GST Council may lower rates on sanitary napkins on July 21 meeting
The GST (Goods and Services Tax) Council in its meeting on July 21 would discuss simplified return form, which is likely to give a breather to small taxpayer with turnover of less than Rs 1.5 crore and composition dealers, sources privy to the developments told CNBC-TV18.
The GST (Goods and Services Tax) Council in its meeting on July 21 may consider lowering rates on sanitary napkins, sources privy to the developments told CNBC-TV18.
But some states are of a view that sanitary napkins must be shifted to exempt category under the GST.
Sanitary pads were placed in the 12 percent tax slab, when the GST regime was implemented on July 1, 2017.
The council may discuss simplified return form, which is likely to give a breather to small taxpayer with turnover of less than Rs 1.5 crore and composition dealers,
Businesses having zero tax liability under GST may soon can file a one page form annually, instead of monthly returns, sources said.
The council is also planning to discuss mode of utilisation of funds amounting to Rs 1. 80 lakh crore, which is struck with integrated GST (IGST) kitty.
Sources told that council may consider lowering rates on some items including ebooks, fertilisers, handicrafts, handloom and some farm products.
However, the council may approve certain changes in some of the GST laws — Central GST (CGST), State GST (SGST) and Integrated (IGST).
To raise funds to help distressed farmers, GST council may deliberate on imposing agricultural cess on luxury goods.
A group of state finance ministers (GoM) mooted by GST Council, would be placing their recommendations on ethanol and sugar cess in the upcoming meeting.
The ministerial panel mooted GST reduction on ethanol from 18 percent to 12 percent but did not favour imposing cess on sugar as arrears to cane farmers are already declining.
The council may discuss issues related to hotel industry, government services and treatment of lottery under GST.
First Published: Jul 17, 2018 9:05 PM IST
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