GST council

GST council News

Relief for home buyers as GST Council announces rate cut for real estate

The Goods and Services Tax (GST) Council Sunday lowered the tax rate for under-construction housing to five per cent (without input tax credit) from the present effective rate of 12 per cent (after one-third abatement of land).

On GST Council table: Tax relief for real estate, duty relaxation for exporters

The proposal was discussed in 26th GST Council meeting in March last year and since many technical, legal and administrative issues were identified, its implementation was put on hold.

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GST Council meeting: Here are all the changes announced today

The Council also allowed Kerala to levy a 1 per cent disaster cess on intra-state sale of goods and services for a period of up to two years to mobilise revenues to meet the cost of rehabilitating parts of states that were ravaged by floods last year.

Movie tickets, TVs to be cheaper as govt cuts GST rates on several items

Among the items that have been brought down from the 28 per cent slab to 18 per cent include monitors and television screens, retreading tyres, power banks of Lithium batteries and sports-related items.

GST Council clears 20 per cent cashback on digital payments, with Rs 100 cap

Revenue shortfall concerns and issues being faced by micro, small and medium enterprises (MSMEs) dominated the 29th meeting of the GST Council. The Council approved a six-member ministerial panel, headed by Minister of State for Finance Shiv Pratap Shukla, to look into the issues of MSMEs.

GST rate cut, return simplification to increase revenue, compliance: CII

The council on Saturday cut rates on 88 items, including ethanol, carpets, fridge, washing machine, paints and varnishes and also allowed input tax credit for textile sector.

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Council to discuss bringing natural gas in GST in next meeting

The inclusion of natural gas within the GST purview on an experimental basis would be put before the GST Council in its forthcoming GST Council meeting, a PHD Chamber statement quoted Rastogi as saying.

GST council approves simplified tax return filing system

GST council meeting: The Council had discussed a proposal wherein a 2 per cent concession, subject to a ceiling of Rs 100 per transaction, may be offered to consumers in B2C transactions if they pay through cheque or digital mode to incentivise digital payments.

GST council meet on March 1: GSTR simplification, invoice matching likely to be in focus

With GSTR-2 & -3 suspension deadline closing, Council aims to bring one form.

Lok Sabha passes bill for GST cess hike on luxury cars to 25%

As the opposition forced four adjournments during the day, Parliamentary Affairs Minister Anant Kumar sought to wriggle out of the situation by asserting that Hegde's remarks were being distorted.

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