Gst Relief
FICCI calls for GST cut on EV batteries and charging to boost growth
EV Committee chair points out that while EVs are taxed at 5%, batteries and charging services face an 18% GST rate
 "FICCI calls for GST cut on EV batteries and charging to boost growth")
GST disputes persist due to conflicting interpretations of goods, services
Classification of items for GST rates was done on the basis of harmonised system of nomenclature codes. The codes contain 21 sections. These are divided into 99 chapters, which have 1,244 headings
 "GST disputes persist due to conflicting interpretations of goods, services")
Govt likely to announce retail trade policy, accident insurance scheme soon
The government is expected to announce a national retail trade policy and an accident insurance scheme soon with a view to supporting GST-registered domestic traders, an official said. The official said the proposed policy would help provide better infrastructure and more credit to the traders. It may include provisions related to ensuring easy and quick access to affordable credit, facilitating modernization and digitisation of retail trade; modern infrastructural support for subjects like distribution chain; promotion of skill development and improving labour productivity, and providing an effective consultative and grievance redressal mechanism. India is the world's fifth-largest global destination in the retail space. The commerce and industry ministry along with the department of financial services is also working on framing an insurance scheme for all the GST-registered retail traders. "The government is trying to do policy changes not only in e-commerce but is also bringing
 "Govt likely to announce retail trade policy, accident insurance scheme soon")
Grasim, UltraTech: Cement stocks eye up to 10% upside on GST review
The overall sentiment towards the cement stocks has remained lacklustre amid a gradual decline in their share prices, and a reduction in GST could help to lift this sentiment.
 "Grasim, UltraTech: Cement stocks eye up to 10% upside on GST review")
Medicine purchases by inpatients exempt from GST: Tamil Nadu AAR
An outpatient will be charged GST for medicines and consumables bought that were prescribed in the course of providing health care services
 "Medicine purchases by inpatients exempt from GST: Tamil Nadu AAR")
Top headlines: Further GST relief for Covid drugs; over 2 mn jabbed today
Business Standard brings you the top headlines on Friday
 "Top headlines: Further GST relief for Covid drugs; over 2 mn jabbed today")
Late fee relief to non-filers of GST returns to help small biz: Experts
The rationalisation of late fees for delayed filing of monthly GST returns will give relief to small businesses and add to the government revenue, according to tax experts
 "Late fee relief to non-filers of GST returns to help small biz: Experts")
RBI will encourage rupee to weaken
It will also maintain liquidity so that govt borrowing doesn't push yields up
 "RBI will encourage rupee to weaken")
Tax relief for exporters struggling to secure refunds for six months
Central Board of Excise and Customs Chairperson Vanaja N Sarna said exporters had made errors while filing refund claims. The payments solution the authorities are mulling is an e-wallet
 "Tax relief for exporters struggling to secure refunds for six months")
