Modi government to cushion the impact of hike in service tax, post GST
Advertisement
Advertisement
The
A service tax of 14.5% is currently imposed by the government. However, GST rate is expected to be higher with states such as Kerala looking at a rate of 20%, so they don’t lose revenue in the new tax regime.
A rate of somewhere around 18% had been recommended by a committee under
"We will give our inputs and the various scenarios under GST. It is a political call which has to be taken," the official further added. According to the sources, in the run up to the general election in 2019, the government will take any measure to shield the voters/consumers in case of an increase in the
Advertisement
Also efforts are to be made so as to minimize the impact created by the GST on the under
In contrast to this, a cushion may not be provided to lessen the impact for services like
“Abatement may continue for some
(image:Reuters)
Advertisement
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
- Move over Bollywood, audio shows are starting to enter the coveted ‘100 Crores Club’
- 10 Powerful foods for lowering bad cholesterol
- Eat Well, live well: 10 Potassium-rich foods to maintain healthy blood pressure
- Bitcoin scam case: ED attaches assets worth over Rs 97 cr of Raj Kundra, Shilpa Shetty
- IREDA's GIFT City branch to give special foreign currency loans for green projects