As per the current media reports, GST council in India is planning to pass an order stating that all the restaurants, shopping malls, and other shopping outlets must include taxes in the MRP price mentioned. This norm is passed with the clear motto of ensuring that the maximum retail price of the goods and services include the GST cost.
This action was initiated by the recommendations of the group of state finance ministers and this issue is going to be taken up to the GST council headed by the Finance Minister on 10th November.
The GST Council to meet on 10th November
According to the sources, the media is stating that GST council is planning to direct all the restaurants, shopping outlets, and malls to include the taxes in the MRP of the product or service. The issue was raised by a group of state finance ministers and the issue will be put in front of the GST council on 10th November 2017.
There have been loads of complaints from customers regarding the retailers charging the GST over and above MRP of the products. In regards to these complaints, a group of state finance ministers has suggested that the MRP of the products and services must include GST. The meeting of GST council that is scheduled for 10th November has been planned to raise the issue of these constant complaints by customers.
The government has suggested that, the MRP should be the maximum price of a product to be sold in retail. As off now there are many commercial establishment that sell the packaged goods for example bottled beverages. These commercial establishments are charging additional GST cost over MRP. It is the first time since Independence that country is going through this big tax reforms. The government has been reforming the GST norms according to the feedback coming from consumers and businesses.
Besides, the GST panel has also come in favor of extending the quarterly filing of returns for all those who pay taxes. Also, there has been reports that the GoM is recommending the government to include the slashing tax rate to 1% for the restaurants and Manufacturers.
Source – Business Today
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