GST puts to rest the 1% levy on stock trans­fers

Cargo Talk - - Report -

GST is on its way to be­ing im­ple­mented. The con­cept has been here since 2006, fre­quently ap­pear­ing in the Fi­nance Min­is­ter’s Bud­get speech. The Ra­jya Sabha Com­mit­tee, which was asked to re­view the GST bill, has rec­om­mended one per cent ad­di­tional tax on orig­i­na­tion ba­sis, which is not cred­itable, to be ap­pli­ca­ble only for sale of goods and not on stock trans­fers. This puts to rest the one per cent levy on stock trans­fers which was pro­posed ear­lier. This could op­er­ate sim­i­lar to the cur­rent CST levy. Of course, the c-forms are done away with un­der GST regime.

MS Vasan Di­rec­tor – Fi­nance, Gen­eral Mo­tors In­dia

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