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News GST

  • Jan 19, 2018
  • GST Council Meet: What happened in terms of invoice filing and rate cuts?

    Concerned over a trend of falling revenue, the Goods and Services Tax (GST) Council on Thursday resolved to bring in a clutch of anti-evasion measures but refrained from resuming the suspended system of three comprehensive returns, in order not to add to the compliance burden the taxpayers are vexed about. It also reduced the tax rates on as many as 29 goods, including old and used cars, SUVs and other vehicles, drinking water in 20-litre bottles, LPG supplied to households by private distributors, bio-diesel, bio-fuel buses, a clutch of pesticides and diamonds & precious stones.

    Source - http://www.financialexpress.com