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The GST council has lowered the tax rates on vehicles purchased and leased to a record 65 percent of the applicable GST rates even including compensation cess.
In the 22nd meeting of GST Council which was held on 6th October 2017, the council decided to withdraw Gems & Jewellery industry from the scope of prevention of Money Laundering Act (PMLA).
Find all the latest updates on GST council meetings held after the implementation of goods and services tax. The latest 31st GST council decides about GST new return filing system, GSTR forms revisions, GoM meeting along with GST slab rate reduction.
It is now in the hands of GST council and all the Group of Minister (GoM) to decide the further sequence of tax refunds of Integrated goods and services tax.
To load off the GSTN glitches in return filing and pending issues, the Confederation Of Indian Industry (CII) urged the government for some revisions in return filing due dates and regulations.
The new guideline has mandated for tax base division between the centre and the states by the Goods and Services Tax (GST) Council. The move is taken to make the clear distinction between authorities and for better implementation of administration in the new Indirect tax system.
GST council chaired by Finance Minister Arun Jaitley, it is expected that the next council meeting will held on 24th October in New Delhi and the council members will discuss the rates of remaining 60 items.
The GST Council on 21st meeting in Hyderabad, head by Finance Minister Arun Jaitley with state counterparts, stated clearly to start registration for liable persons for tax deduction at source(TDS) and tax collection at source(TCS) from 18th of September.
According to a senior official in Telangana Government, the next GST Council Meeting is scheduled on 9th September in Hyderabad. This is the third meeting which is organized by the GST Council
