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 ...
New special policy for Hydel projects soon: Minister
The Dollar Business Bureau Finally, there is some good news for all those companies that have taken up small projects as part of generating Hydel Power ranging from 40 MW to 2,000 MW. If sources are to be believed, the Ministry of Power is not only planning to come up with a new Power Policy but is also contemplating providing the much needed fillip to all the power projects that have been stalled either due to regulatory issues or lack of proper funding. Piyush Goyal, Central Power Minister speaking on the sidelines of an event – ‘Progressive Maharashtra Summit’ organized by FICCI, said that his Ministry will design a special policy in a way that a new project will be ...
