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LATEST NEWS UPDATES | No GST relief for automobiles

No GST relief for automobiles

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published Published on Sep 21, 2019   modified Modified on Sep 21, 2019
-The Hindu

Aadhaar link for registration proposed

Panaji: From October 1, taking the family for a holiday is set to become a more economical affair, but the consumption of energy drinks will become more expensive, following a marathon meeting of the Goods and Services Tax (GST) Council that lasted nearly nine hours on September 20.  

While the tax rates were tweaked up or down for several goods and services, the Council left the rates on products like automobiles and biscuits that had been clamouring for a rate rationalisation in view of falling sales.

Among many procedural changes, the Council arrived at an ‘in principle decision’ to link Aadhaar with registration of taxpayers under GST and examine the possibility of making Aadhar mandatory for claiming refunds.

To factor in the creation of Union Territories of Jammu and Kashmir as well as Ladakh, suitable amendments in the Central GST Act, the Union Territories’ GST Act, and the corresponding State GST Acts have also been approved, a Finance Ministry statement said after the meeting.  

“This was a long and productive meeting with many issues that had been awaiting resolution, having been resolved,” said Finance Minister Nirmala Sitharaman who chaired the Council meet that tweaked rates for several goods and services.  

The GST rate on hotel rooms with tariffs above Rs.7,500 per day, which is presently 28%, has been reduced to 18%, while the tax on rooms with a transaction value of Rs.1001 to Rs.7,500 per day will be 12%, down from 18% currently. Similarly, the rate on outdoor catering services in premises other than hotels with a daily tariff of ?7,501 or more, has been reduced from 18% at present (with input tax credits) to 5% without these credits.

Please click here to read more.

The Hindu, 20 September, 2019, https://www.thehindu.com/business/Economy/no-gst-relief-for-automobiles/article29471762.ece?homepage=true


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