GST Council working towards reducing tax rates: MoS Finance

GST Council working towards reducing tax rates: MoS Finance

The GST Council is working towards rationalising Goods and Service Tax (GST) rates,GST Council: sp shukla Minister of State for Finance Shiv Pratap Shukla said on Thursday.

A big announcement from the government regarding GST is imminent, he said at an event.

Currently, the GST has four rates of 5 per cent, 12 per cent, 18 per cent and 28 per cent.

The all powerful GST Council had, in its meeting in January, decided to slash the GST rate on 54 services and 29 items.

In its November 2017 meeting, the council had removed 178 items from the highest 28 per cent category while cutting tax on all restaurants outside starred-hotels to 5 per cent.

He further said the government is working to promote the growth of SME as it is an important sector to the economy including in output, employment and exports.

XaTTaX: Your automated E-Way bill compliance is just a click away!

Source: Business Today

One thought on “GST Council working towards reducing tax rates: MoS Finance

  1. In all government/ semi government departments/Public undertaking departments lot of harassment is going on for settlement of running account bills, final bills for works executed for which the contracts are signed before implementation of GST n which are going on after GST implementation. Even after completion of one year for implementation of GST the confusion is going on n no government departments/corporations are willing to finalize the issue n that way crores of Rs of capital of contractors is blocked n are really in very serious conditions. Though the GST is very good law government departments are not willing to implement this in simple n good manner, in fact it seems that these departments are willing to keep it pending just to harass the contractors

Leave a Reply

Your email address will not be published. Required fields are marked *