Anurag Thakur informed 1.5 lakh doses of vaccine Sputnik V have already reached (FILE)
New Delhi:
After Congress leader Mallikarjun Kharge wrote to Prime Minister Narendra Modi offering suggestions to tackle COVID-19, Union Minister of State (MoS) for Finance and Corporate Affairs Anurag Thakur on Sunday gave point wise responses elaborating measures taken by the Centre and rectifying some of the misconceptions in the letter.
Mr Thakur posted Kharge s letter to PM Modi on his Twitter handle and said on government supplies, GST is also paid by the government. From GST collected on the vaccine, half is earned by the Centre and another half by the States. 41 per cent of Centre s collections also get devolved to the States. States end up receiving almost 70 per cent of the total revenue collected from vaccines, he explained.
After Congress leader Mallikarjun Kharge wrote to Prime Minister Narendra Modi offering suggestions to tackle COVID-19, Union Minister of State (MoS) for Finance and Corporate Affairs Anurag Thakur on Sunday gave point wise responses elaborating measures taken by the Centre and rectifying some of the misconceptions in the letter. Thakur posted Kharge s letter to PM Modi on his Twitter handle and said on government supplies, GST is also paid by the government. From GST collected on the vaccine, half is earned by the Centre and another half by the States. 41 per cent of Centre s collections also get devolved to the States. States end up receiving almost 70 per cent of the total revenue collected from vaccines, he explained.
Jockey’s Page Industries fails to get ITC relief on promotional goods from AAAR
May 11, 2021
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‘The ruling has rightly held that display boards, posters, etc. sent to the franchisees, distributors are inputs and not capital goods’
The Appellate Authority for Advance Ruling (AAAR) has held that the GST paid on promotional items cannot be availed as Input Tax Credit (ITC).
Hearing a petition filed by Page Industries, makers of Jockey and Speedo brands, the Karnataka AAAR observed that the promotional products/materials and marketing items used by the company can be considered as “inputs” as defined in Section 2(59) of the CGST Act, 2017. However, the GST paid on the same cannot be availed as ITC in view of the provisions of Section 17 (2) and Section 17 (5) (h) of the CGST Act, 2017. The AAAR has disposed off the application.
Read more about GST on vaccines in the interest of citizens, must to keep rates low: FM on Business Standard. If full exemption from GST is given, vaccine makers would not be able to offset their input taxes and would pass them on to the end consumer by increasing the price, says FM
Union Minister of State for Finance and Corporate Affairs Anurag Thakur (File photo)
Anurag Thakur rectifies misconceptions in Kharge s letter to PM, says states get 70 pc of vaccine revenue ANI | Updated: May 10, 2021 00:56 IST
New Delhi [India], May 10 (ANI): After Congress leader Mallikarjun Kharge wrote to Prime Minister Narendra Modi offering suggestions to tackle COVID-19, Union Minister of State (MoS) for Finance and Corporate Affairs Anurag Thakur on Sunday gave point wise responses elaborating measures taken by the Centre and rectifying some of the misconceptions in the letter.
Thakur posted Kharge s letter to PM Modi on his Twitter handle and said on government supplies, GST is also paid by the government. From GST collected on the vaccine, half is earned by the Centre and another half by the States. 41 per cent of Centre s collections also get devolved to the States. States end up receiving almost 70 per cent of the total rev