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Military canteen will get 50% GST refund from the Centre and states

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Submitted by admin on Tue, 13/06/2017 - 21:04
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Military canteen will get 50% GST refund from the Centre and states

Union Finance Minister Arun Jaitley has announced that military canteens would initially pay full GST and get 50 percent refund on the total tax.

 

Military canteen will get 50% GST refund from the Centre and states

bipin Rawat_army

Moneycontrol News

The Centre and the states have agreed to refund 50 percent of the Goods and Services Tax (GST) to the Canteen Store Department (CSD) - also known as Army Canteen - after the latter deferred orders due to the disparities in tax payout, reports The Economic Times.

CSD was created to provide quality products to defence personnel and their family at lower than market prices. It runs retail stores across the country and CSD is the most profitable retail chain in India.

Union Finance Minister Arun Jaitley announced on June 3 that CSD would initially pay full GST and get 50 percent refund on the total tax.

The report said that CSD, in a letter dated May 31, has asked all depots to hold orders being placed for supplies in June.

CSD is one of the biggest customers for companies such as HUL, United Spirits and Samsonite. It procures consumer goods and consumer durable products in bulk directly from them and sales to the canteen forms 5-7 percent of these companies' total sales volume.

GST is going to be implemented from July 1 across the country and a four-tier tax structure has been finalised including slabs of 5 percent, 12 percent, 18 percent and 28 percent.      

 

 

SOURCE:http://www.moneycontrol.com/news/business/economy/military-canteen-will-get-50-gst-refund-from-the-centre-and-states-2296941.html

 

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The above Image is copied from voice of pensioners blog

Hello,

Advantage of Buying Car through CSD Canteen is the rebate in VAT Duty - which leads to lower prices

Been - GST going to replace in as standard uniform merged tax - Excise, VAT, NCCD, Infra Cess, Octroi too - unsure what will be the basis of price reduction of CSD Canteen cars in GST Regime

If going to be GST - then will there a percentage reduction as basis in GST
There was a news in Economic times couple of days back - stating that 50% of the GST will be refunded to CSD
If that actually turns out to be reality then - expect prices of Cars under CSD to come down majorly

As - 28% GST is the base rate of all cars (other than additional cess for 1% Hatchback, 3% on cars with engine > 1.5 Litre and 15% on cars with engine > 1.5 Litre) - with 50% reduction - the GST turns out to be mere 14%

This will lead to further price reduction of 3% to 4% on Petrol Hatch to almost 10%+ on SUV Cars with Engine > 1.5 Litre from the existing CSD Prices

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Webadmin
EX SOLDIERS SAILORS AND AIRMEN ASSOCIATION
#9/1c,Annai illam, TAMS colony,Bharathiar ITI compound,
 Dharmapuri ,Tamilnadu pin-6367002.
Reg No 58/2010.
http://www.essaaa.org                                                      essaaain@gmail.com

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