Goods & Services Tax (GST) Updates

[Sushubh]

Source


Looks like it's happening!

 

[SVK]

Read in newspaper 2-3 days back that GST may increase Service tax up to 17-18% 😱

 

[Sushubh]

Ab ki baar... Aapkee baar baar lenge sarkar.

 

[Pankaj Singhal]

VAT will go away, net it should be beneficial to the people

 

[amish]

And bill is passed in Rajya Sabha!

Tax on necessary items (eg. textile) will increase from 5% to 18%

Tax on not-so-necessary (eg. cars) will decrease from 30% to 18%

Overall tax would increase on end-user.

 

[Sushubh]

We would soon find out that GST is going to be an abhishap like DTH on the consumers 😀

 

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[amish]

That 1% that they decreased to get congress support will also be added next year! 😀

(Because that time it wont require 3/4th majority just cabinet approval wud be enough)

PS: Sensex would JUMP tomorrow like 400-500 points! (crazy people)

 

[Sushubh]

So service tax on telecom bills etc would now be 18% instead of 15%?

 

[amish]

Yes. Household items will be costly too.

Clothes wud be costly too.

 

[s.ricky]

Good bless India!

 

[Ras Al Ghul]

How are people talking about the tax rate when the rate is not decided yet?What is decided is the maximum rate that can be levied under GST which is around 18-20%.

The exact rates will be decided by GST council but tax rates cant go beyond the max cap.

People trying to push agendas as always.

@Ouch

 

[Sushubh]

Source


the speech is cut prematurely so there's that.

 

[amish]

Wow where is original version?

Its cut in between too .. Two statements are merged

 

[amish]

Right all done in 2yrs. Congress took 60yrs and wud have not done in another 60 yrs.

 

[Sushubh]

Assam becomes first state to pass GST Bill