Page 31 - Gst Council

GST Council likely to lower GST on under-construction homes to 5%

Currently, the Goods and Services Tax is levied at 12 per cent on payments made for under-construction property or ready-to-move-in flats

GST Council cuts rates on 23 items including TVs, no relief on cement

The Council pruned the list of items under the peak 28% slab by removing six goods, leaving only 28 now

GST Council allowing dual jurisdiction over assesses worrying traders: CAIT

GST Council in 2017 had decided that both the central and state tax administration would have the power to take intelligence-based enforcement action

GST council meet: Panel of 7 finance ministers to decide on calamity tax

Centre vows to help states reduce revenue shortfall to near-zero in five years

Needed decisions by GST Council

The Council is moving towards a three-tier structure of five, 12 and 18 per cent, though it could be a while before all items come into these slabs

Right move, wrong way

GST Council decisions are sound, but don't follow norms

National GST appellate tribunal on anvil, Council to decide on July 21

The Centre and state governments would have to amend the GST law if the proposal is approved by the Council in its next meeting on July 21

Council may consider bringing jet fuel, natural gas under GST ambit

However, fitting the two products in the 5, 12, 18 and 28 per cent GST tax slabs is proving to be difficult

GST Council asks Centre, states to quickly set up appellate authorities

So far only 12 states, including West Bengal, Gujarat, Madhya Pradesh, Rajasthan, Tamil Nadu and Uttar Pradesh, have issued notifications for setting up AAARs

GST Council okays single return a month; differences emerge on sugar cess

Two groups of ministers (GoMs) will deliberate further on these matters and submit their reports in a fortnight

GST Council: Slow process of return simplification dismays Kerala FM

Kerala finance minister Thomas Isaac wonders why the Council is debating the return filing process nine months after the GST implementation

Govt extends deadline for claiming transitional credit to June 30

Accordingly the GSTR-1 for April will have to be filed by May 31, while that for the month of May by June 10. For the month of June, it has to be filed by July 10

E-way bill roll-out from April 1; no decision on GST return simplification

The GST e-way bill, to track the inter-state movement of consignments worth over Rs 50,000, will be rolled out on April 1, two months after the first attempt to introduce it

25th GST Council meet: Here's the complete list of revised items

Items cover the whole gamut from bottled water to natural gas

GST Council meet: Govt may simplify returns filing norms tomorrow

The committee has made as many as 16 recommendations based on the suggestions of the advisory panel

GST Council approves mandatory inter-state e-Way Bill compliance from Feb 1

E-way bill for intra-state will be compulsory from June 1, the source added

GST may cover fuel, power: Sushil Modi

Said electricity, real estate, stamp duty, and petroleum products should become part of the GST

Hotel, restaurants body meets GST Council over tax rates

The Federation of Hotels & Restaurants Association of India today said the body met with GST Council members, including state finance ministers, to press for rationalisation of tax rates for the industry. "We have met the GST Council, which was represented by the Union Revenue Secretary Hasmukh Adhia. We have also met a couple of state Finance Ministers separately and put forward our demands," Federation of Hotels & Restaurants Association of India (FHRAI) President Garish Oberoi told PTI. The association is seeking reduction of GST to 12 per cent on all categories of restaurants from the differential rates of different segments, he added. Currently, restaurants with no AC and no bar attract a GST of 12 per cent, while all other restaurants fall under the 18 per cent bracket. "We also heard a news that GST Council was planning to remove the input credit system for the restaurants. This will hurt the industry and it will be against the basic principle of GST. It ..

GST Council may prune items in 28% slab, simplify returns tomorrow

The Council, comprising of state FMs, is also set to review the GST returns filing cycle and make it taxpayer friendly

GoM set up under Assam FM Himanta Biswa Sarma to review composition scheme

Currently, GST is levied at 12 per cent on non-AC restaurants while it is 18 per cent in air-conditioned ones