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GST Council to undertake massive rates rejig today
Financial Express Chandigarh
|December 21, 2024
● Fitment committee recommends tax cuts for fortified rice kernels; UVs may attract 22% cess
THE GOODS AND Services Tax (GST) Council will take up a slew of recommendations from the rates fitment committee, including slashing of the tax on fortified rice kernels, and a 22% cess on all utility vehicles (UVs), on Saturday.
According to sources, the fitment committee has recommended slashing the GST on supply of all fortified rice kernels, including that for use in PDS/welfare schemes, to 5% from 18% at present, and the tax on raisins (which are not pre-packed) to nil from 5%.
"The request from industry was for nil rate for fortified rice kernels other than pre-packaged and labelled ones, and a 5% rate to apply on prepackaged and labelled items," said a source.
This story is from the December 21, 2024 edition of Financial Express Chandigarh.
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