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.
Decreased margins due to increased GST (being absorbed by the companies) had a ripple-down effect in employee layoffs and a complete pause in hiring specialist skills such as technology, product, animation, and design.
She also said that in 10 years, the UPA was unable to achieve political consensus on GST.
For April 2024, the gross Goods and ServicesTax (GST) collections marked a remarkable 12.4 per cent year-on-year growth at Rs 2.10 trillion, the Finance Ministry said on Wednesday.
In recent days, an increasing number of GST notices have been sent to many companies mainly on account of alleged discrepancy in input tax credit (ITC).
Crosses Rs 20 lakh crore mark in FY24
