GST slab. There are currently four GST slabs, these are 5%, 12%, 18% and 28% slabs. Of these, there are 480 items in the 18% slab, which accounts for about 70% of the GST collection revenue. However, the final decision on these points will be taken in the meeting of the GST Council on June 29. Let us tell you that a meeting of the GST Council is to be held on June 28 and 29 at 11 am under the chairmanship of Union Finance Nirmala Sitharaman.
continuance demand for compensation
According to the information, on June 30, the deadline for compensation to be given by the Central Government to particular states is expiring. It is believed that representatives of many states like Kerala, Chhattisgarh, West Bengal can demand continuation of compensation. Let us tell you that in the year 2017, the Central Government had decided that the compensation amount would be given for the next five years to compensate for the abolition of VAT. Also, to meet the compensation, additional cess was imposed on many items like tobacco, cigarettes, expensive bikes and cars. However, the cess in the name of compensation will continue till March 30, 2026.
Aircraft fuel may come under GST
A decision can be taken in the council meeting to bring aviation fuel under the purview of GST. There is a possibility that the government may include aviation turbine fuel in the Goods and Services Tax and impose a GST of up to 18 percent on it. This is likely to bring down the cost of airlines.
These issues were also discussed
- Online gaming, cryptocurrencies, lotteries and casinos are almost certain to attract 28 per cent GST.
- GST rates can be increased on many items related to the textile industry.
- Himachal Pradesh has demanded reduction of GST on ropeways from 18 to 5%.
- GST on tetra pack can be increased from 12 to 18 percent.
- GST may also have to be paid in the hotel for rent less than Rs.
- The GST rate on items such as ostomy devices such as pouches, barrier creams, irrigation kits, belts, micro-pore tapes may be reduced from 12 per cent to five per cent.
- Orthoses (splints, braces, belts and calipers) are also proposed to be included in the minimum bracket of 5 per cent.
- It is proposed to bring prosthesis or all services related to it in the slab of 5 percent.
Posted By: Shailendra Kumar
Publish Date: | Mon, 27 Jun 2022 08:35 PM (IST)
GST Council Meeting: A meeting of GST officers from all over the country was held in Chandigarh on Monday, in which the main points of the agenda to be presented before the council were discussed. According to the information received, there is no consensus on the issue of change in GST slabs. Most of the state and UT representatives are in favor of the existing GST slab. There are currently four GST slabs, these are 5%, 12%, 18% and 28% slabs. Of these, there are 480 items in the 18% slab, which accounts for about 70% of the GST collection revenue. However, the final decision on these points will be taken in the meeting of the GST Council on June 29. Let us tell you that a meeting of the GST Council is to be held on June 28 and 29 at 11 am under the chairmanship of Union Finance Nirmala Sitharaman.
continuance demand for compensation
According to the information, on June 30, the deadline for compensation to be given by the Central Government to particular states is expiring. It is believed that representatives of many states like Kerala, Chhattisgarh, West Bengal can demand continuation of compensation. Let us tell you that in the year 2017, the Central Government had decided that the compensation amount would be given for the next five years to compensate for the abolition of VAT. Also, to meet the compensation, additional cess was imposed on many items like tobacco, cigarettes, expensive bikes and cars. However, the cess in the name of compensation will continue till March 30, 2026.
Aircraft fuel may come under GST
A decision can be taken in the council meeting to bring aviation fuel under the purview of GST. There is a possibility that the government may include aviation turbine fuel in the Goods and Services Tax and impose a GST of up to 18 percent on it. This is likely to bring down the cost of airlines.
These issues were also discussed
- Online gaming, cryptocurrencies, lotteries and casinos are almost certain to attract 28 per cent GST.
- GST rates can be increased on many items related to the textile industry.
- Himachal Pradesh has demanded reduction of GST on ropeways from 18 to 5%.
- GST on tetra pack can be increased from 12 to 18 percent.
- GST may also have to be paid in the hotel for rent less than Rs.
- The GST rate on items such as ostomy devices such as pouches, barrier creams, irrigation kits, belts, micro-pore tapes may be reduced from 12 per cent to five per cent.
- Orthoses (splints, braces, belts and calipers) are also proposed to be included in the minimum bracket of 5 per cent.
