GST rollout to benefit most States, CEA tells legislators

Archit Gupta CEO & Founder Cleartax speaks on GST

Archit Gupta CEO & Founder Cleartax speaks on GST

"Liquor and real estate lobbies have succeeded to intervene in the GST".

Mr. Sisodia had raised concerns over the two sectors being left out of GST, saying that it might have been done to benefit "influential" businessmen.

The GST Council, headed by Union Finance Minister Arun Jaitley and comprising State counterparts, has already decided on fitment of over 1,200 commodities and 500 services in various tax slabs.

The platform "GST solution" has the capability to support users to file all their transactions as per the new tax norms in a convenient manner and also reduce the invoice reconciliation requirements of large companies, added the company.

Subramanian also explained to the legislators about the GST standard rates and also about the compensation provisions to states in case it suffer any loss due to implementation.

United Kingdom police arrest 2 more bomb suspects, raising total to 11
Latest figures from NHS England show that 63 people injured in the blast are being treated in hospital with 20 in critical care. She continued, "The only thing we can do now is choose how we let this affect us and how we live our lives from here on out".

Aerated drinks and consumer durables like TV, AC, washing machines and refrigerators will cost more, while smartphones, small cars and daily use items will turn cheaper when the GST is implemented from July.

Under the GST regime, five-star restaurants will see an increase in tax incidence, while the levy on non-AC restaurants may come down marginally.

The chief minister told the media that it was the previous Congress-led United Progressive Alliance (UPA) government that conceived the GST Bill. "The power is with you, but I completely agree on this issue in-principle", Subramanian said.

With the GST, multiple layers of taxation will be eliminated, production at both national and worldwide level will receive a boost, cost of production will be cut, goods and services will become cheaper besides the state will be able to earn more revenue, he said. "Therefore, impact on the prices of commodities will have to be drawn after calculating advantages of input tax credit", CAIT said.

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