FLASH NEWS

GST Council decides to exempt RTI-related services + reduces rate on construction of metro projects to 12% + 5% without ITC on housekeeping service through ECO + 5% rate on tailoring service + 18% rate now on entry ticket to water parks or theme parks

GST on Services - ITC allowed to tour operators in same line of business + hikes exemption limit to Rs 7500 per month for Resident Welfare Members + exempts legal services provided to Governments & Govt entities + Rate reduced on transportation of petroleum products to 5% + Rate on job work services to leather and footwear reduced to 5% + exempts transport service provided to educational institutions

GST Council decides to divide Rs 35000 Crore IGST collections between Centre & States, provisionally

17 lakh Composition taxpayers paid only about Rs 307 Crore; Council expresses disappointment

Legislative changes - Council receives demand to introduce Sec 9(4) only for Composition taxpayers

GST Council accepts Fitment Committee recommendations to reduce rates on 29 goods + 53 services; New rates to come into force from Jan 25

GST Council accepts Sarna Committee report on handicraft items; Fitment Committee to decide tariff for 40 such items

GST Council finally decides to stop at uploading of Sale Invoices in GSTR-3B till alternative is worked out and approved at next meeting through video conferencing + e-Way Bill - 15 States to roll out intra-State system on Feb 1, 2018

 

TOP NEWS

GST Council shifts focus on anti-evasion measures; Tax rates reduced on 29 goods & 53 Services

GST Council is quite sensitive to exporters' problems, says Vice President

CII demands C Form be continued till Petroleum & Natural Gas brought under GST

CBEC creates two New Customs Commissionerates; 1044 posts diverted from CGST units

 

GST COUNCIL

Policy Changes recommended by the 25th GST

Recommendation made on GST Rate changes on services by the 25th GST Council Meeting

Recommendations For Changes In Gst/igst Rate And Clarifications In Respect Of Gst Rate On Certain Goods - As Per Discussions Held In The 25 Th Gst Council Meeting

 

CGST CIRCULAR CORRIGENDUM

CGST_Cir_28_Corrigendum

 

ARTICLES

TIOL

Rebooting of GST - A TIOL word of caution for the Council

GST for 'Outdoor catering' should be reduced; No GST to be levied on Sale of Motorcars to employees after use

GST Circular 28 - Board makes a 'mess' of college hostel mess fees

Reversal of ITC credit u/r 42 of CGST Rules 2017 - formula needs correction

Helpdesk should respond on time and give correct guidance

Settle disputes of earlier regime

Customs duty on empty cans/caps should be rationalised

TOG

A nuanced approach to Works Contract under GST