Modi govt’s GST has put burden on poor: Gohil
Senior Congress leader Shaktisinh Gohil on Thursday said the Narendra Modi-led government’s complicated Goods and Services Tax (GST) has put an unbearable burden on the poor and common people.
Senior Congress leader Shaktisinh Gohil on Thursday said the Narendra Modi-led government’s complicated Goods and Services Tax (GST) has put an unbearable burden on the poor and common people.
The Congress on Thursday accused the BJP-led NDA government at the Centre of looting people by imposing the Goods and Services Tax (GST) even on essential items.
In the upcoming Union Budget, the gems and jewellery sector has urged the government for a reduction in goods and services tax (GST) to 1 per cent on revenue equivalence ratio to ease the cost burden on the industry.
Punjab Finance, Planning, Excise, and Taxation Minister Advocate Harpal Singh Cheema has said that the state has, for the first time, surpassed the Rs 30,000 crore mark in revenue collection from VAT, CST, GST, PSDT, and Excise within the first nine months of a fiscal year.
During its 55th meeting, the GST Council clarified that tax treatment for popcorn would depend on its flavour and the way it was sold; while popcorn sold loose will be taxed at 5 per cent, GST on popcorn will incre a se to 12 per cent if it was sold in packets under a brand name, while caramelised popcorn would be taxed at 18 per cent.
The Directorate General of GST Intelligence (DGGI) begun its nationwide drive against GST invoice frauds in November last year.
The government has notified the mandatory requirement of e-invoicing for B2B transactions for businesses with a turnover of over Rs 100 crore with effect from January 1, 2021.
GSTN is planning more features in this tool such as facility to import invoices from communication facility to GSTR 1, a statement said.
The Central Board of Indirect Taxes and Customs (CBIC) has clarified that such consultations with assessee, prior to issuance of show-cause notice (SCN) in case of demands of duty is above Rs 50 lakh (except for preventive/offence related SCNs), is mandatory and shall be done by the SCN-issuing authority.
Jharkhand, the only remaining state, has now communicated its acceptance of Option-1 given by the Centre.
