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GST News Highlights 16th Oct 2018

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Group of ministers says GST Council to seek states’ views on ‘disaster tax’
A panel of state finance ministers set up to deliberate a ‘disaster cess or tax’ under the goods and services tax (GST) to help states hit by natural calamities has decided to seek the response of all states on the matter.
The panel was of the view that the National Disaster Relief Fund (NDRF) was not sufficient to fund natural calamities and hence the decision to take the matter of a state-specific or nationwide ‘disaster tax or cess’ to all the states.

Opt out of GST or stop DMC item tax’
The Dimapur Chamber of Industries and Commerce (DCCI) today issued a ten-day ultimatum to the Nagaland State Government to either opt out of the GST regime or stop all “item tax” levied by the Dimapur Municipal Council (DMC).

Nestlé found to have profiteered Rs 98 crore from GST rate cuts
The Director General of Anti-Profiteering (DGAP) has charged the fast moving consumer goods (FMCG) major Nestle with profiteering. The company has been found to have deprived its customers of goods and services tax (GST) cuts of Rs 98 crore by not revising the prices of chocolates, baby food items and Maggi noodles among other products in line with the new rates, sources said. The DGAP last week submitted the investigation report to the National Anti-Profiteering Authority (NAA), the apex anti-profiteering body functioning under Ministry of Finance. The NAA will now hear the parties and come up with a final order in three months.


Source: Law Crux GST Updates

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