Hyderabad: The TS government has been pitching for a clause in the GST Act to ensure that the benefit of lower taxes is passed on to the consumers. The TS government wants to raise this issue at the crucial meeting of the GST Council to be held on February 18 in Udaipur.
Besides, it will ask the Centre to set up a National GST Appellate Tribunal to resolve tax-related disputes between all stakeholders quickly. The transition of traders from VAT to GST is going on at a brisk pace in the state.
The linking of local traders with national GST networks is expected to be completed by April to enable GST rollout from July 1, as planned by the Centre.
Senior officials of commercial taxes department have submitted a report to finance minister Etala Rajender on the issues to be taken up in the GST Council meeting on February 18.
The report noted that the benefit of taxes that may come down due to GST should be passed on to consumers and there should be a mechanism like Appellate Tribunal to examine whether input tax credits availed by any registered taxable person, or the reduction in the price on account of any reduction in the tax rate, have actually resulted in a commensurate reduction in the price of the said goods and /or services provided.
Many manufactured goods like cars, are expected to become cheaper after GST.
“All manufacturers claim input credit from government on final output. This will result in a car costing Rs 5 lakh to become cheaper by Rs 50,000. This benefit should be passed on to consumers. We should not allow profiteering by manufacturers on account of this,” the official said.
The GST Council, headed by Finance Minister Arun Jaitley has already decided on a 4-tier GST tax structure of 5, 12, 18 and 28 per cent.
The Hyderabad police and She Teams are insisting that women who have downloaded the Hawkeye app must upload pictures and contact numbers of co-workers, cabs and residences through the app as a safety measure.
The TJAC may have failed to organise Wednesdays Unemployment Rally but the committee seems to have succeeded in realigning political forces against the TRS ahead of the 2019 Assembly elections.
Chatrinaka police arrested a 40-year-old man from Nalla Pochama in Chatrinaka on Wednesday for voyeurism.
Delhi's famous Kake- da-Hotel at Connaught Place was raided on Wednesday after a video of its cook kneading dough using his feet went viral
The feasibility of linking the Old City via the Multi-Modal Transport System or Bus Rapid Transit System more effectively is being explored by the state government in view of opposition to having the Metro Rail system in this part of the city.
Going by recent developments, the AP government is preparing to hand over its Secretariat buildings in Hyderabad to TS.
Telangana Chief Minister K. Chandrasekhar Rao and his entourage offered prayers at Tirumala on Wednesday.
Telangana states minister for agriculture, Pocharam Srinivas, was rushed to a hospital in Tirumala after he fell ill soon after the darshan on Wednesday.
Chief Minister K. Chandrasekhar Rao on Wednesday offered gold ornaments worth Rs 5.59 crore to Lord Venkateswara of Tirumala temple, drawing criticism from the Opposition that questioned how public money can be spent for fulfilling his personal vows.
A team of police officers from East Zone broke down the front door of the house of TJAC leader Prof. Kodandaram in the early hours of Wednesday and forcibly entered his house to arrest him and his 20-odd associates.
TJAC leaders, who later reviewed what had gone wrong on Wednesday, realised that repeating the same 2011 strategy for the unemployment rally had been a mistake.
The Central Board of Secondary Education (CBSE) will allow its students suffering from Type-1 diabetes and appearing for board exams for the Class X and Class XII to carry eatables while coming to examination centres.