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Monday
June 2018
10:28 PM IST
News Headlines
Fresh FIR filed against Nirav Modi for possessing multiple Indian passports        Nigeria: 31 people killed in twin suicide blasts        1 dead, 20 injured in New Jersey arts festival shooting        Mexico shock World Cup holders Germany        World Cup: Serbia edge out Costa Rica in Group E opener        Messi penalty saved as Iceland hold Argentina        Pakistan SC bars Musharraf from contesting election        FIFA World Cup 2018: Russia stun Saudi Arabia in opener, substitutes shine in 5-0 win        India vs Afghanistan, one-off Test: Afghanistan fight back as India reach 347-6 on Day 1        Four killed, 10 missing after landslide in Kerala        Railways drop coach factory project in Palakkad        Vajpayee better, hopeful of full recovery in next few days: AIIMS director        Congress wins Jayanagar assembly seat in Karnataka        N Korea no longer a nuclear threat: Trump        Former president Maldives and chief justice sentenced for obstruction of justice        Hafiz Saeed-backed MML can’t contest Pakistan elections        Afghanistan not nervous about Test clash with India, says skipper Asghar Stanikzai        Amelia Kerr slams 232* to break 21-year-old record in Women's ODIs        Alappuzha and Thiruvananthapuram offer models of decentralized waste management systems        Bhaiyyu Maharaj, Spiritual Guru To Top Politicians, Commits Suicide        
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Business News
GST Council meet begins in Hyderabad
 
(Hyderabad, Sep 9, 2017): The GST Council, headed by Finance Minister Arun Jaitley, is meeting here today to discuss the quantum of cess to be hiked on luxury and mid-size cars, among other issues.

Ahead of the meeting, Andhra Pradesh Finance Minister Y Ramakrishnudu said that he will highlight various demands that the state had made earlier.

"After the implementation of GST, as per our initial estimation, the state may see a short fall of Rs 2,900 crore in revenue," Ramakrishnudu told PTI.

"We also requested the council to take a lenient view on the tax slab with regard to ongoing government projects. As on today, projects worth about Rs 20,000 crore are under implementation," he said.

Echoing his views, Telangana Finance Minister E Rajender said the state seeks to bring down tax rate on 33 items.

Beedi, granite and handlooms are some of the items on which the state government wanted the tax rates to be reduced, he said.(PTI)

Telangana is a new state, and the burden of high tax on some of the state government projects may pose difficulties in terms of revised estimates and budgets, Rajender said.

The council is likely to take up fixing of tax anomalies on a number of common use items as well as the quantum of cess to be hiked on luxury and mid-size cars, officials told PTI.

The all powerful council, comprising state finance ministers, is 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.

As per the agenda, the council will confirm the minutes of 20th GST council meet held on August 5.

The council would also decide the date of the next meeting. This is the third meeting of the GST Council since the launch of the Goods and Services Tax on July 1, and the 21st since it was set up in September last year.

The council has over the past 10 months ironed out various contentious issues and decided on a four-tier tax structure of 5 per cent, 12 per cent, 18 per cent and 28 per cent.


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INTERNATIONAL NEWS
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