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22 GST council meeting.....

RAJA P M ("Do the Right Thing...!!!") (127962 Points)

06 October 2017

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TO GST COUNCIL...

THANKS A LOT TO GST COUNCIL

BY

SMALL TAX PAYERS....

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4 Replies

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 06 October 2017

Agreed to you.

A great relief to small taxpayers......

1 Like

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g mahesh Mundra (Business and tax consultant) (3293 Points)
Replied 06 October 2017

me also now only government taking some good steps for small business traders

RAJA P M ("Do the Right Thing...!!!") (127962 Points)
Replied 06 October 2017

Highlights of the meeting....

* GST rate on 27 items reduced.

* GST on unbranded Ayurvedic medicines has been reduced from 12% to 5%.

* Tax rate for man-made yarn has been reduced to 12% from 18%. The decision will have an effect on textiles.

* The council will try to implement the e-way bill by April 1, 2018.

* Traders will pay 1%, manufacturers 2% and restaurants 5% under the composition scheme.

* Refund cheques for July exports will be processed by Oct 10 and refund cheques for August exports will be processed by Oct 18.

* Those who have up to Rs 1.5 crore turnover will file quarterly returns, not monthly returns.

* Compliance burden of medium and small taxpayers in GST being cut; eligibility of composition scheme raised to Rs 1 crore.

* E-wallet for each exporter to be made and notional amount as advance refund will be given. It will be initiated on 1 April 2018.

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RAJA P M ("Do the Right Thing...!!!") (127962 Points)
Replied 06 October 2017

GST is in line with our constant endeavour to ensure interests of our citizens are safeguarded & India’s economy grows.

BY.,
P M NARENDRA MODI...... 🙏🙏🙏🙏