Modi Government Will Give Great Relief To The Middle Class, Happy To Know What Will Be Announced?
Modi government will give great relief to the middle class, happy to know what will be announced?
New Delhi: After giving relief to small traders and exporters, the government is now going to give a big relief to the middle class in GST. At the next meeting of the GST Council, the decision to reduce the current rate of GST from 18 percent to 12 percent in the AC restaurant will be taken mostly.
Reducing GST rates in AC Restaurant will reduce the tax burden by 33% in AC Restaurant by 33%. According to sources, the GST Council has agreed that the rate of GST will be 12% for any restaurant at the end of the gap between the AC and non-AC category.
Currently, 18 percent for AC Restaurant and 12 percent GST for non-AC. If the decision is made then the tax of AC Restaurant and Non AC Restaurant will be similar. Assam's finance minister Hemant Vishwas Sharma's first meeting was held in Delhi on Friday. This was confirmed at this point.
After that, a decision was made to form a ministerial set at the Council meeting on 6 October and it was asked to take a decision in two weeks. According to sources, the ministerial group will submit its recommendations to the GST Council meeting on November 10 in Guwahati. The Supreme Institute Council is the decision making body of GST.
According to the sources, according to the meeting of the ministerial group, it was agreed that during the calculation of the turnover of one crore rupees of merchants coming under the composition scheme, it should not be included in the sale of those items which got rid of GST. No method has been decided on how to do this.
