News
GST debate now continues on categorisation of products
- Date:
- March 26, 2017
- Source:
- EconomicTimes
Is Parachute hair oil or edible oil? Is KitKat a chocolate or a biscuit? Is a Vicks tablet medicament or confectionery? For the taxpayer and the tax collector, this is much more than an exercise in semantics — hundreds of crores of rupees ride on the exact categorisation. As the government moves closer to rolling out the goods and services tax (GST) on July 1, many such distinctions are bein…