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After the reduction of GST rates on marble stones and tiles, the prices of stones have declined and there is a rise in the sale of both marble stones and tiles.

The clause for anti-profiteering has emerged quite a while ago when the finance ministry first announced that any company found blocking the tax benefits to the consumers will be penalized and also various other severe measures will be taken against them.

The provisions are never ending and now the government has directed that the small vendors listed on the e-commerce giants like Flipkart and amazon will have to pay a GST in advance under the goods and services tax scheme when they get their payments even if they fall into the exempted series.

Industry chamber Assocham mentioned that the progress in the implementation of a tax system across the country through the Goods and Services Tax (GST) will be the biggest achievement of the Modi Government. According to Assocham, the other achievements that the NDA government has achieved during the three-year tenure included in the economic area assimilating public inclusion on a financial scale, digitisation and infrastructures like railway and power distribution.

Goods and Services Tax (GST) can bring huge discounts before its introduction impelling the mobile manufacturers and retailers to remove their old stock from July 1. With the introduction of GST, the price of mobile handsets can be increased due to tax factors. It is speculated that some handset brands can offer discounts on both online and offline basis along with retailers who would cut some of the prices.

Telecom industry falls under the category of 18 percent slab rate under Goods and Service Tax (GST) and it disappoints the industry very badly.

GST Service tax rates are also into the pipeline and slowly they are coming into the announcement. The GST council has finalized the service tax rates on the 2nd day of its 14th meeting at Srinagar. It is worthy to notice that the education and healthcare sectors have been exempted from the service tax of GST.

Talking about the hotel industry and their individual tariffs, the Hotels with tariff falling in between Rs 2,500 to Rs 5,000 will be levied GST of 18 per cent, whereas hotels with tariff of above Rs 5,000 will come under 28 per cent tax slab. And after which, hotels with tariff under Rs 1,000 are exempted from the GST scheme.

The central government finally made decisions over the long discussing GST rates in its 14th meeting in Srinagar headed by union finance minister Arun Jaitley along with finance ministers of states. The announcement mentioned that consumer goods for daily consumptions like the pulses, food grains will be cheaper while the Finance Minister Arun Jaitley cleared that GST rates have been fixed for the rest of the total of 1,211 items except for six items due in procedure.