Compensation to states for post-GST revenue lost released, jewellery business under GST radar
New Delhi, Jan 5 (IBNS): While the Triple Talaq Bill continues to take centre-stage on Friday, the last day of the winter Parliamentary session, the Rajya Sabha will also take up for consideration the Goods and Services Tax (Compensation to States) Amendment Bill, 2017.
Meanwhile, the Central government has released Rs 24,500 crore to states as compensation to make up for revenue loss post GST on bi-monthly basis for July-August and September-October 2017, according to media reports.
Meanwhile, the government is keeping a close tab on jewellery houses on suspicion of large-scale evasion. According to media reports on Friday, 90 parcels containing jewellery have been confiscated by the GST department in Mumbai allegedly for flouting tax norms.
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