AS IT MEETS for the 50th session on Tuesday, the Goods and Services Tax (GST) Council will refrain from undertaking major structural changes in the comprehensive indirect tax that has just completed six years, but is likely to tweak the rates for a few products and issue a host of important clarifications.
Additional measures to plug fake registration of firms and foil misuse of input tax credit (ITC) are also set to be announced. The Council is expected to clarify that the supply of food and beverages at cinemas is taxable at the rate of 5%, similar to standalone restaurants, dispelling a notion that the applicable rate is 18%. Besides, it will also make it clear that a 22% cess is applicable on MUVs and XUVs, similar to the one imposed on SUVS, official sources said.
Diese Geschichte stammt aus der July 11, 2023-Ausgabe von Financial Express Mumbai.
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Diese Geschichte stammt aus der July 11, 2023-Ausgabe von Financial Express Mumbai.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
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