GST council raises peak rate to 40% from 14%
The Dollar Business Bureau After the GST Council advocated increasing the peak rate of the bill from its current 14% to 20%, the resultant GST rate may go up to as much as 40%. The new model of GST Bill will replace the old clause which says tax rate "not exceeding 14%, with "not exceeding 20%. The bill will come up for debate during the second phase of the upcoming parliament session next week. The change in the GST peak rate, however, will not change the 4-slab rate structure of 5%, 12%, 18% and 28%. The government had unveiled a revised draft of model GST law in November 2016, which has a maximum levy under the new regime at 14% (14% central GST and 14% ...
NAM amalgamates with more states as Govt. clears 12
The scheme predicts the execution of the NAM through setting up e-commerce platforms which would be stationed in 585 regulated wholesale market both in the state and the union territories who would like to join the e-platform The Dollar Business Bureau National Agricultural e-commerce platform The government has given its clearance to 12 states which would be merged with the National Agriculture Market. The Central Government has given its consent to the scheme for establishing the National Agriculture Market (NAM) with a Rs.200 crore budget. The scheme predicts the execution of NAM by setting up e-market platforms which would be stationed in 585 wholesale markets both in the state and the union territories. This applies to those who would like to join the ...
