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The much anticipated tax rate on vaccines remain unchanged at 5 per cent.
The exemption is for over 20 materials related to Covid treatment such as vaccine, medicines, and equipment. The basic import duty for these had been exempted earlier itself.
Currently, domestic supplies and commercial imports of vaccines attract a 5 per cent Goods and Services Tax, while it is 12 per cent in case of COVID drugs and oxygen concentrators.
Goods and Services Tax (GST) mop-up in March recorded a 8.4 per cent decline over March 2019 collection of Rs 1.06 lakh crore.
This is only the second time since roll-out of GST that the monthly revenues have crossed Rs 1.1 lakh crore and sixth time during the year when it has crossed Rs 1 lakh crore.
The GST revenue last month reflects a pick-up in consumption and improvement in compliances.
After two months of negative growth, GST revenues witnessed an impressive recovery with a positive growth of 6 per cent in November 2019.
The Goods and Services Tax (GST) collection in September declined to Rs 91,916 crore, as against Rs 98,202 crore in the preceding month.
The finance ministry will come up with the introduction of a new return system, rationalisation of cash ledger system and a single refund-disbursing mechanism, among others.
Finance Minister Dr Thomas Isaac said the cess will be imposed only after necessary measures are taken in consultations with the GST Council.