Directed the officials that maximum attention be paid to cyber-security in IT systems linked to GST
All goods and services have been put in slabs of 5%, 12%, 18% and 28%
GST Council has done productive work, but more remains
IGST and compensation cess will be added to the value for charging EC and SHEC
Cost of a transaction is likely to increase under the new tax regime, say experts
The GST Council has finalised rates for almost all goods and services
He says GST compliance framework is very much of the 21st century, big, bold, next-generation
Livelihoods of more than 350,000 artisans and their families are at stake
Retailer can set-off rental cost against the input tax credit available for other goods & services
Bidi to be taxed at 28% without cess; all states on board for rollout of the tax regime from July 1
Mamata Banerjee had said her government would not support the new GST system in its present form
Synthetic will be passed off as cotton in blended fabrics for tax lower rate, say industry captains
An 18% rate has been slapped on biscuits below Rs 100 per kg, higher than the current 9-10 per cent
Complex tax issues, fewer concessions under GST could impact e-commerce firms in the country
Will decide rates of 6 items, including gold, footwear, textiles, agriculture equipment
Will decide rates of items like footwear, textiles, agriculture equipment, handloom and handicrafts
25-30% discount on TVs, washing machines, refrigerators and ACs expected
Under GST, tax paid on stock transfers is fully available as input tax credit
Govt described infrastructure bottlenecks, high transaction costs as domestic challenge for exports
Under GST, exporters and importers would have to pay the duty and then apply for refunds