Meeting Council for Commodities and Services Meeting: The press for the opposition to the protection of revenues, the interest of consumers, for example the sources

At the 56th meeting of the Commodity and Services Tax Council, the countries that the opposition have requested measures to protect revenue and consumer guarantees, according to sources from the inside. The proposed GST renewal, which aims to simplify the tax structure, can lead to two categories, 5 % and 18 %, to decrease the prices of basic commodities and electronics, with higher taxes imposed on luxury elements.

These states emphasized the importance of ensuring that low companies are not exploited from goods and services tax for profit, while insisting that any benefits should directly benefit consumers. They are also defending a transparent compensation plan to prevent significant revenue from the states. Also, some countries governed by the Bharatia Gata Party have raised concerns about possible losses due to the revised tax panels.

The 56th meeting of the Commodity and Services Tax Council, chaired by Finance Minister Nermalla Sitramman, including state ministers, started discussions on “GST from the next generation”, with a focus on reducing tax rates for basic commodities, eliminating the reflection of duty in sectors such as textiles, and compliance burdens of the track office.

The Council will circulate a proposal to simplify the structure of the commodity and services tax rate over the next two days. The plan includes combining the panels into only two: 5 percent and 18 percent, with the aim of eliminating 12 percent and 28 percent panels. In addition, a special tax is considering 40 percent for some elements such as tobacco and super luxury goods.

According to the proposed changes, about 99 percent of the elements that are currently imposed by taxes are currently 12 percent, including butter, fruit juices and dry fruits, to the tax segment by 5 percent. Moreover, approximately 90 percent of the elements currently in the 28 percent category, such as electronic elements such as ACS, TVs, refrigerators, washing machines and commodities such as cement, will witness a reduction to a 18 percent tax plate.

Finance Minister Andra Pradesh Bayfola Kishaf stated that his mandate supports the center’s proposal to rationalize the rate of commodity and services tax as part of the alliance with the NDA government led by the Bharatia Gata Party. Keshav emphasized the benefits of the average man’s proposal during a meeting with journalists before the council meeting. After Prime Minister Narendra Modi announced the plan to reform commodity and services tax in Independence Day speech, the central government shared the reform plan with a group of ministers (GOM) from various states for the initial review.

According to the center’s plan for commodity and services tax repairs, a variety of sectors, including textiles, fertilizers, renewable energy, cars, handicrafts, agriculture, health and insurance significantly will benefit from repairing the last rate. Before meeting the council, eight states governed by opposition parties, which are Himachal Pradesh, Jahrakand, Carnataka, Kerala, Punjab, Tamil Nadu, Tillanga and West Bengal, in their own meeting of their strategy and strategy to request the protection of revenue before supporting price amendment.