28th gst council meet: good news for women, no tax to be levied on sanitary napkins - super absorbent polymer paper
The GST Council also decided to take out many items from the 28-cent tax.
The GST committee met on Saturday to decide to exclude sanitary napkins from the GST, which means no tax will be imposed on sanitary napkins.
Previously, the price of sanitary napkins was less than 12 cents.
In addition, the Council decided to take out many items from the 28-cent tax.
Earlier, the Treasury defended 12 cents in taxes, saying the tax incidence of sanitary napkins after goods and services were pre-tax (GST)
Same or less as imports, reducing the current 12% tax rate would put domestic manufacturers at a greater disadvantage.
The ministry earlier said in an official statement that sanitary napkins attracted 6% preferential consumption tax and 5% pre-VAT tariffs
The estimated total tax on goods and services and sanitary napkins is 13. 68%.
Therefore, the tax rate on goods and services for sanitary napkins is 12%.
The main raw materials for the manufacture of sanitary napkins and their respective GST rates are as follows: GST rates for high water absorbent polymers, Polyethylene Films, glue and LLDPE packaging covers are 18%.
Although 12% GST rate has been done for thermo-bonded non-
The material is woven, released paper and pulp, the statement said.
As a raw material for the manufacture of sanitary napkins, it has attracted 18% and 12% of commodity and service taxes. even if there are 12% of commodity and service taxes on sanitary napkins, the structure of commodity and service taxes has also been reversed.
It also endorsed the simplification of the declaration process.
However, Delhi's finance minister Manish Sisodia clarified that no decision has been made on the success of sugar at this time.
It is also important to note that interim finance minister Piyush Goyal will chair his first meeting as Arun Jaitley is recovering from the operation in May.
As mentioned earlier, the format of the annual return and audit was also approved at today's meeting, and the industry expects that there may be some reconciliation in the annual IT return as the government aims to check tax evasion.
Launched in July 1, 2017, this is the first year that companies must submit annual returns (GSTR-9)for 2017-
Finance by December 31, 2018.
Businesses with a turnover of more than Rs 2 must also submit audit reports and annual returns.
It is worth noting that the final confirmation of these items can only be confirmed after the official briefing scheduled for six o'clock P. M. (
Wait for more details)