GST Council approves rate of 18% while withdrawing exemption on cheques, lose or in book form: Sources
As per the recent tweet by ET NOW, sources say the GST Council approves rate of 18% while withdrawing exemption on cheques, lose or in book form.
* GST Council approves rate of 18% while withdrawing exemption on cheques, lose or in book form
* GST Council approves withdrawing exemption on services by department of posts except post cards, envelopes less than 10 gm
* Council approves to increase GST on e-waste from 5% to 18%
* Council agrees to withdraw exemption to services provided by RBI, Sebi, IRDAI, FSSAI
* Council approves hotel accomodation on below Rs 1,000 be taxed at 12%
* GST Council approves withdrawal of GST exemptions on a number of B2B supplies
* Council approves withdrawing GST exemption on storage and warehousing of taxable goods like sugar, natural fiber
* Council approves withdrawal of exemption on services like fumigation of warehouses
* Council approves withdrawal of exemption to business class air travel for northeastern states
* Council approves withdrawal of exemptions on road and rail transport, when such services are input for business
* Council approves withdrawal of exemption on services by way of slaughtering of animals
* GST Council disallows input tax credit refund on account of inverted duty structure in edible oils, coal
* GoM on rate rationalisation had observed substantial refund for edible oils, coal even though rate of inputs do not suggest inversion
* GST Council approves to replace the term ‘branded’ with ‘pre packaged and labelled’ for retail sale to avoid disputes
* Alert: Branded cereals, food attract 5% GST currently
* Council approves continued exemption for food items, cereals sold loose or unlabelled
* Council approves increasing GST on LED lamps, ink, knives, blades, power driven pumps, dairy machinery from 12% to 18%
* Council approves increasing GST on milling machinery for cereals from 5% to 18%
* Council approves increasing GST on solar water heater, finished leather from 5% to 12%
* GST Council approves correcting inverted duty structure on some items
* GST Council approves increasing rate on work contract services supplied to govt, local authorities to 18% to correct inversion
* CGST Council approves increasing rate on specified goods for petroleum from 5% to 12% on input goods to correct inversion.
By: via @AlliesFin Serve Stock Market
