TOP NEWS

GST rate reduced from 18% to 12% on construction services provided to Govt or other authorities

GST Council extends GST returns filing dates; Date for Composition Levy also extended

GST

Decisions of the GST Council on Services taken in the 21st GST Council Meeting held on 9 Sept 2017

List of goods where changes in GST rates have been recommended by the GST Council

Increase in Compensation Cess rates of motor vehicles

NEWS FLASH

GST rate reduced from 18% to 12% on construction services provided to Govt or other authorities

GST Council decides Place of supply for satellite launch services to be outside India; to be zero-rated; If it is India, to be taxable

GST Council's recommendations - from 12% to 5% tax on Corduroy fabrics + from 12% to 5% on Saree fall + from 18% to 12% on idli batters + from 12% to 5% on textile caps + from 3% to 0.25% on rough industrial diamonds + from 28% to 12% on rubber bands + NIL rate from 28% on idols made of clay

GST Council decides to lower tax rate on Duty Credit Scrips from 12% to 5%

Demonetisation - Chidambaram dares PM to admit failure

GST Council extends GST returns filing dates; Date for Composition Levy also extended

GST - Registration for persons liable to TDS and TCS to begin from Sept 18

GST Council decides to allow REVISION on TRANS-01 + extends time period by a month for TRANS-01 filing

Telangana CM's demand accepted; GST Council agrees to expand definition of Works Contract to be carried by Govt agencies for Govt projects

GST Council decides to set up Committee of Officers to recommend steps for exports promotion + GSTR-3B to be filed for six months till December + Large taxpayers to file GSTR-1 by Oct 3, 2017

GST on Auto Sector - No hike in tax rate for Small cars + Mid-segment cars to pay 2% more + large cars to pay 5% more and SUVs 7%; No change for hybrid vehicles

No GST on khadi sold from Kendriya Bhandar Stores

GST Council decides to lower tax rates on many items such as custard powder, plastic rain coat, roasted gram etc + decides to amend provisions relating to brand name to overcome deregistered trade mark modus operandi by food items producers

GST Council's 21st Meeting - FM says 70% assessees have filed returns for July + Ministerial Panel to look into GSTN technical glitches + grants relief to handicraft sector by allowing inter-state trade