In preparation for GST rate rationalisation, product categories’ fine-tuning begins
Ahead of the goods and services tax rate rationalisation exercise, the Central Board of Indirect Taxes and Customs has initiated a process of overhauling the existing product classification under the indirect taxes regime to further simplify it and remove ambiguity.
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The move is to reduce piling tax disputes and litigation the industry faced due to ambiguity in product classification.
Read more at : The Economic Times
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