GST Council to implement a ranking of businesses based on their tax payment track record from January
The GST Council on Friday raised the composition scheme threshold for businesses to Rs 1 crore
Decision to bring down rate for AC restaurants to 12% and reduction of tax slabs for around 60 items to 5% from 12% will help boost household spending and further economic
The changes were made three months after rollout of the new indirect tax regime
SMEs complained of tedious compliance burden under GST that was supposed to be a simple indirect tax regime which replaced over a dozen Central and state taxes
The panel decided to reduce tax rates for items including diesel engine parts, man-made yarn, ready-to-eat snacks, plastic and paper waste
Kerala Finance Minister Thomas Isaac said exporters will get IGST relief and e-wallet facility for six months
The GST Council is likely to give a major relief to exporters as well as small and medium enterprises