GST Council 20th meeting held on 5th August 2017 and taken some decisions as below -
1- E-Way bill could be rolled out from October 1 2017 and upto 10 KM no e-way bill is required,
2- Job work related to textiles and its products as per chapter 50 to 63 is now 5%
3- Services related to printing of newspapers books etc has now reduced fro 18% with full ITC to 12% & 5% with full ITC,
4- Works contract services provided to Government, local authority or governmental authority and in respect of post-harvest storage infrastructure for agricultural produce, mechanized food grain handling system has been reduced from 18% to 12% with full ITC,
5- Margin/commission payable to Fair Price Shop Dealers by Central/ State Governments is now exempt under GST,
6- Admission to planetarium reduced from 28% to 18% with full ITC,
7- Rent a cab services has given an additional option where 12% rate with full ITC has been given, however 5% GST with no ITC will continue,
8- GTA has been given an option where 12% GST with full ITC is available but GTA has to opt this option at the beginning of the financial year...one has to keep in mind that GTA need not to reg under GST if they are exlusivly dealing in supplies which are under RCM..
9- Small house keeping service providers (plumber/ carpenters) where providing services through E-com then such e-com has to pay GST,
10- It is now further clarified that partnership firm includes LLP also for the purpose of GST on legal services,
11- Legal service provided by an individual, firm (including LLP), senior advocates to a BUSINESS entity will be under RCM,
12- FIFA related activities & some govt scheme e.g. PMFBY & RWCIS has now exempted from GST..
Please refer notification in full http://www.cbec.gov.in/resources//htdocs-cbec/gst/Decisions-in-20th%20-GST-council-meeting.pdf
1- E-Way bill could be rolled out from October 1 2017 and upto 10 KM no e-way bill is required,
2- Job work related to textiles and its products as per chapter 50 to 63 is now 5%
3- Services related to printing of newspapers books etc has now reduced fro 18% with full ITC to 12% & 5% with full ITC,
4- Works contract services provided to Government, local authority or governmental authority and in respect of post-harvest storage infrastructure for agricultural produce, mechanized food grain handling system has been reduced from 18% to 12% with full ITC,
5- Margin/commission payable to Fair Price Shop Dealers by Central/ State Governments is now exempt under GST,
6- Admission to planetarium reduced from 28% to 18% with full ITC,
7- Rent a cab services has given an additional option where 12% rate with full ITC has been given, however 5% GST with no ITC will continue,
8- GTA has been given an option where 12% GST with full ITC is available but GTA has to opt this option at the beginning of the financial year...one has to keep in mind that GTA need not to reg under GST if they are exlusivly dealing in supplies which are under RCM..
9- Small house keeping service providers (plumber/ carpenters) where providing services through E-com then such e-com has to pay GST,
10- It is now further clarified that partnership firm includes LLP also for the purpose of GST on legal services,
11- Legal service provided by an individual, firm (including LLP), senior advocates to a BUSINESS entity will be under RCM,
12- FIFA related activities & some govt scheme e.g. PMFBY & RWCIS has now exempted from GST..
Please refer notification in full http://www.cbec.gov.in/resources//htdocs-cbec/gst/Decisions-in-20th%20-GST-council-meeting.pdf
No comments:
Post a Comment