- It is proposed to bring prosthesis or all services related to it in the slab of 5 percent.
Posted By: Shailendra Kumar
Publish Date: | Mon, 27 Jun 2022 08:35 PM (IST)
GST Council Meeting: A meeting of GST officers from all over the country was held in Chandigarh on Monday, in which the main points of the agenda to be presented before the council were discussed. According to the information received, there is no consensus on the issue of change in GST slabs. Most of the state and UT representatives are in favor of the existing GST slab. There are currently four GST slabs, these are 5%, 12%, 18% and 28% slabs. Of these, there are 480 items in the 18% slab, which accounts for about 70% of the GST collection revenue. However, the final decision on these points will be taken in the meeting of the GST Council on June 29. Let us tell you that a meeting of the GST Council is to be held on June 28 and 29 at 11 am under the chairmanship of Union Finance Nirmala Sitharaman.
continuance demand for compensation
According to the information, on June 30, the deadline for compensation to be given by the Central Government to particular states is expiring. It is believed that representatives of many states like Kerala, Chhattisgarh, West Bengal can demand continuation of compensation. Let us tell you that in the year 2017, the Central Government had decided that the compensation amount would be given for the next five years to compensate for the abolition of VAT. Also, to meet the compensation, additional cess was imposed on many items like tobacco, cigarettes, expensive bikes and cars. However, the cess in the name of compensation will continue till March 30, 2026.
Aircraft fuel may come under GST
A decision can be taken in the council meeting to bring aviation fuel under the purview of GST. There is a possibility that the government may include aviation turbine fuel in the Goods and Services Tax and impose a GST of up to 18 percent on it. This is likely to bring down the cost of airlines.
These issues were also discussed
- Online gaming, cryptocurrencies, lotteries and casinos are almost certain to attract 28 per cent GST.
- GST rates can be increased on many items related to the textile industry.
- Himachal Pradesh has demanded reduction of GST on ropeways from 18 to 5%.
- GST on tetra pack can be increased from 12 to 18 percent.
- GST may also have to be paid in the hotel for rent less than Rs.
- The GST rate on items such as ostomy devices such as pouches, barrier creams, irrigation kits, belts, micro-pore tapes may be reduced from 12 per cent to five per cent.
- Orthoses (splints, braces, belts and calipers) are also proposed to be included in the minimum bracket of 5 per cent.
- It is proposed to bring prosthesis or all services related to it in the slab of 5 percent.
Posted By: Shailendra Kumar
Publish Date: | Mon, 27 Jun 2022 08:35 PM (IST)
GST Council Meeting: A meeting of GST officers from all over the country was held in Chandigarh on Monday, in which the main points of the agenda to be presented before the council were discussed. According to the information received, there is no consensus on the issue of change in GST slabs. Most of the state and UT representatives are in favor of the existing GST slab. There are currently four GST slabs, these are 5%, 12%, 18% and 28% slabs. Of these, there are 480 items in the 18% slab, which accounts for about 70% of the GST collection revenue. However, the final decision on these points will be taken in the meeting of the GST Council on June 29. Let us tell you that a meeting of the GST Council is to be held on June 28 and 29 at 11 am under the chairmanship of Union Finance Nirmala Sitharaman.
continuance demand for compensation
According to the information, on June 30, the deadline for compensation to be given by the Central Government to particular states is expiring. It is believed that representatives of many states like Kerala, Chhattisgarh, West Bengal can demand continuation of compensation. Let us tell you that in the year 2017, the Central Government had decided that the compensation amount would be given for the next five years to compensate for the abolition of VAT. Also, to meet the compensation, additional cess was imposed on many items like tobacco, cigarettes, expensive bikes and cars. However, the cess in the name of compensation will continue till March 30, 2026.
Aircraft fuel may come under GST
A decision can be taken in the council meeting to bring aviation fuel under the purview of GST. There is a possibility that the government may include aviation turbine fuel in the Goods and Services Tax and impose a GST of up to 18 percent on it. This is likely to bring down the cost of airlines.
These issues were also discussed
- Online gaming, cryptocurrencies, lotteries and casinos are almost certain to attract 28 per cent GST.
- GST rates can be increased on many items related to the textile industry.
- Himachal Pradesh has demanded reduction of GST on ropeways from 18 to 5%.
