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GST Council sets 4 tier rates

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GST Bill

New Delhi, November 3: The Goods and Services Tax Council meet on Thursday pegged up GST rate structure at 5, 12, 18 and 28 per cent as against the proposed rate at 6, 12, 18 and 26 percent in the last meeting.

The two-day GST council deliberations started in New Delhi today and the center and state could reach a consensus on the four-tier tax structure. The agenda for today’s meeting was to sort out the anomalies related to tax rates and revenue loss by the state.

Finance Minister Arun Jaitley said after the meet: Zero-tax rate to apply to 50 per cent of items in the Consumer Price Index basket, including grains used by the common man. 5 per cent duty will be levied on items of mass consumption used by common people.

 

 

According to the latest structure the two standard rates would be 12 and 18 per cent. Items taxed at 30-31 per cent will be taxed at 28 per cent. Additional revenue from highest tax slab will be used to keep essential use items at 5 per cent and common use items to 18 per cent.

“Luxuary cars, tobacco, aerated drinks to be levied with a cess, which along with clean energy cess, will be used to compensate States for loss of revenue. Compensation pool created through cess will be for five years. Rs. 50,000 crore is required to be paid to States for loss of revenue in the first year of GST rollout,” said Jaitely.

Wefornews Bureau

 

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No decision to discontinue printing Rs 2,000 notes: Govt

Security Printing and Minting Corporation of India Limited (SPMCIL) has informed that printing of bank notes at their presses was also affected due to the Covid-19 pandemic, he said.

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Rs 2000 Notes

New Delhi, Sep 19 : Although printing of Rs 2,000 denomination notes has been significantly lowered, the Centre has not decided to discontinue the high denomination notes.

In a written reply to a question in the Lok Sabha on Saturday, Minister of State for Finance, Anurag Thakur said that printing of bank notes of particular denomination is decided by the government in consultation with the Reserve Bank of India (RBI) to maintain desired denomination mix for facilitating transactional demand of public.

“During the year 2019-20 and 2020-21, no indent has been placed with the presses for printing of Rs. 2000 denomination notes. However, there is no decision to discontinue the printing of Rs. 2,000 denomination bank notes by the Government,” he said.

A total of 273.98 crore notes of the denomination of Rs 2,000, were in circulation as of March 31, 2020, compared to 329.10 crorenotes in March 31, 2019.

On a question regarding the impact of the pandemic on the currency printing process of various denomination notes, Thakur said that according to RBI in view of nation-wide lockdown printing of notes stopped temporarily.

However, the note printing presses resumed production in a phased manner, as per the guidelines issued by Central and state governments.

The production activities at Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) presses were suspended from March 23, 2020 to May 3. Printing of bank notes at BRBNMPL presses resumed from May 4, 2020.

Security Printing and Minting Corporation of India Limited (SPMCIL) has informed that printing of bank notes at their presses was also affected due to the Covid-19 pandemic, he said.

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Centre to buy aircraft worth Rs 250 cr for weather forecast

It is an autonomous body under the Ministry of Earth Sciences. Through this nodal agency, the people will get information about the weather.

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New Delhi, Sep 19 : The government is planning to use more hi-tech methods for accurate weather forecast. Union Minister Harsh Vardhan said there is a plan to purchase an aircraft at a cost of Rs 250 crore, which will help in accurate weather prediction in different parts of the country.

The Ministry of Earth Sciences, Ministry of Aeronautics and Technology is planning to purchase this aircraft. The information was given by Minister of Science and Technology and Earth Sciences Dr. Harsh Vardhan in written reply to a question in Lok Sabha on Friday.

On Friday, an MP in the Lok Sabha had asked whether the government is considering a proposal to buy a special aircraft for conducting experiments related to the weather forecast.

Answering this question, Harsh Vardhan said that his Ministry is considering purchasing a special research aircraft for atmospheric process studies in the country. Equipped with scientific equipment, the cost of this aircraft system can be Rs 250 crore.

Harsh Vardhan said the aircraft is likely to be used to solve various atmospheric research problems in weather, atmosphere in different parts of the country. This will help with meteorological cloud physics data.

The minister said that apart from this, it can also be helpful in the evaluation of air pollution assessment and studies related to health, need, climate environment and hydrology.

He said that Indian Institute of Tropical Meteorology (IITM) Pune will work as the nodal agency for this entire scheme.

It is an autonomous body under the Ministry of Earth Sciences. Through this nodal agency, the people will get information about the weather.

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BS-IV vehicles needed for public utility services & purchased up to March 31 be registered: SC

The issue of pollution from vehicles had cropped up before the apex court which is hearing a matter related to air pollution in the Delhi-national capital region (NCR).

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New Delhi, Sep 18 : The Supreme Court Friday said BS-IV vehicles, which were purchased on or before March 31 this year and are necessary for municipal corporation in Delhi to carry out essential public utility services, should be registered.

The apex court had in October 2018 said that no BS-IV compliant vehicle would be sold or registered in India from April 1, 2020.

In 2016, the Centre had also announced that India would skip the BS-V norms and adopt BS-VI by 2020.

BS emission norms are standards instituted by the government to regulate output of air pollutants from motor vehicles.

The matter came up for hearing before a bench headed by Chief Justice S A Bobde which dealt with applications related to registration of three types of vehicles — CNG , BS-IV and BS-VI compliant — for being used for essential public utility services.

“Insofar as CNG vehicles are concerned, there cannot be any valid rejection to the vehicles, as the emission from these vehicles is within the limits. Therefore, we direct that these vehicles may be registered,” said the bench, also comprising Justices A S Bopanna and V Ramasubramanian.

It noted that BS-VI norms came into force on April 1, 2020 and vehicles purchased up to March 31 this year were BS-IV compliant.

“Admittedly the emission from BS-VI compliant vehicles is within the norms and hence the vehicles purchased on or after April 1, 2020 and which are BS-VI compliant, should also liable to be registered,” it said.

The top court noted in its order that BS-IV compliant vehicles purchased up to March 31 this year must have been registered with the E-Vahan portal of the government before the cut-off date to establish the date of purchase.

“If the purchase had been made on or before March 31, 2020 and these vehicles are BS-IV compliant, such vehicles necessary for the municipal corporation to carry essential public utility services should also be registered. But such cases shall be scrutinized by the Environment Pollution Control Authority (EPCA),” the bench said.

The bench said to avoid repeated applications being filed before the court just for the purpose of getting registration, “we direct that the EPCA shall scrutiny the pending cases and submit a report to this court so that a common order could be passed without the necessity for several interlocutory applications.”

The issue of pollution from vehicles had cropped up before the apex court which is hearing a matter related to air pollution in the Delhi-national capital region (NCR).

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