Goods and Service Tax Rate issues faced by various industries
By Ranjeet Mahtani and Sweta Rajan During its meetings on May 18 and 19, 2017, the GST Council declared the placement of goods and services across the fixed GST rate slabs. The GST Council further released the list of goods liable for GST Compensation Cess along with the applicable rate of cess and released a list of services which would be liable to GST under the reverse charge mechanism. While the GST law empowers the Government to specify goods and services on which GST is payable by the recipient, the Council has approved only services that are likely to attract GST on reverse charge basis. Rate specific issues The release of the GST rates has, as expected, triggered varying responses across industries. Some ...
LCS in Mizoram to boost Indias trade with Myanmar
Sai Nikesh D | The Dollar Business India and Myanmar are likely to start a formal border trade through North Eastern state of Mizoram. In this regard, the Indian Union Commerce Minister Nirmala Sitharaman and Myanmar's Commerce Minister, U Win Myint, were expected to jointly inaugurate a Land Customs Station (LCS) at Zokhawthar in Champhai district of eastern Mizoram, on March 25, to start India’s formal border trade with Myanmar. This move was expected in view of the discussions India and Myanmar had during the 5th India-Myanmar Joint Trade Committee meeting held in Nay Pyi Taw on February 17, 2015. In the meeting that was co-chaired by the Union Commerce Ministers of India and Myanmar, both the sides agreed to ...
World Bank project to link Indias Mizoram with Bangladesh, Myanmar
Better connectivity can help reduce freight and passenger transport costs, says Diep Nguyen-van Houtte, Senior Transport Specialist and the World Banks Task Team Leader for the project The Dollar Business Bureau | @TheDollarBiz The World Bank will lend $107 million to improve Indias hilly state of Mizorams road linkage with Bangladesh and Myanmar to boost trade in the region. Indias Northeastern state of Mizoram is sandwiched between Bangladesh and Myanmar, two countries with which the state shares a border of over 720 kilometres. The World Bank says that the Mizoram State Roads II Regional Transport Connectivity Project is expected to improve transport connectivity of Mizoram which can help increase intra-regional trade and reduce trade costs significantly. Being strategically located between Myanmar and Bangladesh, ...
