CACSGST

GST Council meeting update of 5th August 2017

GST Council in its 20th Meeting on 05 AUG 2017 (SAT) has approved the following:

# Authorize the FinMin to increase Cess on Motor Cars exceeding 1500CC or 4 Meters in length to 25% Vs 15%.

# E-Way bill will be implemented w.e.f. 1st OCT 2017.
• No e-Way bill for exempted goods.
• No e-Way bill for goods travelling within a radius of 10 kms.

# Anti-profiteering mechanism will be implemented by appointing state wise committees.

# Changed / Reduced GST Rates on the following items:
• Textile Job Works @ 5%
• Job work for printing of books, newspapers, etc. @ 5% (if Input used are supplied by the publisher), otherwise taxed @ 12%.
• Works Contract for Government @ 12% with full ITC.
• Agriculture Services provided post-Harvest and storage of food grains @ 12% Vs. 18%
• GTA given option to pay 12% GST with full ITC under forward charge or 5% GST without ITC (The option to be chosen at the beginning of financial year)
• Rent a Cab Operator – Given option to pay GST @ 12% with full ITC or 5% GST without ITC.
• Tractor Parts @ 18 % Vs. 28 %

KnowInfoNow.com is a trusted financial resource with over 25 years of expertise, dedicated to delivering essential insights for tax professionals, taxpayers, and the general public. Our platform is built to simplify financial management and empower…

Related Posts

Leave A Reply

Your email address will not be published. Required fields are marked *