Health Care

21st GST Council meet in Hyderabad tomorrow

21st GST Council meet in Hyderabad tomorrow”

Auto buyers in the market for an SUV, a luxury auto or a mid-size vehicle will have to brace for a possible hike in price as the Goods And Services Tax (GST) council today increased the cess on certain category of passenger vehicles in its latest meeting.

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. A small auto is defined as a vehicle having length less than 4 meters, powered by either a petrol engine that is less than 1,200cc or a diesel engine of less than 1,500cc.

Following that an Ordinance to hike the cess rate has been promulgated and the GST Council will now look at the quantum of hike on such cars.

This extent of increase is less than the 10 percent additional cess proposed in early August, raising the cess applicable (15 percent) over and above the GST slab (28 percent) on luxury cars and SUVs and taking it from 43 to 53 percent.

"Cess on cars with seating capacity above 10 but up to 13 as well as hybrid cars will remain unchanged", he said.

Hike in GST cess on mid-size cars will be 2%.

Singh had not only welcomed GST as a progressive tax, but highlighted emphatically that it would tremendously benefit the debt-ridden state.

The state also sought reduction of GST rate from 18 per cent to 5 per cent on spare parts used in the textile machinery. Hence, many businesses are deregistering their brands to avoid the levy.

Tax on household items like dry tamarind, idli batter, roasted gram, custard powder, incense sticks (agarbathis), raincoats, rubber bands etc has been slashed. It extended the deadline for filing of returns.

In a statement, the ministers said the Centre had claimed a total GST collection of close to ₹92,000 crore for July.

More news: Ghani Off To Astana To Attend OIC Meeting

The council will also discuss demands for giving relief to branded agriculture produce from the 5% tax.

Jaitley said the portal did face technical glitches on two-three occasions due to overload. These are transient challenges and glitches in technology.

The GST council has also chose to form an inter-ministerial committee to continuously interact with GST Network to ensure smooth transformation.

Jaitley says 5 percent GST will have to be paid by firms having registered trademark on May 15, 2017 for commodities.

Artisans with turnover of up to Rs 20 lakh exempt from registration under GST.

Similar dispensation for certain categories of job work, excluding gold, has also been approved. While the pre-GST taxes on large cars came to around 51%, the new adjustment in the taxes will still be 4% lower that the pre-GST level at 48%.

To fix this anomaly, the council raised the cess. "For the rest, it will be October 10", he said.

Deadlines for filing GSTR 2 and GSTR 3 were also subsequently extended to September 25 and September 30, respectively.

"For GSTR-1,2,3, we are giving a long rope and we are staggering the return filing date for July", Adhia said.



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