The GST difference of fare shall not be collected on the tickets booked in advance as the GST shall be applicable on tickets issued on or after July, 2017, said a senior Railway Ministry official.
West Bengal's ruling Trinamool Congress has announced boycott of the midnight GST roll-out event in Parliament.
The GST Council, in another move to give relief to farmers, also cut tax rate on exclusive parts of tractors from 28 per cent to 18 per cent.
While some goods and services will become a little more expensive, 81 per cent of items of daily usages have been kept under the 18 per cent tax rate. Overall, according to the government, the impact of the GST will be beneficial to everyone.
Banerjee's Trinamool Congress is boycotting the GST roll-out midnight event in Parliament.
Gadkari added that bringing petrol and diesel under the GST net would increase the revenue of the states and it was for them to decide if they wanted to move in that direction.
Anti-profiteering rules under the Goods and Services Tax provide for cancellation of registration of an entity or business if it fails to pass on the benefit of lower taxes or input tax credit to consumers in a commensurate manner
At the stroke of the midnight hour, India launched its ambitious pan-India indirect tax regime, the Goods and Services Tax (GST) to bind the country into a regime of 'one nation, one tax, one market'.
Besides subsuming several central and states taxes, it will help the government check inflation and create a friendly and hassle-free environment by easing the complex process to do business in the country.
Praful Patel criticised the Congress, TMC and Left for not attending the GST launch function saying, "All parties unanimously passed GST in Parliament. State governments of different parties approved the rates."
The present GST tax rates are divided into four slabs -- 5 per cent, 12 per cent, 18 per cent and 28 per cent -- as decided by the powerful GST Council headed by Union Finance Minister.
Big Bazaar's special shopping extravaganza will take place between 12:00 am and 2:00 am on June 30 and July 1
GST Rates: Here is how the new Goods and Services Tax (GST) will impact middle-class households.
GST will have a huge impact on Indian economy but its effect will be somewhat different for each sector.
Stage is set for the launch of a nationwide Goods and Services Tax (GST) at midnight on 30th June i.e. Friday amid protests from opposition parties.
Both Lok Sabha and Rajya Sabha MPs are also among the list of invitees. Besides, BJP chief Amit Shah, leaders from various political parties and state government representatives have also been invited for the event.
In May 2014, when the NDA government was voted to power, it started making efforts to make GST a reality. Jaitley had in February 2015 set April 2016 as the deadline for rolling out GST. It was later changed to July 1, 2017.
GST, being billed as the biggest tax reform since Independence, will subsume all indirect state and central levies, making India a single market.
The Goods and Services Tax (GST), touted as biggest reform in India since independence, will be launched at 12 am tonight at the Central Hall of Parliament.
Here are some of the major changes that Indian businesses will go through after GST comes into effect from July 1, 2017.
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