Once the consensus at officers level is reached then it will be put before GST Council meeting
Experts said that the ATF price would come down if it is kept in the 18% GST bracket
Under the Rule 92 of the Central GST (CGST) Act, the claim of the refund has to be made in the RFD 04 form. Thereafter, the officer concerned can accept or reject the claim after his investigations
FM Sitharaman assures sanctity of contracts
Time has come to monitor empirically the buoyancy and elasticity of the tax system
The GST Council has shown willingness to listen and make necessary course corrections
While lower GST would push occupancy and thereby aid room rates, lower corporate tax rate should add to earnings
Removal of compensation cess on all manufacturers of aerated drinks brought some breather for beverage majors
This is a welcome step to reverse the economic slowdown
States' developmental expenditure has gone up from 40 per cent to 60 per cent. There is a huge burden on states
The council also decided to a withdraw a circular issued in June which prescribed that the additional discount given by a company to a dealer in certain cases will be liable for Goods and Services Tax
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The Committee also rejected the telecom ministry's proposal to reduce GST rate for telecom services from the present 18 per cent to 12 per cent, sources said
Centre will push for single rate; Kerala wants to retain current dual structure
There have been demands pouring in from various sectors from biscuits to automobiles and FMCG to hotels to reduce tax rates in the wake of perceived economic slowdown
Minister of State for finance, Anurag Thakur said the government has already come out with slew of measures to address challenges faced by the auto industry
Move will help sanction and process refunds faster; may boost exports
The government is examining a rate reduction for such vehicles by doing away with the cess, which will bring down the tax incidence from 43% to 28%
This was the second month in the current fiscal year that the collections could not hit the Rs 1-trillion mark, the first being June