The GST Council on Friday discussed to giving up to Rs 100 incentive for digital payments for purchases by consumers, approved a new model for single monthly return and decided to turn the GSTN into a government-owned entity.<\/p>\n
Most member states on the GST Council panel were agreeable to the proposal of giving a concession of 2% in GST rate (where the tax rate is 3% or more) on business-to-consumer (B2C) supplies, for which payment is made through cheque or digital mode, subject to a ceiling of Rs 100 per transaction, so as to incentivise promotion of digital payments.<\/p>\n
But since some states wanted a small negative list, the issue will be referred to a five-member group of state finance ministers, Jaitley said.<\/p>\n
A separate group of ministers would go into the issue of levy of cess on sugar and reduction of GST on ethanol.<\/p>\n
While the cost of sugar production is over Rs 35 per kg, the market price is around Rs 26-28 a kg, he said, adding cane growers are in deep distress and a proposal to levy a cess was made to help them.<\/p>\n
Now since this (suggestion has been made) after the GST has been implemented,\u201d he said, referring to GST roll-out from July 1 last year where a cess on top of GST rate was imposed only on luxury and demerit goods like cigarettes and high-end cars to make up a kitty to compensate states for their losses due to implementation of the new tax regime.<\/p>\n","protected":false},"excerpt":{"rendered":"
The GST Council on Friday discussed to giving up to Rs 100 incentive for digital payments for purchases by consumers, approved a new model for single monthly return and decided to turn the GSTN into a government-owned entity. Most member states on the GST Council panel were agreeable to the proposal of giving a concession […]<\/p>\n","protected":false},"author":1,"featured_media":30210,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-30209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/30209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=30209"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/30209\/revisions"}],"predecessor-version":[{"id":30211,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/30209\/revisions\/30211"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/30210"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=30209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=30209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=30209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}