The Finance Ministry has notified the concessional rate of GST that will be applicable on COVID relief materials till September 30, 2021.
Industry body India Cellular and Electronics Association (ICEA) has renewed its demand for reducing Goods and Services Tax (GST) for the mobile industry ahead of the Union Budget to be presented on February 1.
The study would include the underlying reasons for deviation from revenue collection targets vis-a-vis original assumptions discussed during the design of the GST system, its implementation and related structural issues, he said.
The council also decided to exempt sanitary napkins from the ambit of the Goods and Services Tax, or the GST.
The Centre may dole out incentives to promote electric vehicles in the country by considering lower GST and extending tax benefit for buyers in this week's Budget for 2018-19, say sources.
Jaitley further said the stabilisation of the GST structure offered the government an opportunity to increase its base and rationalise its structure as it continued to evolve.
GST Council today approved rate changes of 29 goods and 53 categories of services. The revised rates will be applicable from January 25, the finance minister said.
With all but 50 items removed from the highest GST rate slab, collections in October fell to Rs 83,346 crore from over Rs 92,000 crore in September, official data showed on Monday.
The GST Council recently reduced the tax rate on 178 items from 28 percent to 18 percent and also brought all AC and non-AC restaurants in the five percent GST bracket without the Input Tax Credit (ITC).
The GST Council, chaired by Union Finance Minister Arun Jaitley and comprising his state counterparts, had last week lowered tax rates on over 200 items.
He also reiterated that India needed a simple tax and not the "Gabbar Singh Tax" as he had been describing the tax regime to target the Modi government.
The Council, headed by FM Arun Jaitley, is scheduled to meet on November 10 to consider lowering of the 28 per cent GST rate on certain common use items, government officials said.
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