2022
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Textile
|
|
|
Oil
|
|
|
Health
|
|
|
Electronics
|
Detailed explanation-1: -GST Hike on Textile Deferred: The Goods and Services Tax (GST) Council, a federal indirect tax authority, decided on Friday to put on hold a decision to hike the GST rate on numerous textile and clothing goods in response to several complaints from the textile industry.
Detailed explanation-2: -The 46th GST Council meeting was held on Friday, 31st December 2021, at Vigyan Bhavan in New Delhi.
Detailed explanation-3: -The 47th GST Council Meeting was held on 28th and 29th June 2022 in Chandigarh.
Detailed explanation-4: -From January 2022, the GST rate on fabrics has been raised to 12% from 5%, and the GST rate on garments of any value has been raised to 12%, compared to the previous rate of 5% on items priced up to INR 1,000.
Detailed explanation-5: -15/2021 dated 18/11/2021-Central Tax (Rate), where the rate of GST on certain works contract services provided to Government Authority and Government Entity has been increased from 12% to 18% w.e.f., 01-01-2022.