English

Select Language

हिंदी

  • Latest
  • National
  • World
  • Politics
  • Business
  • Entertainment
  • Education
  • Technology
  • Sports
  • Health
  • Lifestyle
  • Fashion
  • Crime
  • The Arts
  • Latest
  • Viral
  • Breaking
  • Web Story
  • Photos
  • Videos
  • Opinion
  • Home
  • National
  • Change in GST Slab? Council may remove 5% rate, new slabs may come for some products...

Change in GST Slab? Council may remove 5% rate, new slabs may come for some products

At present, there are four tax slabs of 5, 12, 18, and 28 percent in GST, and now the proposal to abolish the tax slab of five percent can be considered in the meeting of the Goods and Services Tax (GST) Council next month.

  • By TNB Bureau
  • - Apr 17, 2022 12:16 PM
  • Share:
Change in GST Slab? Council may remove 5% rate, new slabs may come for some products

The proposal to abolish the tax slab of five percent can be considered in the meeting of the Goods and Services Tax (GST) Council next month. Given this information, sources said that in its place some high consumption products can be put in the slab of three percent and the rest in the slab of eight percent. Most of the states are unanimous in increasing the revenue so that they do not have to depend on the Center for compensation.

At present, there are four tax slabs of 5, 12, 18, and 28 percent in GST. In addition, gold and gold ornaments attract a tax of three percent. Apart from this, there are some unbranded (unbranded) and unpacked (unpacked) products that do not attract GST. Sources said that in order to increase revenue, the council may decide to cut the list of exempted items by bringing some non-food items into the three percent slab.

Sources said that discussions are on to increase the five percent slab to 7 or 8 or 9 percent. The final decision on this will be taken by the GST Council. The GST Council headed by the Union Finance Minister includes the Finance Ministers of all the states.

The police team has obtained several video footage of the area. Some of these people have also been identified. Officials say that the culprits will be dealt with strictly. Delhi Police has constituted 10 teams to investigate the riots. The investigation of the case has been handed over to the Crime Branch.

As per calculations, every one percent increase in the five percent slab (which mainly includes packaged food items) will result in additional revenue of roughly Rs 50,000 crore annually. While various options are being considered, the council is expected to agree on eight percent GST for most items. At present, the rate of GST on these products is five percent.

For breaking news and live news updates, like us on Facebook or follow us on Twitter and Instagram. Read more on Latest National News on The National Bulletin

Subscribe to our YouTube Channel: Subscribe

Subscribe Our Newsletter

Most Popular

Bigg Boss 16 Winner: Winner Changed at the La...

  • By TNB Bureau
  • - Feb 13, 2023

Pulwama Attack Anniversary 14th Feb Messages ...

  • By TNB Bureau
  • - Feb 13, 2023

ANNOUNCEMENT - Last Date for Submission for c...

  • By TNB Bureau
  • - Feb 10, 2023

Rishabh Pant Share Latest Recovery Photos Aft...

  • By TNB Bureau
  • - Feb 10, 2023

Turkey and Syria Shaken by Strong Earthquake,...

  • By TNB Bureau
  • - Feb 06, 2023

Akshara Singh Viral Video: Another Kissing vi...

  • By TNB Bureau
  • - Feb 03, 2023

Latest News

  • Priyanka Chopra slips at Love Again premiere, reveals ‘paps ...
    • By TNB Bureau
    • - May 10, 2023
  • Rajasthan: ‘Used to feel lagged behind Gujarat,’ says Gehlot...
    • By TNB Bureau
    • - May 10, 2023
  • Go First Airline: Flights suspended till May 19...
    • By TNB Bureau
    • - May 10, 2023
  • The Elephant Whisperers couple felicitated by CSK...
    • By TNB Bureau
    • - May 10, 2023
  • View All

Videos

More Videos

find us on facebook

twitter feed

Tweets by TheNationalBul1
  • info@thenationalbulletin.in
  • www.thenationalbulletin.in
  • +91 8447-3246-93

recent post

  • Priyanka Chopra slips at Love Again premiere, reveals ‘paps ...
    • By TNB Bureau
    • - May 10, 2023
  • Rajasthan: ‘Used to feel lagged behind Gujarat,’ says Gehlot...
    • By TNB Bureau
    • - May 10, 2023
  • Go First Airline: Flights suspended till May 19...
    • By TNB Bureau
    • - May 10, 2023
  • The Elephant Whisperers couple felicitated by CSK...
    • By TNB Bureau
    • - May 10, 2023

quick links

  • About Us
  • National News
  • World Updates
  • Politics Update
  • Business Related
  • Entertainment
  • Education Related
  • Technology Updates
  • Sports Updates
  • Headlines
  • YouTube Videos

Subscribe Our Newsletter

Enter your email here

Stay Connected With Us

Book Your Ad

© NEWS TNB PVT. LTD.
By Designed With ITiansWeb 

Visitors : 1577171
  • Latest
  • Home
  • National
  • World
  • Politics
  • Business
  • Entertainment
  • Education
  • Technology
  • Sports
  • Health
  • Lifestyle
  • Fashion
  • Crime
  • The Arts
  • Breaking
  • Web Story
  • Photos
  • Videos

All right reserved by TheNationalBulletin By Designed With ITiansWeb