"The decision was unanimous to introduce GST as a subject in commerce as well as management courses in universities", said Deputy Chief Minister Dinesh Sharma.
"But if the supply is composite, which means that the goods can not be segregated or sold discreetly then the product with highest taxable rate will be considered and that would be the tax levied on the entire bundle", he informed.Zanwar also unravelled the process further and discussed about attractive schemes launched by the government.
First Download the App from Playstore on Android Mobile Phones. The Finance Minister tweeted saying that the manufacturers will soon make it available for the iOS platform also. It will work even in the offline mode.
Goods and Services Tax has come hard on the common man and prices of most of the commodities we buy for our basic necessities have shot up.
The ministry said if the GST rate on sanitary napkins was to be reduced from 12% to 5%, it would further accentuate the tax inversion and result in a higher accumulated ITC, with correspondingly higher financial costs on account of fund blockage and associated administrative cost of refunds.
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Before the launch, Hasmukh Adhia is the Revenue Secretary, and the Arun Jaitley who is the Finance Minister checked the mobile app.
They can search for applicable CGST, SGST, UTGST rate and Compensation Cess on a supply.
"From an MSME perspective, GST will bring many positives compared to the current systems such as easy process of availing input credit, single point tax, elimination of cascading tax system, and simpler taxation", according to the ASSOCHAM and Ashvin Parekh Advisory Services (APAS) joint study titled Emerging Mantras for Bankers-Borrowers. Here the steps to find GST rates levied on various goods and services.
Searched items will list all the goods and services containing the name which was typed in search box. This tool will empower the taxpayers to know the correct GST rates on goods and services. Furthermore, the app is developed by National Informatics Center, India and offered by NIC India Board of Exercise and Customs (CBEC).