Latest News
-
Heavy Rains Lead to Cancellation of Flights from India to Dubai -
1:2 Stock Split: Record Date On April 24; Buy The Scrip Now To Be Eligible? -
3:1 Bonus Shares: Record Date In 3 Days On 20th April; Buy The Pharma Stock? -
Global Economy Faces 19% Income Reduction by 2049 Owing to Climate Change -
How To Get Pre-Approved Loans At SBI? All You Need Is Four Clicks! -
How To Pick Up The Right Index Funds For Your Portfolio? -
Senate Examines Boeing's Safety Failures in Back-to-Back Hearings -
Apple Joins Forces with Cleanmax for Solar Energy Projects in India -
Ford Recalls 456K Bronco Sport and Maverick Cars Over Drive Power Loss -
Heavy Rains in Dubai Lead to Flight Disruptions, Air India Cancels Services
GST Council Headed By Arun Jaitley To Decide Tax Rates Today in Srinagar
GST council meet in Srinagar shall decide on the GST rates for different goods and services.
The Goods and Service Tax (GST) Council headed by Finance Minster Arun Jaitley is scheduled to meet in Srinagar today and deliberate on the tax rates for commodities as well as services. The meeting shall be held at the Sher-i-Kashmir International Conference Centre with Finance Ministers of all the 32 states and Union Territories attending it.
This is the 14th meet of the GST council and will discuss and decide on the tax rates on the different goods and services that have a direct impact on the public at large.
GST shall be a national sales tax that will apply on consumption of goods or utilization of services. The new tax regime shall do away with tariff barriers across states and unify whole of India economically.
GST slated to be rolled out from July 1 is the biggest taxation reform in the history of Indian economy. 4 slab rates of 5%, 12%, 18% and 28% have already been decided upon and now the council shall decide the rates that shall apply to different goods and services.
The decision in respect of the GST tax rates shall be taken in a manner such that its effect on revenue stream for the government as well as inflation is near neutral.
Greater Kashmir is quoted in one of the reports saying "This is the first time when such a major policy decision would be taken in Srinagar in past six decades".
GoodReturns.in
