Recommendations made during the 28thmeeting of the GST Council held in New Delhi on 21st 2018

Goods and Services Tax – GST – Dated:- 21-7-2018 – Recommendations made during the 28th meeting of the GST Council held in New Delhi on 21st 2018 Amendments to the CGST Act, 2017, IGST Act, 2017, UTGST Act 2017, and GST (Compensation to States) Act, 2017 The GST Council in its 28thmeeting held here today has recommended certain amendments in the CGST Act, IGST Act, UTGST Act and the GST (Compensation to States) Act. 2. The major recommendations are as detailed below: Upper limit of turnover for opting for composition scheme to be raised from ₹ 1 crore to ₹ 1.5 crore. Present limit of turnover can now be raised on the recommendations of the Council. Composition dealers to be allowed to supply services (other than r

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registration is required for only those e-commerce operators who are required to collect tax at source. Registration to remain temporarily suspended while cancellation of registration is under process, so that the taxpayer is relieved of continued compliance under the law. The following transactions to be treated as no supply (no tax payable) under Schedule III: Supply of goods from a place in the non-taxable territory to another place in the non-taxable territory without such goods enteringinto India; Supply of warehoused goods to any person before clearance for home consumption; and Supply of goods in case of high sea sales. Scope of input tax credit is being widened, and it would now be made available in respect of the following: Most o

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to pay interest is being done away with. Registered persons may issue consolidated credit/debit notes in respect of multiple invoices issued in a Financial Year. Amount of pre-deposit payable for filing of appeal before the Appellate Authority and the Appellate Tribunal to be capped at ₹ 25 Crores and ₹ 50 Crores, respectively. Commissioner to be empowered to extend the time limit for return of inputs and capital sent on job work, upto a period of one year and two years, respectively. Supply of services to qualify as exports, even if payment is received in Indian Rupees, where permitted by the RBI. Place of supply in case of job work of any treatment or process done on goods temporarily imported into India and then exported wit

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