The clarification came amid protests and widespread criticism by Opposition Members of Parliament over foisting GST on daily-use essentials and subsequent price rise
Says govt running away from discussion in Parliament on price rise, Rs
While the GST council proposed to withdraw tax exemptions for a few items and rate changes for others, exemptions for many others were removed
From next week, many household items, hotels, and bank services among other things will get costlier
But the government is open to discussing narrowing down the three slabs of 5, 12 and 18 per cent into two, he said while addressing industry leaders
Goyal said another big advantage is for the small retailers who are very keen to engage with ecommerce
The benefits of GST will positively ensure it to be 'Good and Simple Tax' for citizens of India, says Prime Minister Narendra Modi on the eve of the GST launch
The GST is still paying the price for govts talking the talk of a good and simple tax on July 1, 2017, but not walking the walk thereafter
Addressing mistakes made while introducing the tax and getting back to a revenue-neutral rate(s) constitute the agenda that awaits attention
The GST Council today is expected to take up extending compensation to the state
This ground report from Howrah talks about how the mid-sized and smaller players lost ground
The tax continues to evoke mixed feelings and remains work in progress
Exemptions may also be withdrawn on certain services such as business class flights from NE airports and certain hospital room categories
The GoM will seek an extension to submit its final report, they said, adding issues of tax rates will also be raised in the upcoming Council meeting later this month
No compromise on capex; consolidated fund to be used if needed, the source said
Hotel and restaurant body FHRAI has sought reduction in GST rates for the hospitality industry, as the sector struggles to recover from the impact of the pandemic-induced restrictions.
The problem is exacerbated as new products get introduced in the market. Since they didn't exist when GST classification was done initially, putting them in an appropriate category will now take time
The capital goods component is especially important now in view of the mandated guidelines for installation of pollution control equipment
A meeting of the panel of state finance ministers looking into GST rate rationalisation has been deferred, sources said. The Group of Ministers (GoM) on rate rationalisation, headed by Karnataka Chief Minister Basavaraj Bommai, also includes West Bengal Finance Minister Amit Mitra, Kerala Finance Minister K N Balagopal, and Bihar Deputy Chief Minister Tarkishore Prasad. It has met twice so far and was scheduled to meet on November 27 to consider recommendations of the Fitment committee regarding GST rate and slab changes. Sources said the meeting has been deferred and the GoM would submit its report to the GST Council, chaired by the union finance minister and comprising state counterparts. The Council, which meets once every quarter, is slated to meet next month. Sources had earlier said the Fitment committee, comprising tax officers from states and the Centre, has made many "sweeping" recommendations regarding slab and rate changes and taking items out of the exemption list. All
Retailers Association of India (RAI) on Tuesday urged Sitharaman, state governments and GST Council to reconsider the proposed hike in GST rates on several textiles and apparel items to 12 per cent