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Goods and Services Tax Rate and Policy

Goods and Services Tax - GST - Dated:- 16-3-2018 - Based on the various representations received from the trade and industry, the GST Council has recommended a number of measures pertaining to change in including the GST rates on eateries and small t .....

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nder the composition scheme from ₹ 75 lakh to Rs. one crore for 27 States (including Jammu & Kashmir and Uttarakhand). Increase in the aggregate annual turnover threshold for eligibility under the Composition scheme from ₹ 50 lakh to .....

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year provided with an option to file quarterly Returns. Registered persons making supply of goods to make payment of tax on issuance of invoice and not at the time when advances are received. Suspension of the application of reverse charge mechanism .....

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le goods to be considered for eligibility for the Composition scheme for traders. Supply of exempted services by Composition taxpayer will be allowed and the same will not be taken into account while computing the aggregate turnover. Amount of late f .....

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ober, 2017. The amount of late fee payable for delayed filing of return in Form GSTR-3B by other taxpayers reduced to ₹ 50/- per day (Rs. 25/- per day each under CGST & SGST Acts) subject to maximum ₹ 5000/- under each Act from Octobe .....

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ices: The GST rates on goods and services were fitted into 5 slabs i.e. Nil, 5%, 12%, 18% and 28%, largely based on the pre- GST cumulative indirect tax incidence both of Central and State taxes, including the embedded taxes, which are subsumed in GS .....

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om the trade and industry regarding GST rates on goods and services. Based on these representations the GST Council reviewed the rates on goods and services in its subsequent meetings including GST rates on eateries which has been reduced from 18% wi .....

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