Saturday, Oct 19 2019 | Time 22:54 Hrs(IST)
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  • Fadnavis addresses 65 rallies on last day of election campaigning
  • Recounting govt's dev schemes,Amit Shah says Modi is uplifting tribals unlike Cong's 'use & throw' policy
  • India should join hand with China to isolate Pakistan: Subarmaniam Swamy
  • NSCN (IM) reposes faith in PM Modi, insists on Naga unity
  • BJP is synonymous with deceit: MP CM
  • Campaign ends for Assy polls in Haryana, Mah, bypolls in 53 Assy seats in 15 states
  • Mah campaign trail winds down for Monday's Assembly polls
  • Indian BSF showed hegemoni, says Bangladesh FM
  • Mah assy polls:Campaigning ends; 3,239 candidates in fray for 288 seats
  • Heads of Foreign Missions to visit Golden Temple, Amritsar on Oct 22
  • Development of NE priority of Modi Govt: MoS Nityanand Rai
  • Haryana assy polls : CEO urges people to vote to ensure their participation in democrarcy
  • Armies of India and Japan commence exercise Dharam Guardian in Mizoram
  • Campaign comes to an end for by elections to one Lok Sabha and five assembly seats
States » North


HP CM hails decision of cutting down of corporate tax to 22 pc

Shimla, Sep 20 (UNI) Chief Minister Jai Ram Thakur said that various announcements for the economic growth and the decision to implement important economic reforms made by Union Finance Minister during GST Council meeting held at Goa on Friday was historic.
The Chief Minister in his press statement said that the decision to reduce the corporate tax to 22 per cent is commendable and these announcements will have far reaching results and it will improve the economic situation of the country.
Chief Minister said that under the dynamic leadership of the Prime Minister Narendra Modi the country is heading towards becoming a biggest economy of the World. He said that for this the business world, young entrepreneurs and MSME areas would play important role.
He said the GST Council has recommended reduction of GST on hotels. Now rate of tax on hotels with room tariff upto Rs 1000 will be nil, the rate of tax between room tariff of Rs 1001 to 7500 will be 12 per cent. The rate tax for rooms with room tariff above Rs 7501 will now be 18 per cent. He said the elimination of 28 per cent slab entirely for hotels and rationalisation of GST rates on hotels will lead to greater investment in this sector and help in growth of tourism in the state.
The Chief Minister said that GST decisions taken in the council meeting and tax exemption will increase investment, employment and economic activities under 'Make in India' and will also increase revenue generation. He said that to accelerate the economy of the country this kind of big decision has been taken for the fifth time within four weeks.
Jai Ram Thakur hoped that this decision would bring positive results and India would emerge as a strong economy. He said that soon after the decisions taken by the council today, there has been a jump of 1900 points in the stock market, which is a good sign for the economy.
UNI ML ASN 2010
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