Payment Failure - GST Library by TaxReply.com
Home      Free WhatsApp Updates      Have a Query?      Other Services      Vacancy for Trainee
Login | Register    

Latest amendments in GST enacted on 07.03.2019

    

Recommendations of the 33rd GST Council meeting held on 24.02.2019

    

GSTR-3B due date for January 2019 has been extended upto 22.02.2019

    

New GST Input-Output Set off Rules w.e.f. 01.02.2019

    

Cabinet approves creation of the National Bench of the Goods and Services Tax Appellate Tribunal (GSTAT)

    

Delhi High Court stays demand in the case of Hindustan Unilever (HUL) for Profiteering imposed by NAA

    

Major decisions taken in 32nd GST Council Meeting

    

Bank account details are not required for GST Registration now

    

Standard Operating Procedure on TDS updated as on 27.12.2018 issued by CBIC

    

Guidelines and procedure of applications for financial assistance under the Central Scheme named Seva Bhoj Yojna for reimbursement of central tax and Central Government share of integrated tax paid on the purchase of raw food items.

    

31st GST Council Meeting held on 22 December 2018 - Rate changes and clarification in Goods

    

31st GST Council Meeting held on 22 December 2018 - GST rate on services

    

31st GST Council Meeting held on 22 December 2018 - Certain important issues referred by GST Council to various Committees / GoM

    

31st GST Council Meeting held on 22 December 2018 - In-Principle approval given for Law Amendments

    

31st GST Council Meeting held on 22 December 2018 - Formation of Group of Minister as Recommended by the GST Council

    

31st GST Council Meeting held on 22 December 2018 - Recommendations in Return Filing and Procedural Changes

    

31st GST Council Meeting held on 22 December 2018 - Recommendations in GST Rate Changes

    

Directorate General of GST Intelligence arrested the promoters of two Mumbai-based textile firms

    

Prime Minister promises relief in GST on many products from 28% to 18%

    

Development of new return filing system and sharing of data by GSTN with tax authorities

     View all
View all
Home       Login    Pay
TaxReply.com - Free Tax updates for All
GST Library TM
About GST Library
GST Library Pricing
Free Trial
Full Site Search
GST Act / Rules
GST Act / Rules - Latest Amendments
GST Amendment Statistics
GST Notifications / Circulars Press Releases +
National Anti-Profiteering Authority
GST Case Laws
↳ GST AAR Orders
↳ GST AAAR Orders
↳ GST NAA Orders
GST Forms   
E-way Bill
↳ E-way Bill Notificaitons
↳ E-way Bill News
↳ E-way Bill Rules
↳ E-way Bill FAQ
GST Rates for goods and services
GST Calendar / Due Dates
GST Set-off Calculator
GST News / Articles
Finance Bill

Prime Minister Narendra Modi on Tuesday has promised to ensure that 99% of items attract GST at 18% or lower, leaving luxury items only to be taxed at the highest rate of 28%. Speaking at the Republic Summit in Mumbai, he said that he had given his suggestions to the federal indirect tax body, the GST Council, which is set to meet in New Delhi on Saturday. Modi’s promise would require cutting tax rates on about 25 categories to 18% or lower from 28%. Currently, 39 of the around 1,378 tariff categories are taxed at 28%.

If the Council does clear the tax cuts, it will be the biggest reduction since July, when the federal body slashed tax rates on 14 product categories from 28%, most of them to 18%, besides abolishing GST on items such as sanitary napkins.

“GST has given the society and entrepreneurs a simple and efficient free of inspector raj. Broad-based consultations have led to changes in GST over time. Today, it is settled to a large extent. We are reaching a situation where 99% of items could be brought in 18% GST rate or lower. We are going in the direction of leaving only luxury items or in the 28% slab,” said the Prime Minister.

“The political dynamics and the priority of the council are fast changing,” said the official cited earlier.

The highest slab of 28% was originally envisaged only for a few luxury and sin products, but was made applicable to several other items. According to experts, the pruning of this slab is desirable for the manufacturing sector. “From a policy standpoint, it will be good if this category is limited to only a few select products and it will be interesting to see if the GST Council takes this decision in the upcoming meeting.”

 



ID: 471 | Date 19-12-2018 | Posted By:

CA Mohit Jain

Comments


It is also suggested that if late fees is waived on all gst return up to Dec18.it will be most admirable step for trade n industry.and more traders will encourage to file regular GST Returns in time.
It is also suggested that one opportunity be given for file revise return up Dec18

Comment By: P k mangla | Date: 19-12-2018
It is also suggested that if late fees is waived on all gst return up to Dec18.it will be most admirable step for trade n industry.and more traders will encourage to file regular GST Returns in time.
It is also suggested that one opportunity be given for file revise return up Dec18

Comment By: P k mangla | Date: 19-12-2018
It is also suggested that if late fees is waived on all gst return up to Dec18.it will be most admirable step for trade n industry.and more traders will encourage to file regular GST Returns in time.
It is also suggested that one opportunity be given for file revise return up Dec18

Comment By: P k mangla | Date: 19-12-2018


Your Reply


478120