The recent council of GST has provided a huge relief to Rajasthan based industries. The central government slashed the GST on more than 50 items. It has also announced exemption on many products. This step seems to a big support to middle class man of the country. Talking about the benefits of GST revision to Rajasthan, industries like carpets, Kota stones, textiles, hospitality sector and handicrafts etc will get the benefits. Know more.
GST council has also considered the issues of composition dealers. It has increased the threshold from 1 to 1.5 crore. Now, they don’t need to fill the monthly returns. They are now required to fill it on quarterly basis. With this decision, the composition dealers are happy as they face various difficulties in filing returns due to lack of resources.
Central Government and Rajasthan industries
Rajasthan dealer and traders had put forward their issues to Finance minster Piyush Goyal and interacted with him. As government understands the importance of these industries for Rajasthan and their challenges, it had considered them. Finally, the government had eased the norms for the state and its benefits.
Know the benefit received by Rajasthan
On Kota stone (except mirror polished), GST has been reduced to 5 percent from 12 percent. Now, many items in handicrafts industries would be reduced from 18 to 12 percent. There is 7 percent reduction on handloom carpet and handmade carpets i.e. it has been reduced from 12 to 5 percent. Now, the declared tariff for hotel accommodation would be abolished and calculation of tax would be made on actual tariff bill.
