Sushil Modi says tax rates on 80 per cent items of top 28 per cent slab likely to be slashed
Sushil Modi says tax rates on 80 per cent items of top 28 per cent slab likely to be slashed
Bihar Deputy Chief Minister Sushil Kumar Modi, Who Is Also A Member Of The GST Council, On Wednesday Said Tax Rates On 80 Per Cent Items Of Top 28 Per Cent Slab Are Likely To Be Slashed At The Councilâs Meeting Starting Thursday. PTI | Updated on: 08 Nov 2017, 08:36:17 PM
Patna:
Bihar Deputy Chief Minister Sushil Kumar Modi, who is also a member of the GST council, on Wednesday said tax rates on 80 per cent items of top 28 per cent slab are likely to be slashed at the council’s meeting starting Thursday.
Finance Minister Nirmala Sitharaman on Sunday said the Union Budget 2021-22 was about the role of government as a facilitator and the private sector as a key driver of economic growth, without which the country would be losing a big opportunity. “The most important component or input required here is the participation of the private sector. Unless the private sector is energised enough, unless it is facilitated enough, India is just losing a very big opportunity,” Sitharaman said in Bengaluru during the interactive session organised by the Bangalore Chamber of Industry and Commerce. Sitharaman underlined that the nation’s growing and aspiring needs and demands across various sectors cannot be served just by state government and central governments put together.
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Mobile industry raises demand for GST rate cut in Budget
Industry body India Cellular and Electronics Association (ICEA) has renewed its demand for reducing Goods and Services Tax (GST) for the mobile industry ahead of the Union Budget to be presented on February 1. Terming the GST hike of 50 per cent in March 2020 as a cruel blow dealt to the industry, the ICEA said that the rationale presented to the GST Council for raising the rate was flawed . To achieve the goal of smartphones in the hands of every Indian and to attain a domestic mobile phone market of $80 billion, it is imperative to reduce the GST on mobile phones from 18 per cent to 12 per cent, Pankaj Mohindroo, Chairman, ICEA, said in a statement.