Anti-profiteering provisions under GST have been one of the most hotly debated topics recently. This debate has gained momentum after the steep GST rate cut from 28% to 18% on over 175 items from mid-November.
Before the roll out of GST, the US Federal Reserve in a study predicted that an aggregate weighted GST of 16% could lead to a positive impact on real GDP by 4.2%, whereas at 20% it would result in a positive impact of 3.1% on
While approving the laws, few important changes were proposed. First, a maximum ceiling of GST rates got increased from 14% under the central and state GST laws, respectively, to 20%, thereby effectively increasing the cap fr
Recently, the draft of the Goods and Services Tax (GST) law was released by the finance ministry. While there are no major surprises in the structure of the law from what was earlier envisaged by the Empowered Committee’s d