GST recommendations will benefit people, strengthen tax structure: Modi

GST recommendations will benefit people, strengthen tax structure: Modi

The 23rd meeting of the Goods and Services Tax (GST) is now underway and is being chaired by Union Finance minister Arun Jaitley.

"There were 227 Items with 28% on GST slab, The fitment committee had recommended 62 items to cut, But the GST Council has further included 12 more items", Sushil Modi said.

The council is also expected to slash tax rates on various goods of common consumption such as handmade furniture, shampoo, sanitary ware, plywood, stationery articles, and play instruments, among others.

The senior Congress Party leader took to twitter and said "Expect a shower of changes in GST rates from GST Council meeting today".

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The panel headed by Assam Finance Minister had also suggested that eating out at hotels that have room tariff of more than Rs. 7,500 should attract a uniform 18 per cent rate instead of any separate category for 5-star hotel, which now falls under the 28 per cent bracket. It has proposed a uniform tax rate of 12 per cent. Value Added Tax (VAT) will continue to be charged for alcohol, which does not fall under GST.

"When GST rate is capped at 18 per cent, this government would have learnt its lesson belatedly". The Delhi Hotel and Restaurant Owner's Association president, Sandeep Khandelwal, welcomed the lower tax rates and said this would incentivise people to pay taxes.

The GST Council has been meeting every month since the new indirect tax regime was introduced on July 1, 2017. "But the PM Modi-led government at the Centre has imposed the Gabbar Singh Tax", Rahul Gandhi said at an election rally in poll bound Gujarat. "Besides, tax rate on 6 items have been lowered to zero from 5 per cent", Jaitley said, adding that detergent, marble floorings, toiletries among mass use items have been shifted to 18 per cent tax bracket from 28 per cent. "Why is electricity and petrol kept out of GST?" he said.

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