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DILIP BATHIJA

New Rates of GST

GST Council has in its meeting held on 6th Oct,2017,reduced the rates of GST on 27 items.From which date these rates are applicable? Can someone throw light on it ? more  

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Rajkumar Mehra
Can't say but khakra is sasta from the moment it was announced more  
Prabhakar Pandit
When budget notifications are issued the Day budget is presented and come into effect immediately, why changes in GST are not made effective by issuing notifications as soon as press note is issued. more  
Shyamsundar Joshi
Official notification to the effect is yet to come may publish once it is done in leading daily newspapers !! need to watch it daily for the same !! more  
Rakesh Pandita
The facility of availing composition under the increased threshold shall be available to both migrated and new taxpayers up to 31.03.2018. Service providers whose aggregate turnover is less than 20 lacs (Rs. 10 lacs in special category states except J & K), shall be exempted from obtaining registration even if they are making inter-State taxable supplies of services. Persons having Annual aggregate turnover up to Rs. 1.5 crores. shall be required to file quarterly returns and pay taxes only on a quarterly basis, starting from the October-December, 2017. The reverse charge mechanism under section 9(4) of the CGST Act, 2017 and section 5(4) of the IGST Act, 2017 shall be suspended till 31.03.2018. Specific reverse charge u/s 9(3) shall continue. Taxpayers having annual aggregate turnover up to Rs. 1.5 crores shall not be required to pay GST at the time of receipt of advances on account of supply of goods. The GST on such supplies shall be payable only when the supply of goods is made. The services provided by a GTA to an unregistered person shall be exempted from GST. Registration and operationalization of TDS/TCS provisions shall be postponed till 31.03.2018. The e-way bill system shall be introduced w.e.f.01.01.2018 and shall be rolled out nationwide with effect from 01.04.2018. The last date for filing the return in FORM GSTR-4 & FORM GSTR-6 for the months of July, August and September, 2017 shall be extended to 15.11.2017. more  
MOHIT PANDE
The rates would be applicable from the date mentioned in the Notification to be published in Gazzete of India. more  
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