The Government reduces tax rate on 66 items, increases the composition limit from INR 5 million to INR 7.5 million, and finalises accounts and records rules.
In brief
At its sixteenth meeting, the GST Council decided to reduce the tax rates on 66 items out of the 133 items for which it had received representations. Read More »
The indian Government is confident of 01 July as the roll out date. It finalises rules relating to return and transition provisions and approves the rate structure on goods and services which were not decided earlier.Read More »
Even though no progress was made in the last GST Council meeting on 2 and 3 December 2016, last month had seen substantial developments on the GST front. Few of these have been summarised below for reference:
(i) Rates decided
In the meeting held on 3 November 2016, a multi-tiered GST rate structure was finalised as under:Read More »
As part of the changes to India’s tax landscape and in alignment with BEPS Action Paper on the Digital economy (eCommerce, internet businesses, etc), the Government of India has made certain key amendments to the Indirect tax law as applicable to B2B and B2C Online as well as eCommerce companies. Read More »
GST will be introduced in India on 1 April 2017, will you be ready? Please join our partners from our indirect tax practice in India, Pratik Jain and Denis McCarthy with our international indirect tax specialist from London, John Shuker to discuss the latest developments on the introduction of GST in India.Read More »
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Michaela Merz 