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The Telecom Regulatory Authority of India (TRAI) has recommended the FM, Arun Jaitley to lower applicable 18% GST on telecom services to 12%.
Sushil Kumar Modi, one of the GST council member said that he supports the GST tax revenue to be stabilized before the ministerial panel decides to further tweak the GST rates or merge the slabs.
According to the report, In 23rd GST Council Meeting, the Council had decided to lower tax rates nearly on 200 items could bring down inflation by 20 basis points from the current level, based on lower food and beverage prices.
Recently, in 23rd GST Council Meeting held in Guwahati, the Council revised rate structures under newly implemented tax reform. Impressive decisions have been taken by the tax officials and state finance ministers to reduce the tax burden on small business enterprises (SMEs).
23rd GST Council Meeting started today in Guwahati and for two days it will be discussing upon tax rates nearly on 150-200 items. Post GST implementation, traders and around six lakh business entities have wide expectations from Finance Minister Arun Jaitley.
The GST Council is ready to cut down the items from the list of maximum tax slab of 28% by moving some products of daily usage and products from SMEs (Small and Medium Enterprises) to another lesser tax slab.
GST implementation has put the BJP government on the edge of a knife. To fight against the allegations being showered by the opposition party, BJP government is trying to resolve the issues related to GST.
In a GoM panel which has been set by the union tax body and GST council has been sorting to view upon issues and complications regarding the micro, small and medium enterprises (MSME) sector in the second meeting scheduled for 29 October.
A five-member GoM meeting, including Assam finance minister Himanta Biswa Sarma, Jammu and Kashmir finance minister Haseeb Drabu, Bihar deputy chief minister Sushil Kumar Modi, Punjab finance minister Manpreet Singh Badal and Chhattisgarh commercial taxes minister Amar Agrawal, was set up on Sunday
