This is a welcome step to reverse the economic slowdown
States' developmental expenditure has gone up from 40 per cent to 60 per cent. There is a huge burden on states
The council also decided to a withdraw a circular issued in June which prescribed that the additional discount given by a company to a dealer in certain cases will be liable for Goods and Services Tax
GST council meeting Live updates: All eyes are on GST council's meeting in Goa after the government announced slashing corporate taxes.
From GST Council meet to Vivo V17 Pro launch in India, here are some of the most important news events scheduled for today
The Committee also rejected the telecom ministry's proposal to reduce GST rate for telecom services from the present 18 per cent to 12 per cent, sources said
Centre will push for single rate; Kerala wants to retain current dual structure
There have been demands pouring in from various sectors from biscuits to automobiles and FMCG to hotels to reduce tax rates in the wake of perceived economic slowdown
Minister of State for finance, Anurag Thakur said the government has already come out with slew of measures to address challenges faced by the auto industry
Move will help sanction and process refunds faster; may boost exports
The government is examining a rate reduction for such vehicles by doing away with the cess, which will bring down the tax incidence from 43% to 28%
This was the second month in the current fiscal year that the collections could not hit the Rs 1-trillion mark, the first being June
Late last month, the GST Council had cut rates on EVs from 12% to 5%
The GST Council, chaired by the union finance minister, comprises finance ministers of all states
The recommendations of the officers committee is likely to be placed before the Council on July 25, officials said
It also slashed the Goods and Services Tax (GST) on EV chargers from 18% to 5%
The Commission will not consider their memorandums
EVs, chargers to be taxed at 5%, against 12% and 18% at present
The GST Council has also approved exemption from GST on hiring of electric buses by local authorities
The meeting, which was to be held through a video conferencing, had a single agenda to boost production of electric vehicles