Government hikes GST on over 2 dozen goods and services ranging for food items to vehicle rentals and hotels

 From July 18, duty hikes will protest in for over two dozen goods and services, ranging from unbranded food particulars, curd and adulation milk to low- cost hospices, cheques and charts, the Goods and Services Tax( GST) Council decided after a marathon two- day match that concluded on Wednesday. 

 

 At the same time, duty rates will be lowered for about half a dozen goods and services, including ropeways and truck settlements where energy costs are included, and scrapped for products imported by private merchandisers for use by defence forces. 

Finance minister Nirmala Sitharaman said any increase in GST rates is intended to make up for" inefficiencies" in the value chain. 

 

 She said all countries are apprehensive of the implicit impact of rate rationalisation on affectation and any increase in GST rates will also make up for the duty burden borne by some other conditioning in that value chain. 

" Technology may correct anomalies for inefficiencies and thus may have a possible impact on profit collection. But the profit-neutral rate of the RBI study has been traduced to the disadvantage of the system. That calls for a correction," Sitharaman told journalists after the 47th council meeting then. 

 

 A videotape is doing rounds on social media in which Union Finance Minister Nirmala Sitharaman can be heard inaptly saying GST on “ steed- trading ” rather of “ steed- racing ”. The gaffe happed when Sitharaman was addressing the press after the GST Council meeting on Wednesday. 

The slip of lingo gave a chance to some opposition leaders to take a jibe at Sitharaman and the BJP. The short videotape clip was participated by CPI- M Polit office member Sitaram Yechury who used the videotape to charge the BJP with steed- trading allegation. 

 

 “ Truth gallops out? GST on steed trading! Please go ahead, ” Yechury wrote along with the videotape. 

On Thursday, the five- time window for countries getting compensation defended by the GST law will close and they may have to stay for the coming meeting for a decision on defended compensation profit. 

 

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