Diabytes
GST tax structure News
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If you feel that restaurants are overcharging you despite GST rate cut, you can flag your grievances on several platforms.
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However, the diversity of GST rates in India will bring "distortions and cheating", said the French economist.
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In January-June, the domestic sales figure for the automaker stood at 2,53,428 units, up 4.1 percent from 2,43,442 in the year-ago period.
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GST Council meeting held on Friday has turned out to be inconclusive.
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A zero tax on daily necessities as well as lower rate of 5 percent for items of mass consumption will make the new Goods and Services Tax regime, to be rolled out from April next year, less regressive, tax experts said.
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A four-tier GST tax structure of 5, 12, 18 and 28 percent that aims to lower tax incidence on most goods and keep out essential items was decided by a high-powered council on Thursday -- a major breakthrough for rollout of the Goods and Services Tax regime from April 1 next year.
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The decision of the GST council to keep the tax rate on items of mass consumption pegged at 5 percent will help in softening of inflation by bringing down prices said chief economic advisor Arvind Subramanian on Thursday.
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