Home » GST » Glimpse of GST Council meeting held on 18th June, 2017

GST Council meeting held on 18th June, 2017GST council headed by Mr. FM-Arun Jaitely ruling out any deferment for July 1st GST rollout , after GST council meeting held on 18th June, 2017, says ” Don’t have the Luxury of Time”. In meeting council discussed and approved set of 6 draft rules related to advance ruling, appeals,assessment, anti-profiteering and fund settlement including e-way bills, GST returns and tax rates.

  • Official GST launch will take place in Midnight of 30th Jun 2017 and beginning of 1st July 2017 with an official ceremony.
  • GST council give relief to Five Star hotelier by deciding 28% GST on room tariff of above Rs.7500/- per day from the earlier threshold of Rs. 5000/- per day. Restaurants in five-star hotels will also be taxed at a GST rate of 18 percent, down from 28 percent earlier and identical to stand-alone air-conditioned restaurants.
  • Govt lotteries will be taxed at 12 per cent and Private lotteries will be taxed at 28 per cent.
  • Council has also approved anti-profiteering rule. An “anti-profiteering” clause provided in CGST and SGST laws,to ensure that business passes on the benefit of reduced tax incidence on goods or services to the consumers.
  • GST network to take 4 to 5 months to prepare E-way bill.
  • After hearing concern over lack of preparedness of the IT infrastructure from various business houses and community,Council decided to give relaxation of 2 months for filling of GST Returns.

In last meeting held on 11th June, 2017, GST council had reduced GST rate of 66 items out of 133, Today council ruled out any further revision of GST rates including ketchup, instant food mixes, pickles, tractor components, computer printers and insulin.


Print Friendly, PDF & Email

Leave a Reply

Your email address will not be published.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

Name
Email
Website