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GST Council may Lower Tax on certain Items if High Tax Collection Continues

Taxscan Team

The most powerful GST Council may think about lowering GST on some items of common consumption if high tax collection continues till December, said by...

President Promulgates Ordinance to Increase GST Compensation Cess on Large Cars & SUVs [Read...

Breaking: Govt Notifies E-Way Bill Rules [Read Notification]

Cabinet approves promulgation of the GST (Compensation to States) Ordinance, 2017

Govt to promulgate Ordinance to Increase GST Cess on Luxury Cars & SUVs

Tractors to attract 18% GST: CBEC [Read Notification]

The Central Government recently notified that 18 per cent GST is applicable to tractors. Earlier, a highest rate of 28% was applicable on tractors. Dissatisfied by the rates, the stakeholders had...

Transitional ITC under GST: Govt Explains Method for Computing Tax

GST Council had earlier decided to defer the filing of return in FORM GSTR-3 and had recommended the filing of return in FORM GSTR-3B. Accordingly, the Central Government vide notification No....

GST Council to Re-consider the Rates of 133 Products

The Goods and Services Tax (GST) Act, has implemented in the country from 1st July 2017. Under the new indirect tax regime, a four tax slab of 5, 12, 18 and 28 per cent has been introduced. Some...

National Anti-Profiteering Authority will be constituted within 3 Weeks, says CBEC Chief

The Central Board of Excise and Customs (CBEC) Chief, Vanaja N Sarna, in an interview with Business Line said that the pending issues of dual control and an Anti-Profiteering Authority will be...

GST has Hidden Benefits: Economic Survey II

Economic Survey 2016-17 Volume 2, laid in the Parliament on Friday stated that that the goods and services tax (GST) was complex while enumerating its ‘hidden benefits’ on the economy as a whole. It...

GST Council confirms Applicability of RCM on Legal Services

The 20th meeting of the GST Council held at New Delhi had confirmed the applicability of reverse charge mechanism on all legal services provided to business entities. It said that “To clarify that...

Major Decisions Taken by the GST Council on its 20th Meeting

The most powerful GST Council in its 20th meeting held on 5th August at New Delhi had took some important decisions including finalizing the rates on textile job works like stitching and embroidery,...

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