The GST Council has released a set of draft amendments in the CGST Act, IGST Act and GST (Compensation to States) Act for public comments, which are requested to be submitted by 15 July, 2018. The significant amendments proposed and its impact are described in this tax insight.Read More »
In its 25th meeting held on 18 January 2018, the GST Council has made many recommendations granting relief on the GST rates applicable on goods and services in many sectors. The Council has also recommended issuance of certain clarifications relating to GST rates and taxability of certain goods and services.Read More »
The GST Council held its 24th meeting via video conference on Saturday, 16 December 2017. In the meeting, the Council finalised the dates for implementation of e-way bill system. The decisions taken in the meeting are as under:Read More »
The CBEC has issued notification nos. 55-66/2017-Central Tax, Circular no. 16/16/2017-GST, 17/17/2017-GST and order no. 9-10/2017-GST, all dated 15 November, 2017. While majority of the amendments give effect to the changes announced in the 23rd GST Council meeting, there are a few other significant relaxations, Read More »
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. Read More »
Eleventh meeting of GST Council – GST Council clears CGST and IGST law
In a constructive meeting of the GST Council, various important aspects have been finalised. The CGST and IGST laws have been formally approved by the GST Council.Read More »
Significant progress has been made on the Goods and Services Tax (GST) front in the last two meetings of the GST Council (held on 22 and 23 December 2016, and 03 and 04 January 2017).
The draft Central GST, State GST and Integrated GST laws have been mostly finalised (except a few open areas) and have been sent to the Ministry of Law for review. Read More »