GST

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The all-powerful GST Council comprising state finance ministers and headed by Union Finance Minister has pruned the highest 28 per cent slab by cutting tax rates on 191 goods over the last one year, including ACs, digital cameras, video recorders, dish-wa
Prior to the latest recommendations, internet based companies offering housekeeping salon and other such services needed to pay GST at 18% if their turnover was Rs 20 lakh or more in a year.
GST Council decided against paring rates on cement as it would have resulted in an annual revenue loss of around Rs 15000 crore over and above the potential loss of Rs 20000 crore from the more than 200 items on which rates have been reduced
About 20 lakh traders who have not filed returns on purchase and sales will be alerted through SMS to file before the last date, which Modi clarified would not be extended
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