20th GST Council Meeting

Looking for the updates of the 20th GST Council Meeting? Here are the most important ones. E-Way bill should be mandatory for movement of goods worth more than Rs. 50,000. The anti-profiteering mechanism will get a kick start by appointing state wise committees. Job work on the entire value chain in the textile sector to be taxed at 5%. Earlier some job work related to the textile sector was taxable at 18%. Rates on tractor parts brought down to 18% from 28%. Government work contracts like roads, bridges, canals, etc.,will now be taxable at 12% with credits. Earlier they were taxable at 18%. Commission payable to Fair Price Shop Dealers by Central/ State Governments will be charged to nil rate earlier it was taxable at 18%. GST rate on admission to planetarium would be reduced from 28% to 18%. Rent-a-cab service would also be allowed to pay 12% GST with full ITC. Goods Transport Agency Service (GTA) would also be allowed to pay 12% GST with full ITC under forward charge. (However, the GTA has to give an option at the beginning of the financial year). In the case of small house-keeping service providers (plumbers/carpenters) providing services through E-Commerce Operators, liability to pay GST would be placed on E-Commerce Operators. Hope this article was helpful. Refer to the topics discussed in the 21th GST council meeting About EbizFiling.com: EbizFiling.com is a motivated and progressive firm managed by like-minded people. It helps a variety of small, medium and large businesses to cater to all compliance requirements of Indian Laws. Get in touch for a free consultation on info@ebizfiling.com or call 9643203209.

20th GST Council Meeting

Highlights of 20th GST Council Meeting dated 5th August 2017