- GST Council decided to implement the indirect tax regime from July 1.
- GST Council approved the anti-profiteering rule for
- E-waybill under GST would be deferred. Till such a time, an alternative e-way bill would be introduced to allow continuance of the current system.
- GST Council also decided to give relaxation to the assessee for submission of returns for the month of July & August 2017. Tax will be payable on simplified return basis & detailed return will be required to be filed subsequently.
- For hotels with tariff between Rs 5,000 and Rs 7,500, a reduced GST rate of 18 per cent will apply. The restaurants at these hotels would also be taxed at 18 per cent.
- State-run lotteries are going to be taxed under the GST regime at 12 per cent, while state-authorised private lotteries would fall in the 18 per cent tax slab.
- Only 3 products – ice cream, paan masala and tobacco – have been added in the negative list of the Composition scheme.
- New registrations under GST would begin from June 25.
- The GST Council will meet again on June 30 to take stock and decide before the implementation of GST