- GST on tetra pack can be increased from 12 to 18 percent.
- GST may also have to be paid in the hotel for rent less than Rs.
- The GST rate on items such as ostomy devices such as pouches, barrier creams, irrigation kits, belts, micro-pore tapes may be reduced from 12 per cent to five per cent.
- Orthoses (splints, braces, belts and calipers) are also proposed to be included in the minimum bracket of 5 per cent.
- It is proposed to bring prosthesis or all services related to it in the slab of 5 percent.
Posted By: Shailendra Kumar
Publish Date: | Mon, 27 Jun 2022 08:35 PM (IST)
GST Council Meeting: A meeting of GST officers from all over the country was held in Chandigarh on Monday, in which the main points of the agenda to be presented before the council were discussed. According to the information received, there is no consensus on the issue of change in GST slabs. Most of the state and UT representatives are in favor of the existing GST slab. There are currently four GST slabs, these are 5%, 12%, 18% and 28% slabs. Of these, there are 480 items in the 18% slab, which accounts for about 70% of the GST collection revenue. However, the final decision on these points will be taken in the meeting of the GST Council on June 29. Let us tell you that a meeting of the GST Council is to be held on June 28 and 29 at 11 am under the chairmanship of Union Finance Nirmala Sitharaman.
continuance demand for compensation
According to the information, on June 30, the deadline for compensation to be given by the Central Government to particular states is expiring. It is believed that representatives of many states like Kerala, Chhattisgarh, West Bengal can demand continuation of compensation. Let us tell you that in the year 2017, the Central Government had decided that the compensation amount would be given for the next five years to compensate for the abolition of VAT. Also, to meet the compensation, additional cess was imposed on many items like tobacco, cigarettes, expensive bikes and cars. However, the cess in the name of compensation will continue till March 30, 2026.
Aircraft fuel may come under GST
A decision can be taken in the council meeting to bring aviation fuel under the purview of GST. There is a possibility that the government may include aviation turbine fuel in the Goods and Services Tax and impose a GST of up to 18 percent on it. This is likely to bring down the cost of airlines.
These issues were also discussed
- Online gaming, cryptocurrencies, lotteries and casinos are almost certain to attract 28 per cent GST.
- GST rates can be increased on many items related to the textile industry.
- Himachal Pradesh has demanded reduction of GST on ropeways from 18 to 5%.
- GST on tetra pack can be increased from 12 to 18 percent.
- GST may also have to be paid in the hotel for rent less than Rs.
- The GST rate on items such as ostomy devices such as pouches, barrier creams, irrigation kits, belts, micro-pore tapes may be reduced from 12 per cent to five per cent.
- Orthoses (splints, braces, belts and calipers) are also proposed to be included in the minimum bracket of 5 per cent.
- It is proposed to bring prosthesis or all services related to it in the slab of 5 percent.
Posted By: Shailendra Kumar
Publish Date: | Mon, 27 Jun 2022 08:35 PM (IST)
GST Council Meeting: A meeting of GST officers from all over the country was held in Chandigarh on Monday, in which the main points of the agenda to be presented before the council were discussed. According to the information received, there is no consensus on the issue of change in GST slabs. Most of the state and UT representatives are in favor of the existing GST slab. There are currently four GST slabs, these are 5%, 12%, 18% and 28% slabs. Of these, there are 480 items in the 18% slab, which accounts for about 70% of the GST collection revenue. However, the final decision on these points will be taken in the meeting of the GST Council on June 29. Let us tell you that a meeting of the GST Council is to be held on June 28 and 29 at 11 am under the chairmanship of Union Finance Nirmala Sitharaman.
continuance demand for compensation
According to the information, on June 30, the deadline for compensation to be given by the Central Government to particular states is expiring. It is believed that representatives of many states like Kerala, Chhattisgarh, West Bengal can demand continuation of compensation. Let us tell you that in the year 2017, the Central Government had decided that the compensation amount would be given for the next five years to compensate for the abolition of VAT. Also, to meet the compensation, additional cess was imposed on many items like tobacco, cigarettes, expensive bikes and cars. However, the cess in the name of compensation will continue till March 30, 2026.
