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Narendra Modi said that the process of simplifying the GST (Goods and Services Tax) is going on and the government wants to bring the 99% items to the 18% slab.
GST rate rationalization will be the prime agenda for the 31st GST Council meeting on December 22nd. The Saturday’s meeting might witness 28 percent GST rate on computer screens and power banks slashed to 18 percent.
According to a survey by All India Manufacturers’ Organisation (AIMO), it was found that the economy has a reason for slower growth and it was found that demonetization & GST are among them.
The number of petitions being filed against the various clauses of the earlier launched goods and services tax (GST) system in the different courts is only increasing with each day.
After implementation of GST, approx. Rs 320 are saved every month by an average Indian household on the purchase of the daily household goods like edible oil, cosmetics and cereals said a finance ministry source mentioning the survey of consumer expenditure data.
The GST Council will most probably bring down the 28% rate in its upcoming meeting by reducing the GST rate on construction items like – cement.
The Cess may get increased on the cars by the GST Council to organize the resources for giving the subsidy to the EVs. This scheme is made to promote green energy sources and minimize the use of crude oil.
A major point of discussion on Times Network’s annual flagship event — India Economic Conclave 2018 was PM Narendra Modi’s flagship the ‘Ayushman Bharat Scheme’. Akrita Reyar, Chief Editor (Digital), Times Network caught up with Apollo Hospitals MD Suneeta Reddy at the event to know the laters take at the health insurance scheme and also the future needs of India’s abysmal healthcare sector.
As the Telecom Industry reels under the pricing war for more than two straight years now, the demand for streamlining GST issues is getting stronger with each passing day.
