GST Council decides to cut tax on molasses to 5%: TS Singh Deo
Summary
Chhattisgarh Deputy Chief Minister TS Singh Deo, who is a member of the GST Council, said extra-neutral alcohol (ENA) for industrial use will continue to attract GST.
The GST Council on Saturday decided to cut the Goods and Services Tax (GST) on molasses to 5%, from 18%, and exempt alcohol for human consumption from the levy. Chhattisgarh Deputy Chief Minister TS Singh Deo, who is a member of the GST Council, said extra-neutral alcohol (ENA) for industrial use will continue to attract GST.
“ENA (potable alcohol) for human consumption will be exempt from GST and the same will be communicated to the Supreme Court,” Deo told reporters after the 52nd GST Council meeting. The tax rate on molasses, a by-product of sugarcane and used as raw material for alcohol production, has been slashed to 5% from 18% currently, Deo added.
#WATCH | On the GST council meeting, Chhattisgarh Deputy Chief Minister TS Singh Deo says, “The decision (online gaming) taken last time was ratified. Some states have raised the issues… Goa stated that retrospective taxes have been levied…” pic.twitter.com/1SbTP1UGez
— ANI (@ANI) October 7, 2023
Deo added that some states like Delhi and Goa raised the issue of online gaming companies facing GST demand notices for alleged evasion.
“There were discussions on charges (tax demand notice) on these companies retrospectively. Because DGGI is an independent body, there cannot be any interference. The (GST Council) chairperson said she would make clarifications available to DGGI if required,” Deo added.
—With inputs from agencies
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter