21st GST Council Meeting Tomorrow to Fix Tax Anomalies, Cess hike on Cars
The 21st meeting of the Goods and Services Tax (GST) Council to be held at Hyderabad may decide the issues on tax anomalies, hike of cess on Cars etc., tomorrow. The most powerful body under the new indirect tax regime may also take up IT related issues in the GST network which has faced glitches. The Council is also likely to consider lowering tax rates on over two dozen products,...
The 21st meeting of the Goods and Services Tax (GST) Council to be held at Hyderabad may decide the issues on tax anomalies, hike of cess on Cars etc., tomorrow.
The most powerful body under the new indirect tax regime may also take up IT related issues in the GST network which has faced glitches.
The Council is also likely to consider lowering tax rates on over two dozen products, including idli/dosa batter, dried tamarind, custard powder and kitchen gas lighter after anomalies in their fixations were pointed out, officials said.
It will also formulate a mechanism to deal with businesses that are deregistering their brands to avoid taxes after the rollout of Goods and Services Tax from July 1.
Unbranded food items are exempted from GST, whereas branded and packaged food items attract 5 per cent rate. Hence, many businesses are deregistering their brands to avoid the levy.
During the meeting, the Council would discuss the issue of lowering tax structure on public projects and also on the beedi and Granite industry as requested earlier by the Telangana Government.
