The 17th Goods and Services Tax (GST) Council meeting was held on 18 June 2017. Key highlights of the said meeting are attached herewith in our Newsflash that can be downloaded from the above link.
The Key Highlights of the said meeting are:
- The GST Council has finalized and approved 4 set of Rules
- Relaxation in return filling procedure for the month July 2017 and August 2017
- No late filling fees or penalties for the said interim period
- Revised rate of GST as 18% for Hotels having per day room tariff between Rs. 2,500 and Rs. 7,500
- Specified the applicability of increased turnover limit for Composition Levy
- Deferred mandatory requirement of E-way Bill, till such time e-way bill system is developed and approved by GST Council
Also, in said newsflash we have covered the notifications issued by the Central Board of Excise and Custom (CBEC) on 19 June 2017.
The next meeting of the Council will be held on 30 June 2017 to launch GST by having a Special Midnight Session in Parliament.
We trust you will find the same useful.