GST Council meeting today: Lease rates, a refund for exporters and extra cess on agenda: ET.
Dear all,
Your association SIMA is forwarding herewith an article published on the web portal of The Economic Times, dated 18/12/2019 regarding the GST Council meeting today: Lease rates, a refund for exporters and extra cess on agenda.
As per the Article, a boost for the real estate sector, rationalization of tax rates on lotteries, making refunds seamless for exporters — these topics are set to dominate Wednesday’s Goods and Services Tax (GST) Council meeting, according to people with knowledge of the matter and the agenda for the meeting.
The government is looking to balance revenue collections between states and the Centre besides ironing out problems faced by a few industries, the people said. The government is also contemplating a temporary cess of 2% on certain goods, especially those falling in the 5% and 18% slabs, to make up for the revenue shortfall.
The GST Council may clarify rates on long-term leases, exempting those of 30 years or more if provided by a state, or if the central government has a stake of at least 20%. If approved, this will benefit manufacturing, realty, and hospitality companies, experts said.....TO READ THE FULL ARTICLE PLEASE CLICK HERE.
Thanking you,
With regards,
For Silvassa Industries & Manufacturers Association
Narendra Trivedi
Secretary
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