Aircraft fuel may come under GST
A decision can be taken in the council meeting to bring aviation fuel under the purview of GST. There is a possibility that the government may include aviation turbine fuel in the Goods and Services Tax and impose a GST of up to 18 percent on it. This is likely to bring down the cost of airlines.
These issues were also discussed
- Online gaming, cryptocurrencies, lotteries and casinos are almost certain to attract 28 per cent GST.
- GST rates can be increased on many items related to the textile industry.
- Himachal Pradesh has demanded reduction of GST on ropeways from 18 to 5%.
- GST on tetra pack can be increased from 12 to 18 percent.
- GST may also have to be paid in the hotel for rent less than Rs.
- The GST rate on items such as ostomy devices such as pouches, barrier creams, irrigation kits, belts, micro-pore tapes may be reduced from 12 per cent to five per cent.
- Orthoses (splints, braces, belts and calipers) are also proposed to be included in the minimum bracket of 5 per cent.
- It is proposed to bring prosthesis or all services related to it in the slab of 5 percent.
Posted By: Shailendra Kumar
Publish Date: | Mon, 27 Jun 2022 08:35 PM (IST)
GST Council Meeting: A meeting of GST officers from all over the country was held in Chandigarh on Monday, in which the main points of the agenda to be presented before the council were discussed. According to the information received, there is no consensus on the issue of change in GST slabs. Most of the state and UT representatives are in favor of the existing GST slab. There are currently four GST slabs, these are 5%, 12%, 18% and 28% slabs. Of these, there are 480 items in the 18% slab, which accounts for about 70% of the GST collection revenue. However, the final decision on these points will be taken in the meeting of the GST Council on June 29. Let us tell you that a meeting of the GST Council is to be held on June 28 and 29 at 11 am under the chairmanship of Union Finance Nirmala Sitharaman.
continuance demand for compensation
According to the information, on June 30, the deadline for compensation to be given by the Central Government to particular states is expiring. It is believed that representatives of many states like Kerala, Chhattisgarh, West Bengal can demand continuation of compensation. Let us tell you that in the year 2017, the Central Government had decided that the compensation amount would be given for the next five years to compensate for the abolition of VAT. Also, to meet the compensation, additional cess was imposed on many items like tobacco, cigarettes, expensive bikes and cars. However, the cess in the name of compensation will continue till March 30, 2026.
Aircraft fuel may come under GST
A decision can be taken in the council meeting to bring aviation fuel under the purview of GST. There is a possibility that the government may include aviation turbine fuel in the Goods and Services Tax and impose a GST of up to 18 percent on it. This is likely to bring down the cost of airlines.
These issues were also discussed
- Online gaming, cryptocurrencies, lotteries and casinos are almost certain to attract 28 per cent GST.
- GST rates can be increased on many items related to the textile industry.
- Himachal Pradesh has demanded reduction of GST on ropeways from 18 to 5%.
- GST on tetra pack can be increased from 12 to 18 percent.
- GST may also have to be paid in the hotel for rent less than Rs.
- The GST rate on items such as ostomy devices such as pouches, barrier creams, irrigation kits, belts, micro-pore tapes may be reduced from 12 per cent to five per cent.
- Orthoses (splints, braces, belts and calipers) are also proposed to be included in the minimum bracket of 5 per cent.
- It is proposed to bring prosthesis or all services related to it in the slab of 5 percent.
Posted By: Shailendra Kumar
Publish Date: | Mon, 27 Jun 2022 08:35 PM (IST)
GST Council Meeting: A meeting of GST officers from all over the country was held in Chandigarh on Monday, in which the main points of the agenda to be presented before the council were discussed. According to the information received, there is no consensus on the issue of change in GST slabs. Most of the state and UT representatives are in favor of the existing GST slab. There are currently four GST slabs, these are 5%, 12%, 18% and 28% slabs. Of these, there are 480 items in the 18% slab, which accounts for about 70% of the GST collection revenue. However, the final decision on these points will be taken in the meeting of the GST Council on June 29. Let us tell you that a meeting of the GST Council is to be held on June 28 and 29 at 11 am under the chairmanship of Union Finance Nirmala Sitharaman.
continuance demand for compensation
According to the information, on June 30, the deadline for compensation to be given by the Central Government to particular states is expiring. It is believed that representatives of many states like Kerala, Chhattisgarh, West Bengal can demand continuation of compensation. Let us tell you that in the year 2017, the Central Government had decided that the compensation amount would be given for the next five years to compensate for the abolition of VAT. Also, to meet the compensation, additional cess was imposed on many items like tobacco, cigarettes, expensive bikes and cars. However, the cess in the name of compensation will continue till March 30, 2026.
