GST Relief

EV Committee chair points out that while EVs are taxed at 5%, batteries and charging services face an 18% GST rate

Classification of items for GST rates was done on the basis of harmonised system of nomenclature codes. The codes contain 21 sections. These are divided into 99 chapters, which have 1,244 headings

The government is expected to announce a national retail trade policy and an accident insurance scheme soon with a view to supporting GST-registered domestic traders, an official said. The official said the proposed policy would help provide better infrastructure and more credit to the traders. It may include provisions related to ensuring easy and quick access to affordable credit, facilitating modernization and digitisation of retail trade; modern infrastructural support for subjects like distribution chain; promotion of skill development and improving labour productivity, and providing an effective consultative and grievance redressal mechanism. India is the world's fifth-largest global destination in the retail space. The commerce and industry ministry along with the department of financial services is also working on framing an insurance scheme for all the GST-registered retail traders. "The government is trying to do policy changes not only in e-commerce but is also bringing

The overall sentiment towards the cement stocks has remained lacklustre amid a gradual decline in their share prices, and a reduction in GST could help to lift this sentiment.

An outpatient will be charged GST for medicines and consumables bought that were prescribed in the course of providing health care services

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The rationalisation of late fees for delayed filing of monthly GST returns will give relief to small businesses and add to the government revenue, according to tax experts

It will also maintain liquidity so that govt borrowing doesn't push yields up

Central Board of Excise and Customs Chairperson Vanaja N Sarna said exporters had made errors while filing refund claims. The payments solution the authorities are mulling is an e-wallet