Centre, states are likely to discuss CGST, SGST, IGST laws in the crucial GST Council Meet tomorrow. According to a report, states may push for higher compensation post revenue losses after demonetisation.
Centre, states are likely to discuss CGST, SGST, IGST laws in the crucial GST Council Meet tomorrow. According to ET Now, states may push for higher compensation post revenue losses after demonetisation. It is also being anticipated that Centre, states will discuss draft legislation for compensation. Anti-profiteering clause will also be discussed.
Earlier this week various health groups strongly recommended that tobacco products, including bidis, should be taxed at uniformly high rates under the new indirect tax framework. “The health groups have also strongly recommended that tobacco products including bidis should be taxed at uniformly high rates under the new indirect tax framework expected to kick in from July 1,” a statement said.
Ahead of the February 18 meeting, the groups also urged Finance Minister Arun Jaitley to ensure that all tobacco products, especially bidis, are placed in the demerit good category at the 28 per cent GST rate with an additional levy of the highest possible rate of cess. With the total tax burden currently at 53 per cent, 19.5 per cent and 56 per cent respectively on cigarettes, bidis and smokeless tobacco, taxation in India is much lower than the level recommended by the WHO.
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These groups also expressed disappointment that the Union Budget 2017-18 did not address this anomaly with an effective tax increase of 6 per cent, lower than at least the 10 per cent increase witnessed in previous budgets. With 10 lakh tobacco triggered deaths every year, public health advocates believe that the government’s taxation policies in the tobacco sector have left public health concerns unaddressed.