GST Council of India on Thursday, 3rd November 2016 decided the Four-tier GST tax structure of 5%, 12%, 18% and 28%, with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess.
The lowest rate of 5% would be for common use items.
Two standard rates of 12% and 18% under the Goods and Services Tax (GST) regime expected to be rolled out from April 1, 2017.
And, highest tax slab will be applicable to items which are currently taxed at 30-31% (excise duty plus VAT).
Extension of due date to 25th October, 2018 for furnishing return in the FORM GSTR-3B for the month of September, 2018
Posted On: 21 OCT 2018 3:54PM by PIB Delhi It has been brought to notice that there have been apprehensions by trade and industry relating to the last date for availment of ITC for the Read more…