GST counseling meeting can be important in many ways, GST rates on mobile | ZNDM NEWS

Actually the government wants to increase the inverted duty structure. So that the government's income can increase. Inverted duty is levied on items with higher GST rates for raw materials and components, but lower GST rates for final products. As a result of which the government has to pay refund to the manufacturer, in which the government spends more than 25 thousand crores annually.

Today the Council of Goods and Services Tax is going to meet. This meeting of the GST Council is important in many ways. According to the information, in the GST Council meeting, the GST on items such as mobile phones, footwear and textiles can be increased. Cess on automobiles will not be removed, but its tax structure will be discussed to remove deviation.  


Actually the government wants to increase the inverted duty structure. So that the government's income can increase. Inverted duty is levied on items with higher GST rates for raw materials and components, but lower GST rates for final products. As a result of which the government has to pay refund to the manufacturer, in which the government spends more than 25 thousand crores annually. Inverted duty is very high in case of mobile phones, footwear and readymade garments. Apart from this, traders also have to take refunds from the government repeatedly, which takes a lot of time. The government is going to increase the G ST rates due to these problems.  


 
In this meeting, discussion on input tax credit was also given in the media report citing an official of the department that the cases of fake input tax credit can also increase. Explain that the Fake input credit also remains a challenge for the tax department at the central and state level. In recent times, many important steps have also been taken. Cases on the same car, tobaco and aerated drinks can be increased. However, this increase will depend on that in states. These cess states are levied to make up for the loss from GST.