Explorer

Rates of 19 services revised by GST council, relief for textiles

The job work rate in the textile sector has also been reduced from 18% to 5%. The council has reduced the rate for agriculture services linked to post-harvest and storage from 18% to 12%.

New Delhi: The rates of 19 services have been revised by the GST Council on Saturday at its 20th meeting in the capital. The job work rate in the textile sector has also been reduced from 18% to 5%. Finance Minister Arun Jaitley appealed that the businesses should pass on the benefit of the tax reform measure. The GST Council also lowered the rate on some tractor parts to 18% from 28%. The council is also likely to examine whether contracts linked to irrigation can be brought down to 5%. Moreover, an e-way bill to ensure seamless movement of goods was also approved in the meeting. As per the rules, all goods worth over Rs 50,000 must be pre-registered before they are moved for beyond 10 km though it will not be applicable for exempted goods. The unified e-way rules are likely to be in place by October 1. Jaitley said that the council decided to implement e-way bill across the country. There will be no check posts and the entire process will be technology driven. While adding more he informed that new registrations under GST have gone up to 15.67 lakh and 71 lakh state and central taxpayers have migrated to the new system. He also informed that the council might launch a campaign on the anti-profiteering issue in order to inform the consumer about the impact of GST. Meanwhile, in a bid to bring relief to the farming sector, the council has reduced the rate for agriculture services linked to post-harvest and storage from 18% to 12%. Furthermore, Planetarium has been reduced to 18% than the 28% previously, printing books and newspaper will now attract 5% if they use their own paper but it will be 12% with input tax credit if the paper is supplied by the printer outside, the rate for cab-renting services will be 12% if there is no input tax credit. Jaitley also announced in the meeting that the Fifa Youth World Cup, which is being held in India, has been exempted from GST. Jaitley also announced in the meeting that the Fifa Youth World Cup, which is being held in India, has been exempted from GST.
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

I.N.D.I.A Bloc In Bihar: Here's How Congress, RJD Have Decided To Share Seats After JD-U's Exit
I.N.D.I.A Bloc In Bihar: Here's How Congress, RJD Have Decided To Share Seats After JD-U's Exit
'BJP Should Pay Rs 4,600 Crore': Congress Slams Income Tax Dept, ECI After Getting Rs 1,700-Crore Notice
'BJP Should Pay Rs 4,600 Crore': Congress Slams Income Tax Dept, ECI After Getting Rs 1,700-Crore Notice
Another Blow To Congress As I-T Dept Serves Rs 1,700-Crore Notice Ahead Of Lok Sabha Elections: Report
Another Blow To Congress As I-T Dept Serves Rs 1,700-Crore Notice Ahead Of Lok Sabha Elections
Sunita Kejriwal Launches WhatsApp Campaign To Drum Up Support For Jailed Delhi CM
Sunita Kejriwal Launches WhatsApp Campaign To Drum Up Support For Jailed Delhi CM
Advertisement
for smartphones
and tablets

Videos

Bihar Seat Sharing: RJD to contest the upcoming polls on 26 seats-Sources | Elections 2024 |ABP NewsABP Shikhar Sammelan 2024: Anurag Thakur takes a jibe at Arvind Kejriwal's arrest | ABP NewsArvind Kejriwal Arrest: Sunita Kejriwal Launches WhatsApp Campaign To Drum Up Support For Jailed Delhi CMABP SHIKHAR SAMMELAN 2024: Here's What Defence Minister Reveals About His Further Political Plans

Photogallery

Embed widget