- Tag results for GST council
The GoM under Sushil Modi will look at finalising the simplified return filing system on February 24, which will be then taken up by the GST Council on March 10.
The Economic Survey warned and suggested the need for "dramatic" improvement in irrigation, use of new technologies and better targeting of power and fertiliser subsidies.
GST Council meet: Rates on 29 items slashed to zero per cent, return filing process to be made simpler
Finance Minister Arun Jaitley said the next meeting of the Council may consider bringing items like crude oil, natural gas, petrol, diesel, ATF and real estate within the GST purview.
The Goods and Services Tax Council also rationalised the rates of 49 other items, according to Uttarakhand Finance Minister Prakash Pant.
In addition, the Council is likely to make changes in the Goods and Services Tax Law to facilitate the release of locked input tax credit in tourism and hotel industry.
The new GST regime realised the vision of a unified market in a federal system that guided the nationalist bourgeoisie in joining Mahatma Gandhi's struggle to liberate India.
The all-powerful GST Council has approved mandatory compliance of e-way bill for intra-state movement of goods from June 1, 2018, sources said.
New GST rates: From condensed milk to restaurant bills, here is a list of essential items which will get cheaper from today
A number of goods including daily-use products like toiletries and furniture will become cheaper with the revised GST rates for over 200 items coming into effect on Wednesday.
The GST Council, headed by the finance minister, in its last meeting at Guwahati on November 10 had decided to cut rates on around 200 items.
Rahul Gandhi claimed victory and said the Congress will abolish the multi-slab system introduced by the BJP and simplify it to just 18 percent tax after coming to power in 2019.
Goa Congress chief Shantaram Naik alleged that Prime Minister Narendra Modi, Union Finance Minister Arun Jaitley, Revenue Secretary Hasmukh Adhia were responsible for the loss.
Congress general secretary in-charge of Gujarat said that the GST Council yesterday decided to cut the tax rates due to the pressure mounted by Gandhi
Now, businesses will have to file simplified Initial GSTR-3B returns till March. Also, kept in abeyance is monthly matching of sales and purchase invoice till March 2018.
Benchmarks Sensex and Nifty overcame a spell of fag-end volatility to close with moderate gains today as investor sentiment got a lift.
As many as 178 items of daily use were shifted from the top tax bracket of 28 per cent to 18 per cent, while a uniform 5 per cent tax was prescribed for all restaurants, both AC and non-AC.