Additional tax exceeds 40 % on SIN/De Merit Suggested: West Bengal FM at Gom Meet

The Finance Minister of Western Bengal state, Chandraima Bhatera, said on Thursday that she proposed an additional tax of more than 40 % on sin and cleaning the prince under the new GST system. “Taxes must be imposed on sin commodities, which currently pay the tax and services tax beyond 40 % by proceeding to move forward as well.”

The government has announced plans to simplify the tax and services tax by moving to only two plates – 5 % and 18 % – for most goods, while luxury goods and “sin” will attract a special rate of 40 %. The new structure is likely to be performed by Diwali.

A decisive meeting of the GOM Group (GOM) is currently taking place for state financing ministers regarding the rationalization of the commodity and services tax rate. GOM consisting of six members, headed by Deputy Prime Minister Samarat Chuoderi, reviews the center’s proposal to reduce the tax panels to only 5 % and 18 %, and its recommendations will be sent to the Commodity and Services Tax Board.

Among the members of GOM, Minister of Finance in the state of Uttar Pradesh Sorech Kumar Khana, Minister of Health in Rajstistan State, Jagindra Singh, Minister of Finance in Western Bengal State, Chandria Bhatershara, Carnatac Revhenie Krishna Bir Goda and Minister of Kerala, be in Al -Khabal.

Speaking on the sidelines of the meeting, Chaudhry said: “All members put their word on Gom at today’s meeting. We discussed the center’s proposal for the 2-Slab system, ending the panels by 12 % and 28 %. We have noticed the center’s proposal. The GST council will make the final decision on this.”

Finance Minister Sorich Khanna welcomed the center’s decision, saying that he would benefit the average man. “This decision will lead to the relief of the average man,” he said. “

Finance Minister Nermalla Sitramman said on Wednesday to a group of ministers (GOMS) that the rationalization of a rate would lead to the relief of the ordinary man, farmers, the middle class and bloody modes, with the creation of a simplified, transparent and directed GST frame.

Later in the day, Gom on Insurance met to discuss the center’s proposal to exempt the goods and services tax on health and life insurance premiums for individuals. Although this step can lead to a loss of revenues of about 9,700 rupees annually, most states supported them. They also emphasized the need for a mechanism to ensure that the tax reduction benefits the documentary holders directly.

On Thursday, GOM is scheduled to rationalize prices on the center’s plan to classify goods and services into two categories – “merit” and “standard” – by 5 % and 18 %, respectively. In addition, a special rate of 40 % was proposed to 5-7 “sin commodities”.

The proposal also seeks to eliminate 12 % and 28 % panels. According to the plan, it will move approximately 99 % of the elements under a 12 % arc to 5 %, while about 90 % of the taxable 28 % will turn into a 18 % board.