Business Standard

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.

Newspapers in English

Newspapers from India