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GST Related Latest News 7th Oct 2017 -GST New Rates-New Skim-New Notification-New Announcement

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Here is Information about GST Related Latest News 7th Oct 2017,New slab,New Notification,New Announcement and all Information.

GST Related Latest News 7th Oct 2017 -New slab-New Notification-New Announcement



The GST council today announced major cuts in taxes of various items and announced various measures to support exporters and small businesses, three months after the new taxation system was launched. 

Finance Minister Arun Jaitley addressed a press conference on GST relief measures. The council had day-long discussions on various  aspects of the GST implementation. The focus being, relief for small, medium traders and exporters. Many states have backed demands to relax rules that require businesses to file three returns every month. 

GST New Rates 

No.
Name of Item
GST Old Rates
GST  New Rates
1
Mango sliced dried
12%
5%
2
Khakra and plain chapati
12%
5%
3
Food preparations put up in unit containers and intended for free distribution to economically weaker sections of the society under a programme duly approved by the Central Government or any State Government, subject to specified conditions
18%
5%
4
Namkeens other than those put up in unit container and,
-bearing a registered brand name; or
-bearing a brand name on which an actionable claim or enforceable right in a court of law is available [other than those where any actionable claim or enforceable right in respect of such brand name has been foregone voluntarily
12%
5%
5
Imposing GST only on the net quantity of superior kerosene oil [SKO] retained for the manufacture of Linear Alkyl Benzene [LAB]
18%
18% (Clarification to be issued)
6
Ayurvedic, Unani, Siddha, Homeopathy medicines, other than those bearing a brand name
12%
5%
7
Poster Colour
28%
18%
8
Modelling paste for children amusement
28%
18%
9
Plastic waste, parings or scrap
18%
5%
10
Rubber  waste, parings or scrap
18%
5%
11
Hard Rubber waste or scrap
12%
5%
12
Paper waste or scrap
12%
5%
13
Duty credit scrips
5%
Nil
14
Sewing thread of manmade filaments, whether or not put up for retail sale
18%
12%
15
All synthetic filament yarn, such as nylon, polyester, acrylic, etc.
18%
12%
16
All artificial filament yarn, such as viscose rayon, Cuprammonium,
18%
12%
17
Sewing thread of manmade staple fibres
18%
12%
18
Yarn of manmade staple fibres
18%
12%
19
Real Zari
12%
5%
20
All goods falling under heading 6802 [other than those of marble and granite or those which attract 12 percent GST]
28%
18%
21
Cullet or other waste or scrap of Glass
18%
5%
22
Fittings for loose-leaf binders or files, letter clips, letter corners, paper clips, indexing tags and similar office articles, of base metal; staples in strips (for example, for offices, upholstery, packaging), of base metal
28%
18%
23
Plain Shaft Bearing 8483
28%
18%
24
Parts suitable for use solely or principally with fixed Speed Diesel Engines of power not exceeding 15HP
28%
18%
25
Parts suitable for use solely or principally with power driven pumps primarily designed for handling water, namely, centrifugal pumps (horizontal and vertical), deep tube-well turbine pumps, submersible pumps, axial flow and mixed flow vertical pumps
28%
18%
26
E-Waste
28/18 %
5%
27
Biomass briquettes
18 %
5%

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1 comment:

  1. GST means Goods and Services Tax. So it’s a tax applied on both physical products (cars, TV, bread, clothes etc) and on services (Mobile network, banking, air travel, movies etc) GST is set to become one of the biggest economic improvement that our country is going to witness.GST is a transparent tax and also reduce number of indirect taxes. With GST implemented a business building can show the tax applied in the sales invoice.

    Regards,
    https://123gst.com/

    ReplyDelete

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