No GST on Cotton-thread Rakhis; Gold, Silver Ones to be Taxed 5%
Nil tax on ‘puja samagri’, including holy red thread ‘kalava’: FinMin Firms Can Start Filing Returns from August 5
New Delhi: Rakhi, the sacred thread that women tie on the wrist of their brothers on the day of Raksha Bandhan, will not attract the goods and services tax, provided it’s the traditional cotton thread. However, gold and silver rakhis will be taxed 5%.
The finance ministry has said puja samagri, including holy red thread ‘kalava’, would attract nil GST. Thus, rakhi, which is in the form of kalava, would be exempted. Any other rakhi would be classified as per its constituent materials and attract GST accordingly, it said. Thus, rakhis made of gold and silver would face 5% GST. The Central Board of Excise and Customs (CBEC) made these clarifications in response to queries from industry and public in the form of frequently asked questions. It also clarified that Sandesh, a popular Bengali sweet, New Delhi: The first tax returns under the new goods and services tax (GST) regime can be filed from Saturday and the facility will remain open till August 20, GST Network CEO Navin Kumar said on Thursday.
Businesses can start filing their first GST returns and pay taxes for July on the portal of GST Network, beginning August 5, he said. To make compliance easy for firms, the GST Council has allowed businesses to initially file their returns on self-assessment basis in the first two months of rollout. So, the GST returns for July and August will be filed on the Goods and Services Tax Network portal by filling up GSTR 3B form.—
GST COUNCIL MEMBER HELD
The Central Bureau of Investigation arrested a superintendent of the GST Council for allegedly accepting a bribe through one of his close aides, reports
. This is arguably the first instance of the arrest of a GST official on charges of accepting illegal gratification.