Relief for exporters - NO IGST to be paid on imports by EoUs, EPCG & AA holders; Domestic supplies to be treated as deemed exports u/s 147; PSUs allowed import of gold without IGST; GST reduced to 5% on bunker fuel for both coastal & foreign going vessels

GST Council extends RCM provisions to sale of seized or used vehicles by govts or govt agencies + services provided by Overseeing Committee Members to RBI

GST Council exempts salami, development charge or premium paid on long-term leasing service provided by Govt agencies + annuity paid by NHAI to concessionaires

GST rates reduced for job work services relating to clay bricks, printing, food products, imitation jewellery, dog & cat food, offshore works contract beyond 12 nautical miles, transport of natural gas by pipeline, leased vehicles to be taxed at 65% and many more

GST rates rationalised for items of mass consumption such as sewing thread, plastic waste, poster colour, food packed in unit container for distribution to poor, real zari, biomass briquettes and many more

GST Council makes it NIL rate for Duty Credit scrips + Import of rigs for oil & gas exploration + import of medicines for free supplies by WHO, Red Cross & others + import of gifts upto CIF value of Rs 5000 by post or air

GST Council exempts from tax GST services provided to unregistered person + e-Way Bill to come into force on Jan 1, 2018 and then April 1, 2018 on All India basis + Last date for GSTR-4 & GSTR-6 extended to Nov 15, 2017

FM clarifies quarterly return-filing system to come into force from October 1 and thus return to be filed only after 3 months and even taxes to be paid only on quarterly basis but return for September to be filed as per existing provisions

GST - Council decides to reduce tax rate from 12% to 5% on govt contracts involving more of labour

Govt introduces Sovereign Gold Bond Scheme - Series III from Oct 9 to Dec 27, 2017

GST rates reduced on items like khakra, unbranded namkeen, dried mango, unbranded Ayurvedic medicines, rubber & paper waste, man-made yarn, stones other than marble & granite, diesel parts, pumps parts, e-waste plus services like jobwork in imitation jewellery, painting & others

GST Council decides to defer e-Way Bill (partly), TDS & TCS provisions to April 1, 2018

Council decides to grant relief to leasing of vehicles sector

Relief for exporters - GST Council decides to allow refund for July from Oct 10 and for August from Oct 18 through cheques + approves e-wallet account facility for each exporter to get refund in advance

GST Council decides to develop Concept Paper for Fitment Committee for future guidelines

Council decides to allow merchant exporters to export at GST rate of 0.1%

GST Council decides to suspend RCM under Sec 9(4) of CGST Act till March 3, 2018

GST Council decides to allow quarterly return to taxpayers upto Rs 1.5 Crore turnover + Composition Scheme Limit hiked to Rs one crore + Ministerial Panel to be set up to decide on ITC & inter-state facility under Composition Scheme

TOP NEWS

GST Council recommends mega relief for exporters and small businesses

GST

Decisions taken by the GST Council in the 22 nd meeting held on 6 th October 2017

CHANGES IN GST RATES FOR GOODS AND IGST RATES ON IMPORTS OF GOODS

Relief Package for Exporters – Recommendations of the 22 nd GST Council Meeting