- Five key projects of GMDA worth Rs 194.18 crore approved
- EU slaps $2 billion anti-trust fine on Apple following Spotify's complaint
- Momentum in power, capital goods stocks as infra projects likely to be unveiled, say analysts
- Santosh Trophy: Services hand Railways a 2-0 defeat to march into semifinals
- Ola's S1 Pro electric scooter gets PLI certification to boost green mobility
- Ranji Trophy: Big win over Tamil Nadu takes Mumbai into final for 48th time
- Sinead O'Connor's slams Trump for using singer's best-selling single at rallies
- Tata Motors to demerge business into two separate listed companies
- Interoperable payment system for Net banking to be launched this year: RBI chief
- Cash-for-query row: Delhi HC rejects interim injunction against 'defamatory' posts on Mahua Moitra
Sub-committees to resolve problems in post-GST era: Nirmala Sitharaman
Union Minister of state for commerce and industry Nirmala Sitharaman said on Saturday that sub-committees have been formed by Goods and Services Tax Council (GSTC) to look into the issues that are likely to come out after implementation of the GST across the country.
Vijayawada: Union Minister of state for commerce and industry Nirmala Sitharaman said on Saturday that sub-committees have been formed by Goods and Services Tax Council (GSTC) to look into the issues that are likely to come out after implementation of the GST across the country.
She said the central government, state governments and union territories reached a consensus before implementing the GST on July 1.
She said the GSTC is a constitutionally formed body and is taking measures to resolve the problems that arise in the post-GST era which began on July 1.
Nirmala Sitharaman visited Vijayawada to participate in the Interactive session on GST in a hotel. Andhra Chamber of Commerce and Industry arranged the session to create awareness on the GST. Addressing media persons on the occasion, Sitharaman has made it clear that the Central Government can’t take unilateral decisions on implementation of GST.
She said 29 states and seven Union territories are the members of the GST Council. She said sub-committees have been formed by Central Government to look into important issues and subjects like textiles, industries, entertainment, tourism, hospitality, medical and health etc.
She said the all finance ministers of the States and Union territories can’t attend the meetings of the GSTC meetings regularly. She said keeping in view of the problems that will surface in the post GST era, the Government had formed sub-committees and these committees will address the problems faced by different sectors.
Referring to agitation of Tamil film industry against the GST, she said the Tamil Nadu government is levying 30 per cent tax in addition to the 28 percent GST, which is jointly collected by state and central governments.
She said Tamil Nadu Government had decided to collect additional tax on non local films in addition to the GST. She said GST will be very useful to the consumers because the latter get clear information about the taxes and whom they are paying to.
She said earlier, there was no transparency in the tax system and added that taxes have now been divided into five slabs, 0,5,12,18 and 28 per cent. Asked why liquor and petrol are exempted from GST, she said states and centre have not reached a consensus on the issue. MPs Gokaraju Gangaraju, former MP Kavuri Sambasiva Rao, health minister Dr Kamineni Srinivas and others were present.