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Friday, December 4, 2015

Today's Report on the GST, Rates Dilemma

Today's Report on the GST, Rates Dilemma...

Under the Goods and Services Tax GST tax rates will do, the committee was to submit its findings this evening. According to sources, the normal rates of 18 per cent of the GST may be called the revenue neutral rate. In addition there will be three different rates.

Discounted rates will be included in the GST. Discounted rates will have a different slabs and the rates will be applied to sectors such as gems and jewelery. GST will also be included in the minimum rates, ie the lower rate. Lowest Rates cereals, food products, such as products and services will be needed. The higher rates in the GST rate or the top can also be incorporated. Rates may be higher for cigarettes and luxury trains.

However, some worry about the GST rates are also coming out in front. As for the petroleum sector initially the GST rate will not apply, such as the input tax credit may have trouble meeting. The introduction of excise duty concessions on the particular sector continued to be questioned. Just excise duty concessions in areas like Himachal Pradesh and Uttarakhand provision.

GST in the infrastructure sector is concerned. After receiving GST concessions Infra sector will continue or not, it is the question. The latter, in many cases, the port sector is Pravdna exemption from service tax. Road construction in many cases provides for exemption from service tax. After the implementation of the GST in the mining sector will continue to discount or not, are to be questioned about it.

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