GST Council Meeting Goods Service Tax: Important decisions were taken at the 28th meeting of the GST Council under the chairmanship of Union Finance Minister Piyush Goyal. According to CNBC TV18 sources, the decision to keep sanitary napkins out of GST has been taken. Prior to this, the agreement has been agreed to simplify GST return rules for the traders. Now the GST return form will be of just 1 page.
GST Council Meeting Goods Service Tax-
At the same time, 3 times a month has also got rid of the returns of returns. Those who have turnover of up to Rs 5 crore will have to pay quarterly returns.
#GSTCouncilMeet | The GST Council paves the way for simpler returns. Sanitary napkins will be exempted from GST. Rate rationalisation of three dozen items expected. @Rituparna_Nt brings in more details@askGST_GoI @GST_Council #GST @PiyushGoyal @PiyushGoyalOffc @msisodia pic.twitter.com/LzwgX0jarm
— ET NOW (@ETNOWlive) July 21, 2018
According to the sources, considering the reduction in the GST rate of about 30 items related to everyday use. These included accessories like sanitary napkins, lithium ion batteries, battery cars, water coolers and ice creams.
There was expected to cut rates of about 40 items related to handloom and cottage industries. Statues of goddesses made of marble stones can also be affordable. GST can be reduced from 18% to 12% on decorative items. Cleaning can be done with job work and about 45 services.
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