Wednesday 21 June 2017

GST on gold to be hiked from 3% to 5%? Government plans to review in Q1 meeting post implementation

The GST Council may review the tax rate on gold under the new GST regime in its first quarterly meeting, with Kerala state and the Central Board of Excise and Customs keen on imposing a higher 5% levy on the precious metal, ET Now reported citing unidentified sources. However, Finance Minister Arun Jaitley has favoured the low tax rate of 3% on gold to prevent smuggling. Read More

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