India might come up with a goods and services tax (GST) relief package to counter the impact of Covid-19 and help prop up the economy. The package might include GST suspension for six months to worst hit sectors like restaurants, aviation and hospitality as well as a lower rate for the real estate sector. Other proposals include a switch to a cash-based principle of levying tax from the current invoice-based system and providing GST relief on sales for which payment is not received due to the lockdown by treating those as bad debts. However, a final decision is yet to be taken up by the GST Council.
6-month GST payment freeze for worst-hit sectors, a lower rate for realty among Covid options mulled
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