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Principale » GST will help bring down inflation by 2 % : Revenue Secy

GST will help bring down inflation by 2 % : Revenue Secy

11 Juillet 2017

He said, the government is also organising master classes on GST to educate the people about various aspects of the new tax regime.

Earlier, on July 2, Union Food and Processing Minister Harsimrat Kaur Badal had urged Finance Minister Arun Jaitley to exempt all purchases made by the Shiromani Gurdwara Parbandhak Committee (SGPC) for "langar sewa" or service at the community kitchen, under the GST. So happens for the 18 per cent GST rate, which is split at 9 per cent Central GST and 9 per cent State GST.

"Therefore, 12 percent GST rate had been provided for sanitary napkin", it said.

Food served at restaurants attract tax at two rates under GST - 12 per cent and 18 per cent - depending on whether it is an AC restaurant or whether the restaurant has the licence to serve alcohol.

What is unfortunate, in this context, is the attempt by a few states to try and subvert the GST process by coming up with new taxes. The concerns of traders are usually related to the GST rates of various items and procedural enquiries regarding filling of the returns, while the concerns of the consumers are related to over-pricing and lack of awareness related to change in the rates.

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It has also been clarified that restaurants up to an aggregate turnover of Rs 75 lakh that opt for the composition scheme will charge GST at the rate of 5 per cent. He said GST rates have been fixed so that it does not affect any section of the society adversely.

That for restaurants with no air-conditioning in any part thereof and serving liquor will be 12 per cent.

The Bombay High Court today dismissed a public interest litigation seeking deferment of the implementation of the Goods and Services Tax (GST).

In a majority of supplies of goods, the tax incidence approved by the GST Council is much lower than the present combined indirect tax rates levied [on account of central excise duty rates/embedded central excise duty rates/service tax post-clearance embedding, VAT rates or weighted average VAT rates, cascading of VAT over excise duty and tax incidence on account of CST, Octroi, Entry Tax] by the Centre and State (s). The rates can also be accessed on the tax department's website.

GST will help bring down inflation by 2 % : Revenue Secy