Search results for: gst council

Finally, the GST council has provided some relief to the hospitality industry through the decision taken in the recent 28th GST council meeting held on 21st July.

The 29th GST council meeting has discussed various significant issues related to the MSME sector. The small industries are continuously approaching the finance ministry for the resolution of their issues which has been discussed in the GST council meeting.

The next GST Council meeting is going to take place on July 21. A proposal is about to come in front of GST council considering the establishment of the National Appellate Tribunal in Delhi

The 28th GST Council Meet scheduled for this Saturday could make a final call on the Vehicle Scrap Policy. Reportedly, the policy is aimed at giving a major boost to the replacement of commercial vehicles older than 20 years with new ones at minimum GST.

The Central Government might reduce the luxury tax slab of 28% on construction items ahead of the 2019 election. The move will be aimed to stimulate the currently dull construction sector.

The GST Council committee has announced all the decisions taken in the 28th GST council meeting which are very significant issues of the GST.

The annual GSTR forms are expected to roll-out in the upcoming GST council meeting as the finance ministry is working hard to complete it as soon as possible.

Recently, the GST council had decided to slash some more tax rates on around 54 services and 29 items in a meeting. Presently, there are 4 GST slab rates namely, 5 percent, 12 percent, 18 percent and 28 percent.

After a thorough analysis of GST returns and tax data received so far, the GST Council has started issuing scrutiny notices to businesses who have not paid tax in the line of their final tax returns.