Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« GST - Goods and Services Tax »
Open DEMAT Account in 24 hrs
 State government extends due date for filing GST returns for November
 GSTN Introduces the e-Invoice Verifier App: All You Need to Know
 Income tax return filing: What is ITR 1 Sahaj form? Check eligibility and steps to file online
 GST council may consider setting up tribunal for indirect tax litigation
 GST Council may lower tax on health insurance
 GST Annual Return: CBIC amends GSTR-9 to Allow IRC Claims and Amendment of Invoices till 30th Nov
 GST (Tax) E-invoice Must For Businesses With Over 5 Crore Annual Turnove
 GST Portal Releases Module-wise New Functionalities deployed on the Portal for Taxpayers
 GST on betting and gambling: Tax structure and liabilities in case of default
 Budget to reset tax laws to decriminalise sections in I-T, GST: Finance Ministry
 In relief to tenants, AAR allows tax credit on GST paid on upfront lease premium

Govt wants to bring construction material under 5% GST
January, 02nd 2019

Most of the construction material items attract 18 per cent GST, while cement attracts 28 per cent tax.

Prime Minister Narendra Modi on Tuesday said the government wants to bring construction related material under the 5 per cent GST (Goods and Services Tax) slab. Slamming the Congress party for calling it 'Gabbar Singh Tax', the PM, during an extensive interview with the news agency ANI, said the GST-related decisions have been taken in consensus with all political parties in the country.

Right now, major construction material, capital goods and input services used for the construction of flats and houses attract 18 per cent GST, while cement attracts 28 per cent tax. The PM also said that the government will keep on changing the tax structure under the GST as there is a scope of improvement. On the GST being called "Gabbar Singh Tax", he indirectly attacked Congress President Rahul Gandhi saying "the way some thinks is the way he/she speaks". "Have the GST processes not been done taking a consensus with all political parties in the country? Since Pranab Mukherjee was FM, the GST process has been going on," he said.

He said that all decisions related to the GST have been taken by the GST Council, which is represented by members from all state governments, including the Congress ones. "Are they abusing their own party leader and party governments?... just creating political hue and cry is not good," he told the agency.

He said the GST is a new system and has brought a big transformation in India's tax regime. "So some small traders have faced inconvenience. We acknowledge this. The government's responsibility is to be sensitive to their concerns. So, whatever comes to our notice is referred to the GST Council. We decide collectively how to simplify (GST)," he said.

Also read: Urjit Patel wanted to resign, no political pressure, says PM Modi

He said the BJP government was trying to bring the construction material under the 5 per cent GST slab like it did in the case of restaurants. "But there were reservations by some. So the GST Council could not do it. It has now gone to the committee. We will try to ensure that the committee report is expedited," he said. The PM informed the GST Council had brought down tax rates on as many as 1,200-1,500 items of daily use, including zero tax on as many as 500 items. He also said before the GST was introduced, several items used to attract the tax rate of over 40 per cent, and that the new tax regime has made it a simple process.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting