GST Council to take up GST rate cut issue on two-wheelers, FM says
Finance Minister Nirmala Sitharaman on Tuesday said that the Goods and Services Tax (GST) Council will take up the industry’s proposal to reduce tax on two-wheelers, according to a press release issued by industry body Confederation of India Industries (CII)
Finance Minister Nirmala Sitharaman on Tuesday said that the Goods and Services Tax (GST) Council will take up the industry’s proposal to reduce tax on two-wheelers, according to a press release issued by industry body Confederation of India Industries (CII).
The assurance was given by the FM during a virtual meeting organised by the CII between her and the captains of the industry. She was responding to a question about the need for lowering GST rates on 2-wheelers.
Sitharaman assured that this was indeed a good suggestion as this category is neither a luxury nor a sin good and hence merits a rate revision, the release said quoting her.
The GST council meeting is scheduled to be held on 27 August.
See Zee Business Live TV Streaming Below:
On delayed payments by the government agencies, it was said that the Finance Ministry is taking periodic reviews to expedite the due payments to the industry, the release said. The FM also stressed that infrastructure sector played a key role in speeding up growth momentum, and the government will boost investments in this sector and will welcome external funds, too.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Gold and Silver rate today (May 7, 2024): Precious metals subdued; yellow metal above Rs 71,300; white metal above Rs 82,850
5 investment schemes that provide monthly pension to senior citizens fixed deposit fds savings scss guaranteed return atal pension yojana post office monthly income swps mutual fund
130% return in one year: Brokerage recommends buying this bank stock trading at Rs 131, know target price
09:35 PM IST