Venkaiah allay fears on GST, says it is a revolutionary reform

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The Union Finance Minister Arun Jaitley has launched a mobile app "GST Rates Finder" in his chamber in the national capital on Saturday, to help users to find rates of GST for various goods and services.

"It's being reported that gifts and perquisites supplied by companies to their employees will be taxed under GST".

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"The search can be made based on description of goods or services or HSN Chapter or section or heading number", the ministry said while adding that the launch of GST Rates Finder app would serve as a ready reckoner on GST rates. The 15-20 member team will also include officials from Ministry of Foreign Affairs and Finance Ministry.

Nepal would be drawing attention of the Indian government over GST implementation in relation to the bilateral Trade and Transit Treaty, Sainju said. With GST coming into effect, that charge has been raised to 18 per cent. Gift has not been defined in the GST law. Clarifying on reports of tax incidence on sanitary napkins under GST, a finance ministry statement said, "The tax incidence on this item before and after GST is the same or less".

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Toys, low-cost electronics, computer components, crockery, mobile accessories, lightings, stationary, plastic wares, building material (floorings, wallpapers) and ceramics are some of the cheap Chinese imports coming and selling across the country. "These services will not be subjected to GST provided appropriate GST was paid when procured by the employer", it said.

It said the actual tax incidence on sanitary napkins after the announcement of the Goods and Services Tax were either the same or less than prior to GST. Bringing the country under a uniform tax regime, GST is expected to add 2 per cent to India's GDP (gross domestic product).

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The famous peanut candy "Kadlai Mittai" industry of Tamil Nadu raised speculation over the tax rate under the newly implemented Goods and Services Tax (GST).