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| GST Fortnightly News Bulletin, Volume I, Issue II (July 24-August 7) |
The Goods and Services Tax (GST) Council in its 20th meeting on Saturday decided to cut the tax rate for job work for the entire value chain of textiles sector to 5 per cent along with reduction in rate for tractor parts to 18 per cent from 28 per cent. Also, the Council gave in-principle approval to the e-way bill rules, which envisage a technology-driven tracking of movement of goods worth more than Rs 50,000 and for sale beyond 10 km in distance. The e-way bill rules are likely to come into force from October1. |
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| Author : BSA Taxation Team |
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| Date : August 8, 2017 |
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| GST Weekly Bulletin, Volume II, Issue XXVII |
| Government issued circular 2/2017 to provide clarification regarding issues related to furnishing of Bond/ Letter of Undertaking for Exports–Reg. Govt allows stickers with revised rates alongside printed MRP till 30 Sept. |
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| Author : BSA Taxation Team |
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| Date : July 10, 2017 |
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| GST Weekly Bulletin, Volume II, Issue XXVI |
On Saturday, as Indian market got its first taste of the Goods and Services Tax (GST), traders expressed hope for the road ahead, but also expressed some doubts on how to implement the new system. |
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| Author : BSA Taxation Team |
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| Date : July 3, 2017 |
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| GST Weekly Bulletin, Volume II, Issue XXV |
Finance ministry on has issued as many as 8 notifications. The main take away from these notifications is that certain sections from CGST &IGST Act are applicable from June 22. 2017, the provisions that are to be implemented mainly pertain to registration, job work and other basic aspects. |
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| Author : BSA Taxation Team |
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| Date : June 26, 2017 |
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| GST Weekly Bulletin, Volume II, Issue XXIV |
The under-prepared banks get additional time as the GST Council has granted a two month breather to companies for filing tax returns. The government has relaxed timetable and exempted companies from penalties and late fees for filing returns till September. |
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| Author : BSA Taxation Team |
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| Date : June 19, 2017 |
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