Aircraft fuel may come under GST
A decision can be taken in the council meeting to bring aviation fuel under the purview of GST. There is a possibility that the government may include aviation turbine fuel in the Goods and Services Tax and impose a GST of up to 18 percent on it. This is likely to bring down the cost of airlines.
These issues were also discussed
- Online gaming, cryptocurrencies, lotteries and casinos are almost certain to attract 28 per cent GST.
- GST rates can be increased on many items related to the textile industry.
- Himachal Pradesh has demanded reduction of GST on ropeways from 18 to 5%.
- GST on tetra pack can be increased from 12 to 18 percent.
- GST may also have to be paid in the hotel for rent less than Rs.
- The GST rate on items such as ostomy devices such as pouches, barrier creams, irrigation kits, belts, micro-pore tapes may be reduced from 12 per cent to five per cent.
- Orthoses (splints, braces, belts and calipers) are also proposed to be included in the minimum bracket of 5 per cent.
- It is proposed to bring prosthesis or all services related to it in the slab of 5 percent.
Posted By: Shailendra Kumar
Publish Date: | Mon, 27 Jun 2022 08:35 PM (IST)
GST Council Meeting: A meeting of GST officers from all over the country was held in Chandigarh on Monday, in which the main points of the agenda to be presented before the council were discussed. According to the information received, there is no consensus on the issue of change in GST slabs. Most of the state and UT representatives are in favor of the existing GST slab. There are currently four GST slabs, these are 5%, 12%, 18% and 28% slabs. Of these, there are 480 items in the 18% slab, which accounts for about 70% of the GST collection revenue. However, the final decision on these points will be taken in the meeting of the GST Council on June 29. Let us tell you that a meeting of the GST Council is to be held on June 28 and 29 at 11 am under the chairmanship of Union Finance Nirmala Sitharaman.
continuance demand for compensation
According to the information, on June 30, the deadline for compensation to be given by the Central Government to particular states is expiring. It is believed that representatives of many states like Kerala, Chhattisgarh, West Bengal can demand continuation of compensation. Let us tell you that in the year 2017, the Central Government had decided that the compensation amount would be given for the next five years to compensate for the abolition of VAT. Also, to meet the compensation, additional cess was imposed on many items like tobacco, cigarettes, expensive bikes and cars. However, the cess in the name of compensation will continue till March 30, 2026.
Aircraft fuel may come under GST
A decision can be taken in the council meeting to bring aviation fuel under the purview of GST. There is a possibility that the government may include aviation turbine fuel in the Goods and Services Tax and impose a GST of up to 18 percent on it. This is likely to bring down the cost of airlines.
These issues were also discussed
- Online gaming, cryptocurrencies, lotteries and casinos are almost certain to attract 28 per cent GST.
- GST rates can be increased on many items related to the textile industry.
- Himachal Pradesh has demanded reduction of GST on ropeways from 18 to 5%.
- GST on tetra pack can be increased from 12 to 18 percent.
- GST may also have to be paid in the hotel for rent less than Rs.
- The GST rate on items such as ostomy devices such as pouches, barrier creams, irrigation kits, belts, micro-pore tapes may be reduced from 12 per cent to five per cent.
- Orthoses (splints, braces, belts and calipers) are also proposed to be included in the minimum bracket of 5 per cent.
- It is proposed to bring prosthesis or all services related to it in the slab of 5 percent.
