The 55th meeting of the Goods and Services Tax (GST) Council last week took some decisions and deferred some to a later date. Some of the decisions and clarifications once again underlined the inherent complexity of the indirect tax system. In a relief to small borrowers, the Council clarified that no GST was payable on the penal charges levied by lenders for non-compliance with loan terms. Further, it recommended lowering GST on fortified rice kernels of a certain variety and exempting the tax on gene therapy. The applicable tax rate on the sale of used vehicles, including electric vehicles, was harmonised at 18 per cent.
この記事は Business Standard の December 23, 2024 版に掲載されています。
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この記事は Business Standard の December 23, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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