Now, buying a house and making it cheaper, the government will give great relief
- Buying and making a home will be affordable soon. The Union Government is contemplating reducing GST on cement prices. Even though the GST council meeting on December 22 did not get much relief from the cement, Finance Minister Arun Jaitley said that soon the cement will be brought in a 28% tax slab. The Finance Minister said that 28% of the slabs are about to end in customer terms. So, if the GST falls on the cement, home buyers and buyers can get big relief soon.
- New Delhi (Light Priority): Buying and making a home will be affordable soon. The Union Government is contemplating reducing GST on cement prices. Even though the GST council meeting on December 22 did not get much relief from the cement, Finance Minister Arun Jaitley said that soon the cement will be brought in a 28% tax slab. The Finance Minister said that 28% of the slabs are about to end in customer terms. So, if the GST falls on the cement, home buyers and buyers can get big relief soon.
- The goods associated with construction can be cheaper
- The government has already taken the goods related to construction to the GST slab of 28%% and brought it to 18%. Now if the cement becomes cheaper, home buyers will get a lot of flexibility. Because the high cost of home made cement costs the original price is very high.
- 28% of GST slabs will be eliminated
- Initially, many slabs were taxed on GST. But every time the government's endeavor is to give some relief to the customer in the GST council meeting. After the Council meeting held on December 22, the government is now contemplating ending the slab of 28%. Instead the government is thinking about bringing slabs of 12 and 18% into a third slab. According to the sources, the starded slab can be 15%. Yes but there will be a high slab of tax on things such as sine goods, cigarettes, tobacco, cigars and liquor items.
- Stability in tax collection: Jaitley
- Finance Minister Arun Jaitley says tax collection has increased in comparison to last year. Last year, the tax collection was around 89700 in the month, and the tax collection this year has been around Rs 97100 crore per month. However, the government wants to achieve the target of tax collection of Rs 1 lakh crore per month.
- Less tax from Congress rule: Jaitley
- On tax rates, Finance Minister Arun Jaitley has directly attacked the Congress. Jaitley said that Congress had about 235 items in the state, on which the tax was 31% or more. In the NDA government, leaving only 10 items, the remaining items are 28% or less in the slab.
- How much tax is still on how many things
- Currently, 183 items out of 1216 items are tax-free, 308 items have 5% tax, 178 items are in 12% slabs, 517 items, which are 18% taxable.