New Delhi: The GST Council should lower the tax rate on Saturday in the works that are woven garments by 5 percent and set up a mechanism for online registration of property to a certain value before they can Be transported.
The Council, headed by Finance Minister Arun Jaitley, also take into account at its meeting the implementation of the new tax regime on goods and services (GST) from 1 July and will finalize a mechanism to implement anti-production Provisions To protect the interests of consumers.
The president of the Central Board of Special Taxes and Customs (CBEC), Vanaja Sarna, said that the movement of goods between states were disinfected with 25 of the 29 States that abolish checkpoints.
“About 25 states have abolished these checkpoints, so far, it has gone well,” he told PTI here.
This would strengthen the schedule after the electronic invoice in the GST, which would require the execution of all assets of more than Rs 50,000 in value before they can be registered online before being transferred.
“As the e-invoicing process for India is eliminated, we should be able to do something that will be better,” Sarna said.
However, it declined to comment on whether the electronic invoicing threshold would remain at Rs.50,000 or more in multi-quarter requests to lift it.
Officials said the rules for electronic billing will be decided on Saturday. This provision of the GST requires that any product of more than 50,000 rupees in value be pre-registered online before it can be moved.
According to the preliminary provision, GSTN generate electronic invoices that will be valid for 1 to 20 days, depending on the distance – one day for 100 km, 3 days (100 to less than 300 km), 5 days (300- minus 500 km) and 10 days (500-less than 1000 km).
The information technology platform for the electronic billing system is being developed by the National Computer Center.
Earlier this week, Finance Minister Arun Jaitley said it would be mandatory for manufacturers to pass the benefits of the tax reduction after the GST to consumers.
“What if the tax benefits of the inputs are not passed on to consumers? … We meet in a few days from now.
In a short time we will finalize the whole mechanism with regard to the fight against speculation, “he told parliament.
The Council should also take into account the lowest tax rates for garment manufacturing work at 5 percent to 18 percent, a senior official said.
At present, services related to textile yarns – other than synthetic or filamentary fibers – and fabrics attract 5% GST. Other clothing work attracts an 18 percent load.
The official said the council could consider rationing and bring all the work, including cloth clothing, under the slab of 5 percent.
In addition to the review of the GST implementation, the 19th Session of the Council, on Saturday examined the rationalization of the anomalies raised by the industry in a month, said an official, who would not be designated.
This will be the first full meeting of the GST Council, including representatives of the 29 states, following the implementation of the new indirect tax reform on July 1.