Michaela Merz

India – The Government confirmed the introduction of GST as from 01 July and finalises pending rules

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After the end of the seventeenth meeting of the GST Council, the Government has categorically reiterated the introduction of GST from 01 July.

Considering the preparedness of the Industry, the GST Council has relaxed the return filing timelines for the first two months after the introduction of GST. The GST Council also finalised five sets of rules (except e-way bills) and the rate of tax on lottery, in addition to amending the rate of tax for the hospitality industry. The decision on the E way bills has been deferred and in the interim period, the States are allowed to follow the existing way bills provisions. The new registrations under GST would start from 25 June. The Government also clarified that the provisional GST Number allotted to the taxpayers would be the final GST Number and this would not change.

Please click HERE to read the full News Alert.

 

Bildquelle: doozi  / pixelio.de

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