Explorer

22nd GST council meet: Limit for turnover in compensation scheme raised from Rs 75 lakh to Rs 1 crore, says FM Jaitley

GST on unbranded ayurvedic medicines to reduced from 12% to 5%: FM Arun Jaitley

New Delhi: The Finance Minister Arun Jaitley spoke after the 22nd GST council meeting on Friday. Here are important things Arun Jaitley said after the GST council meet:
  • GST on unbranded ayurvedic medicines to reduced from 12% to 5%: FM Arun Jaitley
  • Members wanted to revisit tax structure of restaurants with more than Rs 1 Cr turnover, will be reviewed: Finance Minister
  • Man made yarn was taxed 18%, it has been put in 12% slab, will have effect on textiles: FM Jaitley
  • Traders to pay 1%, manufacturers 2% & restaurants 5% under composition scheme: FM Jaitley
  • 90% of the assesses who have turnover less than Rs 1.5 Cr turnover to file quarterly returns: Finance Minister Arun Jaitley
  • Refund cheques for July exports, will be processed by 10 Oct & refund cheques for Aug exports, will be processed by 18 Oct: FM
  • Pattern of collection (of GST) is not clear after two months because it was a period of transition: FM Jaitley
  • E-wallet for each exporter to be made & notional amount as advance refund will be given; will be initiated on 1 April 2018: FM Jaitley
  • There has been blockage in credit of exporters which affects their cash liquidity: FM Jaitley
  • The limit for turnover in compensation scheme raised from Rs.75 lakh to Rs. 1 crore: FM Arun Jaitley
Meanwhile, Vice President M Venkaiah Naidu on Friday said the political debate on GST should carry on and the government of the day would examine the positive and critical points in the discussions and take "corrective measures". Consultations on the economy and the Goods and Services Tax regime were good for democracy, Naidu said while addressing the International Conference on Technological Advancements in Railway and Metro Projects. (With inputs from agencies)
View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headline

Kejriwal To Stay Delhi CM From Jail As High Court Finds 'No Legal Bar,' Ball In LG's Court Now
Kejriwal To Stay Delhi CM From Jail As High Court Finds 'No Legal Bar,' Ball In LG's Court Now
PM Modi Calls Congress A 'Bully' After Lawyers Write To CJI. Here's What He Said
PM Modi Calls Congress A 'Bully' After Lawyers Write To CJI. Here's What He Said
Roof Collapses During Renovation Work At Chennai Bar, 3 Dead
Roof Collapses During Renovation Work At Chennai Bar, 3 Dead
Arvind Kejriwal To Stay In ED Custody For 3 More Days — A Timeline Of Delhi CM's Battle In Courts
Arvind Kejriwal To Stay In ED Custody For 3 More Days — A Timeline Of Delhi CM's Battle In Courts
Advertisement
for smartphones
and tablets

Videos

Elvish Yadav's reaction on Munawar Faruqui's arrest, Watch Video | HOT NewsNawazuddin Siddiqui And Aliya Fixes Relationship Disbalance For Kids Upbringing | Khabar Filmy HaiRamayana: Sakshi Tanwar dismisses speculations of being a part of the movie, Watch videoWill there be a date clash between Bigg Boss 18 and Lock Up Season 2? | HOT News

Photogallery

Embed widget