Posted November 18, 2018 01:21:56 The government will soon be implementing GST, which will see an excise duty on freight of up to 30 per cent on goods from the US and other Asian countries.
The GST Council, comprising representatives from the finance ministry, the ministry of external affairs, and the department of industrial policy and promotion, has approved the policy.
According to sources in the department, the new rate will be applied in the next few weeks.
The council’s decision to increase the duty to up to 35 per cent will come into effect on December 1, 2019.
According to the policy, the higher rate will apply from January 1, 2020.
The US has been pushing hard for GST, and in the coming months it will push for the inclusion of Indian goods into the GST regime.US Secretary of Commerce Wilbur Ross has said that the US is ready to negotiate with India on the issue, but it will be up to India.
“There are going to be certain items which are going through the customs process.
We are ready to talk with India about certain things.
That will be the only way to solve the issues,” he said at the National Association of Manufacturers (NAM) annual convention in Houston, Texas.