Inflation: Meeting On Reducing Prices Of Edible Oil Today, Revenue Secretary Said Need To Reduce Number Of Products Exempted From Gst

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The Food Ministry has called a meeting of oil companies on Wednesday to discuss reducing the retail prices of edible oil. Food Secretary Sudhanshu Pandey said, there has been a fall in the prices of edible oil in the global market. In the meeting, these companies will be asked to pass on its benefits to the customers. Here, Revenue Secretary Tarun Bajaj said on Tuesday that there is a need to reduce the number of exempted products under GST.

This is necessary for the service sector. Addressing the Confederation of Indian Industry (CII) program, he said, the government’s effort is to remove the loopholes in the GST system in two-three years. The Group of Ministers is engaged in rationalizing the rates. CII President Sanjeev Bajaj said that electricity and fuel should also be brought under the ambit of GST to simplify the structure.

Health services not affected by GST on hospital rooms
Bajaj defended the levy of GST on non-ICU rooms with rentals above Rs 5,000, saying it will not affect providing affordable health care to a large section of the population. He said, I would also like to know that how many rooms are rented in hospitals across the country. I think this number will be very less. So, if I can spend Rs 5,000 on room rent, I can also pay Rs 250 as GST.

No excise duty on ethanol in petrol and diesel

Petrol and diesel may soon become cheaper. The Finance Ministry said in a notification on Tuesday that 12 liters of excise duty will not be levied on any 12 liters of petrol which is adulterated with 12 to 15 per cent and 20 per cent ethanol in diesel.

This means that if 12 liters of ethanol is mixed with 100 liters of petrol, then no excise duty will be levied on it. Whereas duty will be imposed on 88 liters. Along with this, green tax will also not be applicable on petrol and diesel from October 1. This will reduce the tax burden on companies.

Plants will be able to sell electricity to the states without agreement
The government has also allowed the sale of surplus power from imported coal-based power plants to states with which they do not have agreements. The power ministry said non-operational imported coal-fired plants will have to start production amid pick-up in power demand. The rest of the power can be sold to any state if the contracting states do not buy it. The rule is in force till October.

Expansion

The Food Ministry has called a meeting of oil companies on Wednesday to discuss reducing the retail prices of edible oil. Food Secretary Sudhanshu Pandey said, there has been a fall in the prices of edible oil in the global market. In the meeting, these companies will be asked to pass on its benefits to the customers. Here, Revenue Secretary Tarun Bajaj said on Tuesday that there is a need to reduce the number of exempted products under GST.

This is necessary for the service sector. Addressing the Confederation of Indian Industry (CII) program, he said, the government’s effort is to remove the loopholes in the GST system in two-three years. The Group of Ministers is engaged in rationalizing the rates. CII President Sanjeev Bajaj said that electricity and fuel should also be brought under the ambit of GST to simplify the structure.

Health services not affected by GST on hospital rooms

Bajaj defended the levy of GST on non-ICU rooms with rentals above Rs 5,000, saying it will not affect providing affordable health care to a large section of the population. He said, I would also like to know that how many rooms are rented in hospitals across the country. I think this number will be very less. So, if I can spend Rs 5,000 on room rent, I can also pay Rs 250 as GST.

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