Importantdevelopments since GST roll-out:
Midnight June30 and July 1: GST roll-out
July 17: Cess on cigarettes raised
Aug 5: Rate on job work in textiles cut to 5% from 18%. In-principle approval to the e-way Bill
Sept 6: Govt notifies standing committee on anti-profiteering
Sept 9: GSTN faced snag when filing for sale returns for July was on
Sept 9: Cess on mid-sized cars onwards raised. Rates on 30 items of mass consumption such as batter for idli cut
Sept 12: A panel constituted under Bihar deputy chief minister Sushil Modi to fix issues related to GSTN
Oct 7: Rates on 27 items of daily use including stationery item, man-made yarn, cut, implementation of e-way bill deferred till April one, 2018, TDS on ecommerce companies postponed, reverse charge mechanism put off, exporters woes on refunds addressed, eligibility of availing composition scheme raised to annual turnover of ~1 crore from ~75 lakh, allowed those with annual turnover of ~1.5 crore to file returns quarterly
Nov10: 28% peak tax rate pruned, 176 items moved to 18% and two to 12%. The rates on 13 items on other slabs also cut, GST on restaurants lowered to 5% without input tax credit, only restaurant in 5-star hotel to attract 18%, threshold to avail composition scheme raised, scheme liberalised
Nov29: Anti-profiteering authority set up. So far 70 complaints have been received by state screening committees
Dec 16: E-way bill on interstatement movement of goods advanced to February one, 2018, the same mechanism on intra-state movement deferred till June one, 2018.