Join What's App Group for Pharma Jobs

GST Panel might increase rates to boost revenue

  1. It has been suggested by GST panel to increase GST rate.
  2. It is expected to increase revenue by approximately ₹1000 crore per month.
  3. At present, the GST structure is as follows :
  4. The decision of restructuring might be taken in this month itself, after GST COUNCIL meeting.
  5. Auto sector is currently not a part of this restructure as it’s not expected to provide significant gain.
  6. Restructuring might bring exempted goods into ambit of tax. It is expected to bring change as below.
  7. With inflation to be kept in mind, actual increase in price will not be seem too much for common people.
  8. It is expected that “zero rate” tax products might not be touched.
  9. Only lower rate products will be increased so as to increase revenue.
  10. PROPOSED changes are expected to come by next week.
  11. It is expected to bring all the necessary changes to increase revenue and to bring two rate structure.
Author: Niranjan Reddy

Leave a Reply