{"id":1169,"date":"2017-11-10T11:53:14","date_gmt":"2017-11-10T11:53:14","guid":{"rendered":"https:\/\/www.zaanews.in\/?p=1169"},"modified":"2018-11-02T11:53:34","modified_gmt":"2018-11-02T11:53:34","slug":"gst-council-meeting-tax-rate-cut-on-177-items","status":"publish","type":"post","link":"https:\/\/www.zaanews.in\/index.php\/2017\/11\/10\/gst-council-meeting-tax-rate-cut-on-177-items\/","title":{"rendered":"GST Council meeting: Tax rate cut on 177 items"},"content":{"rendered":"

Items of mass consumption such as detergent, shampoo, chocolates and beauty products will become cheaper, as the panel on Goods and Services Tax (GST) decided on Friday that only so-called sin goods should be taxed the most under the new multi-rate system.The GST Council recommended that the government prune by nearly three-quarters the number of items under the highest 28% slab, a move that should help ease the pressure the government faces over economic disruptions from the rollout of the new tax and last year\u2019s scrapping of high-value banknotes.<\/p>\n

The GST Council has already taken several measures to ease the compliance burden of small businesses. The next meeting of the council is expected to further liberalise the \u2018composition scheme,\u2019 a simplified tax payment plan for small businesses, and lower tax rates.<\/p>\n

\"\"<\/a><\/p>\n

Responding to those concerns, the federal indirect tax body, the GST council, lowered the rates on 27 items and announced a slew of rule changes, such as quarterly filing of returns for businesses with sales of up to Rs 1.5 crore.<\/p>\n

India has about 56 million small and medium-sized firms that account for some 110 million jobs in the country, official data show.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Items of mass consumption such as detergent, shampoo, chocolates and beauty products will become cheaper, as the panel on Goods and Services Tax (GST) decided on Friday that only so-called sin goods should be taxed the most under the new multi-rate system.The GST Council recommended that the government prune by nearly three-quarters the number of …<\/p>\n","protected":false},"author":1,"featured_media":1170,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[390,393,386,384,389,387,388,391,392,394,385],"class_list":["post-1169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india-news","tag-110-million-jobs","tag-concerns","tag-goods-and-services-tax-gst","tag-gst","tag-high-value-banknotes","tag-highest-28-slab","tag-new-tax","tag-official-data-show","tag-rule-changes","tag-small-businesses","tag-tax-rate-cut-on-177-items"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.zaanews.in\/index.php\/wp-json\/wp\/v2\/posts\/1169"}],"collection":[{"href":"https:\/\/www.zaanews.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zaanews.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zaanews.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zaanews.in\/index.php\/wp-json\/wp\/v2\/comments?post=1169"}],"version-history":[{"count":1,"href":"https:\/\/www.zaanews.in\/index.php\/wp-json\/wp\/v2\/posts\/1169\/revisions"}],"predecessor-version":[{"id":1171,"href":"https:\/\/www.zaanews.in\/index.php\/wp-json\/wp\/v2\/posts\/1169\/revisions\/1171"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zaanews.in\/index.php\/wp-json\/wp\/v2\/media\/1170"}],"wp:attachment":[{"href":"https:\/\/www.zaanews.in\/index.php\/wp-json\/wp\/v2\/media?parent=1169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zaanews.in\/index.php\/wp-json\/wp\/v2\/categories?post=1169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zaanews.in\/index.php\/wp-json\/wp\/v2\/tags?post=1169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}