Posted By: Shailendra Kumar
Publish Date: | Mon, 27 Jun 2022 08:35 PM (IST)
GST Council Meeting: A meeting of GST officers from all over the country was held in Chandigarh on Monday, in which the main points of the agenda to be presented before the council were discussed. According to the information received, there is no consensus on the issue of change in GST slabs. Most of the state and UT representatives are in favor of the existing GST slab. There are currently four GST slabs, these are 5%, 12%, 18% and 28% slabs. Of these, there are 480 items in the 18% slab, which accounts for about 70% of the GST collection revenue. However, the final decision on these points will be taken in the meeting of the GST Council on June 29. Let us tell you that a meeting of the GST Council is to be held on June 28 and 29 at 11 am under the chairmanship of Union Finance Nirmala Sitharaman.
continuance demand for compensation
According to the information, on June 30, the deadline for compensation to be given by the Central Government to particular states is expiring. It is believed that representatives of many states like Kerala, Chhattisgarh, West Bengal can demand continuation of compensation. Let us tell you that in the year 2017, the Central Government had decided that the compensation amount would be given for the next five years to compensate for the abolition of VAT. Also, to meet the compensation, additional cess was imposed on many items like tobacco, cigarettes, expensive bikes and cars. However, the cess in the name of compensation will continue till March 30, 2026.
Aircraft fuel may come under GST
A decision can be taken in the council meeting to bring aviation fuel under the purview of GST. There is a possibility that the government may include aviation turbine fuel in the Goods and Services Tax and impose a GST of up to 18 percent on it. This is likely to bring down the cost of airlines.
These issues were also discussed
- Online gaming, cryptocurrencies, lotteries and casinos are almost certain to attract 28 per cent GST.
- GST rates can be increased on many items related to the textile industry.
- Himachal Pradesh has demanded reduction of GST on ropeways from 18 to 5%.
- GST on tetra pack can be increased from 12 to 18 percent.
- GST may also have to be paid in the hotel for rent less than Rs.
- The GST rate on items such as ostomy devices such as pouches, barrier creams, irrigation kits, belts, micro-pore tapes may be reduced from 12 per cent to five per cent.
- Orthoses (splints, braces, belts and calipers) are also proposed to be included in the minimum bracket of 5 per cent.
- It is proposed to bring prosthesis or all services related to it in the slab of 5 percent.
Posted By: Shailendra Kumar
Publish Date: | Mon, 27 Jun 2022 08:35 PM (IST)
GST Council Meeting: A meeting of GST officers from all over the country was held in Chandigarh on Monday, in which the main points of the agenda to be presented before the council were discussed. According to the information received, there is no consensus on the issue of change in GST slabs. Most of the state and UT representatives are in favor of the existing GST slab. There are currently four GST slabs, these are 5%, 12%, 18% and 28% slabs. Of these, there are 480 items in the 18% slab, which accounts for about 70% of the GST collection revenue. However, the final decision on these points will be taken in the meeting of the GST Council on June 29. Let us tell you that a meeting of the GST Council is to be held on June 28 and 29 at 11 am under the chairmanship of Union Finance Nirmala Sitharaman.
continuance demand for compensation
According to the information, on June 30, the deadline for compensation to be given by the Central Government to particular states is expiring. It is believed that representatives of many states like Kerala, Chhattisgarh, West Bengal can demand continuation of compensation. Let us tell you that in the year 2017, the Central Government had decided that the compensation amount would be given for the next five years to compensate for the abolition of VAT. Also, to meet the compensation, additional cess was imposed on many items like tobacco, cigarettes, expensive bikes and cars. However, the cess in the name of compensation will continue till March 30, 2026.
Aircraft fuel may come under GST
A decision can be taken in the council meeting to bring aviation fuel under the purview of GST. There is a possibility that the government may include aviation turbine fuel in the Goods and Services Tax and impose a GST of up to 18 percent on it. This is likely to bring down the cost of airlines.
These issues were also discussed
- Online gaming, cryptocurrencies, lotteries and casinos are almost certain to attract 28 per cent GST.
- GST rates can be increased on many items related to the textile industry.
- Himachal Pradesh has demanded reduction of GST on ropeways from 18 to 5%.
- GST on tetra pack can be increased from 12 to 18 percent.
- GST may also have to be paid in the hotel for rent less than Rs.
- The GST rate on items such as ostomy devices such as pouches, barrier creams, irrigation kits, belts, micro-pore tapes may be reduced from 12 per cent to five per cent.
- Orthoses (splints, braces, belts and calipers) are also proposed to be included in the minimum bracket of 5 per cent.
- It is proposed to bring prosthesis or all services related to it in the slab of 5 percent.
Posted By: Shailendra Kumar
