Business

GST Council Chooses To Reduce Molasses Tax To 5%

The GST Council resolved on Saturday to decrease the GST on molasses to 5 percent from 18 percent and to remove alcohol for human consumption from the levy.

T S Singh Deo, Deputy Chief Minister of Chhattisgarh, stated that extra-neutral alcohol (ENA) for industrial usage will continue to be subject to the Goods and Services Tax (GST).

“ENA (potable alcohol) for human consumption will be exempt from GST and the same will be communicated to the Supreme Court”, said Deo following the GST Council’s 52nd meeting.

“The tax rate on molasses, a by-product of sugarcane and used as raw material for alcohol production, has been reduced to 5 percent from 18 percent currently”, Deo continued.

He went on to say that other states, such as Delhi and Goa, have addressed the issue of online gaming companies receiving GST demand letters for alleged evasion.

“There was discussion on charges (tax demand notice) on these companies retrospectively. Because DGGI is an independent body, there cannot be any interference. The (GST Council) chairperson stated she would make clarifications available to DGGI if required”, Deo added.

Also read: Haryana Government Commences Construction Of 800 MW Power Unit At Yamunanagar Thermal Plant

Spriha Rai

Recent Posts

Seeing The Lord Among Devotees Is The Pinnacle Of Humility: Gautam Adani At Rath Yatra

Gautam Adani, along with his wife and Karan, participated in the Rath Yatra in Puri,…

44 mins ago

PM Modi Interacts With Group Captain Shubhanshu Shukla Aboard The ISS

PM Narendra Modi interacted with Group Captain Shubhanshu Shukla, the first Indian to reach the…

2 hours ago

Gautam Adani, Family Participate In Puri Rath Yatra; Launch Massive ‘Prasad Seva’ Initiative

Gautam Adani, along with his wife Priti Adani and son Karan Adani, joined thousands of…

2 hours ago

PM Modi, Leaders Pay Tribute To Former PM PV Narasimha Rao On Birth Anniversary

PM Narendra Modi on Saturday paid tribute to former Prime Minister PV Narasimha Rao on…

3 hours ago

Gautam Adani Hails Divine Experience At Rath Yatra; Praises Odisha’s Graceful Management

Gautam Adani conveyed profound spiritual emotions after witnessing the revered Rath Yatra of Lord Jagannath…

3 hours ago

Punjab’s Litchis Reach Middle East Markets In Boost To India’s Fruit Exports

In a step towards diversifying India’s horticultural exports, Punjab has successfully shipped its first consignment…

3 hours ago