Sabato, 21 Aprile, 2018

GST to rollout on July 1, two-slabs for lottery, hotel rooms

Parmenio Sano | 19 Giugno, 2017, 02:30

While addressing the media after attending the 17th meeting of the Goods and Services Tax (GST) Council Finance Minister Arun Jaitley said that there is no reason to defer the GST.

"The GST Council relaxes return filing timelines for July and August", said Mr. Jaitley. Companies will have to file sale invoice for August with the GST Network by September 20 instead of September 10 earlier.

It had last month fixed 43 per cent tax (28 per cent GST plus 15 per cent cess) on hybrid cars which the industry says was too high and the GST rate of 18% in telecom services also has been opposed by the telcos citing their poor financial positions.

The Council also chose to tax hotels costing above Rs 7,500 at 28 per cent from the earlier Rs 5,000. Hotels with tariffs between Rs 2,500 and Rs 7,500 will now attract a GST rate of 18%.

GST Council set tax rates on state-run lottery at 12% and government-authorised private lottery at 18%, PTI reported on Sunday.

An awareness campaign has also been launched to inform industry about the processes related to Goods and Services Tax (GST).


"IT preparedness discussed at length, 65.6 lakh have taken provisional registration", said Mr. Jaitley. The GST Council will meet again on 30th June on the eve of the launch.

Finance Minister Arun Jaitley said a strict GST filing timetable will apply from September.

"It was decided that there will be further deliberation which will continue on the e-way bill rules and after consultation, once consensus is reached and formulate one opinion, we will frame the rule", he said. Till then, an alternate rule authorising states to continue using existing systems for road permits shall be put in place. "They will have 30 days for GSTIN", Jaitley added. The GST Council on Sunday also decided on a two-slab structure for taxing lottery tickets. He stated that said the state now draws power to levy taxes from Section 5 of the Constitution of Jammu and Kashmir, as opposed to the Central Government. "All states will be through by the end of the coming week".

Assocham pitched its case by quoted the GSTN (GST Network) CEO, who has said that the network might not be fully operational by July 1, 2017.

With regard to states that have not yet passed the SGST Bills, Jaitley said: "Now, there are only 3 states left".

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