Today is the 21st meeting of GST Council in Hyderabad. In the meeting chaired by Finance Minister Arun Jaitley, there is a possibility of a change in some service and product tax. Somesh Kumar, Principal Secretary, Telangana, said that the Finance Minister of the States will be there in this meeting. It is being told that the state can raise many issues related to tax. Arvind Subramanyam, along with Finance Minister, has also reached Hyderabad.
This is the third meeting of council after the GST is implemented. Significantly, four Tier Taxes were imposed during the GST implementation. Taxes of 5, 12, 18 and 28 percent were imposed. It is noteworthy that the reduction in cess in luxury trains resulted in heavy losses in state revenue. The state government may demand to increase it. It is being said that after this mid-size and luxury vehicles will become expensive. After the GST was implemented, the price of trains was reduced by up to three lakhs. However, after the government opposes the car companies, instead of increasing the car prices suddenly, they can announce the increase in cess in two stages.
This is the third meeting of council after the GST is implemented. Significantly, four Tier Taxes were imposed during the GST implementation. Taxes of 5, 12, 18 and 28 percent were imposed. It is noteworthy that the reduction in cess in luxury trains resulted in heavy losses in state revenue. The state government may demand to increase it. It is being said that after this mid-size and luxury vehicles will become expensive. After the GST was implemented, the price of trains was reduced by up to three lakhs. However, after the government opposes the car companies, instead of increasing the car prices suddenly, they can announce the increase in cess in two stages.
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