The new return filing system would be rolled out on a trial basis on April 1, 2019, while it would be made mandatory from July 1, 2019, -on the second anniversary of GST
Services supplied by banks to basic savings accounts, PMJDY exempt from GST
The reduction of GST on film tickets, exceeding Rs 100 is reduced to 18% from 28% and up to Rs 100 to 12% from 18%
Finance Minister Arun Jaitley said the panel discussed the proposal from Kerala to levy Calamity Tax
Return filing to get easier: The buyer will not have to upload any invoice and can simply view the invoices uploaded by the seller and confirm them
In non-payment of taxes, the authorities will follow it up with the seller, based on the liability generated from the invoice upload
The 27th GST Council meet will also mull over the proposal of converting GSTN into a government company
The changes will be effective from January 25; 15 states to start intra-state e-way bill from February 1
The changes will be effective from January 25; 15 states to start intra-state e-way bill from February 1
To ease the flow of funds for both the Centre and states, the Council also decided to distribute Integrated GST (IGST) of Rs 340 billion equally between them
The GST Council is also considering a 'staggered' system where bigger companies would be allowed to file their taxes first
Handlooms, the lifeline of over 2.7 million households, is also being taxed for the first time in independent India
Chaired by Arun Jaitley, Council is likely to raise sales ceiling for small businesses from Rs 1 crore to Rs 1.5 crore
He tweeted: 'Congress FMs letter exposes structural flaws in design and implementation of GST, govt can no longer duck these issues'
Traders raised this demand as the 23rd meeting of the GST Council started in Guwahati on Thursday
The party said the reduction in the number of slabs and complexity of the GST regime were yet to be addressed
GST Council cuts rates on 27 items, eases compliance burden on small firms; working capital relief for exporters; e-way Bill deferred till April
The meeting comes after Narendra Modi, Amit Shah, and Arun Jaitley huddled together to discuss economic and political issues
Informal sources of working capital (for smaller firms) has dried up
GST Council expected to look at ways to provide relief to exporters in terms of faster refunds as well as compliance