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GST panel puts off rate decision to November

Goods and Services Tax - GST - Dated:- 20-10-2016 - Centre and states yesterday failed to decide the tax rate under the new GST regime even though they converged towards a consensus on levying a cess in addition to the highest rate of tax on luxury a .....

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₹ 1.5 crore - an issue which was settled in the first meeting of the GST Council. The proposed cess on luxury and sin goods like tobacco, cigarettes and alcohol would be used to compensate states for any loss of revenue they may suffer from imp .....

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-nation, one-tax. A four-slab tax structure of 6, 12, 18 and 26 per cent with lower tariff for essential items and the highest bracket for luxury and sin goods also found favour with them but a decision was put off to the next meeting on November 3-4 .....

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ery high tax in order to keep that slab low - that is not appropriate. So the effort will be to fit the taxpayer in the closest GST tax bracket which he is paying now, he said. The GST Council meeting, which was originally scheduled for three days, e .....

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