Daily Archives: June 18, 2017

17 th GST Council Meeting Decisions on 18.06.2017 – Composition Levy and GST Rate on Certian Goods

By | June 18, 2017

RECOMMENDATIONS REGARDING THE COMPOSITION LEVY AND GST RATE ON CERTAIN GOODS [As per discussions in the 17 th GST Council Meeting held on 18 th June, 2017] I. The Turnover Limit for the Composition Levy: 1. The GST Council, in its meeting held on 11th June, 2017, had recommended increase in the turnover limit for… Read More »

GST Return filing for July & Aug 2017 relaxed by Govt 18.06.2017

By | June 18, 2017

Relaxation in return filing procedure for first two months of GST implementation   With the objective of ensuring smooth rollout of GST and taking into account the concerns expressed by the trade and industry regarding filing of the returns in GST regime, it has been decided that, for the first two months of GST implementation,… Read More »

Analysis of IGST Act 2017

By | June 18, 2017

IGST Act 2017 Integrated Goods and Services Tax Act 1. The introduction of Goods and Services Tax (GST) is a significant reform in the field of indirect taxes in our country. Multiple taxes levied and collected by the Centre and the States will be replaced by one tax called the Goods and Services Tax (GST).… Read More »

Category: GST

GST Council Meeting Dates and Updates

By | June 18, 2017

GST Council Meeting Dates and Updates GST Council Meeting Dates Key Decisions Press Conference GST Council – 1st Meeting 22nd September to 23 September -GST Exemption Threshold -Compensation Norms of states – Dual Control  & Assessment of Assessees Click for GST Press Conference after meeting GST Council – 2nd Meeting 30th September 2016 To approve GST Draft Rules… Read More »

Section 206C(1D) of Income tax Act

By | June 18, 2017

Section 206C(1D) of Income tax Act Section 206C(1D) of Income tax Act Omitted / Deleted  by the Finance Act, 2017, w.e.f. 1-4-2017. Prior to its omission, sub-section (1D), as amended by the Finance Act, 2012, w.e.f. 1-7-2012, Finance Act, 2013, w.e.f. 1-6-2013 and Finance Act, 2016, w.e.f. 1-6-2016, read as under : “(1D) Every person, being… Read More »