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 got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Prince Harry and Meghan found out about Kate Middleton's cancer diagnosis on TV like everyone else, report says
- Ice melt in Antarctica and Greenland is slowing Earth's rotation, affecting timekeeping: Study
- Elections on a plate: Poll panels fix menu & expense ceiling for Samosa, tea, biryani & more
- Regenerative farming, cover crops will help farmers increase yields, reduce stubble burning: IDH CEO
- Sustainable Event Planning
- Ambani, Adani collaborate: RIL picks 26% stake in Adani Power project