GST rates on sweets and related items have been significantly reduced, bringing relief to both consumers and small business owners. NDTV spoke to a sweet shop owner, who welcomed the move, highlighting that many items which were previously taxed at 12%, 18%, or even 40% are now down to 5% GST. This includes dry fruits, bakery goods, and packed namkeen. The price cuts, driven by lower taxes, are already being passed on to customers, making everyday treats more affordable.
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A taxpayer who files late, makes an error or delays payment will face recovery, interest and a proportionate penalty, but nothing beyond that.
The meeting is not expected to consider any broad rate changes, with only a limited set of rationalisation and clarification issues on the agenda, the sources said.
The GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state ministers, will, in its meeting on Thursday, discuss changes in registration, returns, and refunds mechanism.
The film has been streaming on JioPlus Hotstar since October 2.
The difference in prices can influence consumer behaviour. Consumers may change brands, purchase occasions or quantities based on the price.
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