Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
February 24, Saturday 2018 3:14 PM       

       HEADLINES: Two including army man dies as tipper rams on to two bikes                                              There’s no discrepancy in postponing Madhu’s post-mortem: K K Shylaja                                              Forest officials helped in lynching Madhu: Madhu’s family                                              Madhu’s post-mortem begins under heavy protection                                              Govt fails, violence against minorities increased: National Commission for Minorities                                              PNB fraud: Govt moves NCLT to attach properties of Nirav Modi, Choksi                                              Modi to launch Amma Two-wheeler Scheme in Chennai                                              PNB fraud case: ‘Very tough to clear dues or pay salaries’, Choksi writes to employees                                              Burqa-clad women playing board game at Mecca's mosque spark controversy                                              Canada flew celebrity chef to India at taxpayer expense for Trudeau                                              Indian women eye a rare double series win against SA                                              ISL: Chennaiyin to take on resurgent Blasters in crucial tie                                              Strandja Boxing Tournament: Mary Kom advances to semis                                              Kaumudi Facebook
       BUSINESS Next Article: SpiceJet adds Dibrugarh to its network  
       GST rates reduced on household items, deadline for filing GSTR 1 extended to Oct 10
 
         Posted on :00:21:21 Sep 10, 2017
   
A A
       Last edited on:00:21:21 Sep 10, 2017
         Tags: GST rates reduced on household items, deadlin
 

HYDERABAD: In a major relief to the common man as promised, Finance Minister Arun Jaitley on Saturday announced that the Goods and Service Tax Council (GST) reduced tax levied on several household items.

The GST council also extended the deadline for filing GSTR 1 for July to October 10.

The Finance Minister Jaitley also announced there would be no change in tax for small cars, 13-seater vehicles and hybrid cars.

"There will be no additional burden on small car buyers," Jaitley said after the 21st meeting of the GST Council here.

While the total tax in midsize cars will increase from 43% to 45% and large cars will be raised to 48% from 43%.

On SUVs, total tax would now be 50% instead of 43%.

The GST council also reduced taxes on dried tamarind, dhoop agarbatti, raincoats, custard powder, rubber bands. Apart from this, tax on idly and dosa batter is also reduced.

Khadi fabric sold only through KVIC stores will be tax-exempted, said the finance minister.

The Council also amended the framework for branded packaged food products.

The finance minister said that the overall GST collection has been robust so far with more than 70% of the having filed their return.

"Figure of approx Rs. 95,000 cr (tax collection) for July. Some spill over of VAT collection of June paid in July will also be added. We reviewed the functioning of GST Network which on 2 or 3 occasions got overloaded. These are transient challenges and has been rectified," Jaitley said.

The GST council has also decided to form an inter-ministerial committee to continuously interact with GST Network to ensure smooth transformation.

The Center on September 4 extended the deadline for filing GSTR 1 for July to September 10 after the GST portal stopped working.

Deadlines for filing GSTR 2 and GSTR 3 were also subsequently extended to September 25 and September 30, respectively.

A A
       BUSINESS
Next Article: SpiceJet adds Dibrugarh to its network
 
 
BUSINESS HEADLINES
RBI introduces Ombudsman Scheme for NBFCs  
Nest to offer 30 pct discount to Airbnb 'Superhosts'  
Sensex surges 200 pts, Nifty above 10,400-level  
Centre to crackdown on erring auditors  
Revised India-Kenya Double Taxation Avoidance Agreement notified  
Sensex slips 144 points ahead of F&O expiry  
EPFO cuts interest rate to 8.55 pct for 2017-18  
Aviva India launches digital platform to nurture child's inherent talent  
Milkbasket to hire 2,000 employees  
AI launches non-stop New Delhi-Amritsar-Birmingham flight  
Lakme Fashion Week, WeWork kickstart fashion Incubation program  
Finway Capital empowers borrowers with easy access to funds  
Rajesh Kakkar is offshore director of ONGC  
Glitches in GSTN remain cause of concern  
Post bank scams, Sensex tanks 462.10pts  
'Maharashtra has great business potential'  
Sensex drops 195 pts, Nifty below 10,400  
Reliance to invest 60,000 cr in Maharashtra  
Retailers accused of levying GST over MRP  
Citizens urge reduction of GST on sanitary napkins  
India, Iran sign double taxation pact  
Refer to these fintech startups for range of medical loans  
SBI launches Global NRI Center to enhance customer experience  
Nifty drops 93 points, ends below 10,500  
Will ask visually challenged to examine new notes: HC  
 
Do you think police had role in Madhu's death?
yes
 
no
 
no opinion
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy