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May 31st, 2008 · No Comments

Central Sales Tax to be cut to 2 per cent

The latest news is that the Union Ministry of Finance of India has cut the Central Sales Tax ie, CST by 2%. As per the notification issued by the Finance Ministry, Mr P Chidambaram said in New Delhi that the Central Sales Tax, a levy on inter-state sale of goods, will be reduced to two per cent from the current three effective from 1 June 2008, which is a delay of two months from the earlier proposal. ”The Finance Ministry issued a notification today, bringing into effect from June 1, 2008 the new reduced rate of CST of 2 per cent on inter-State sales of goods,” an official release said.

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