GST Council recommends reduced tax rates

  • GST Council recommends reduced tax rates
19-01-2018 | Pratidin Bureau. |

The Goods and Services (GST) Council on Thursday has reduced the tax rate on 29 goods and 53 categories of services by bringing them in lower category. The Council also recommended issuance of certain clarifications on issues relating to the GST rates and taxability of certain goods and services. The new rates will be effective from 25th of this month.

The major recommendations of the Council on Thursday included, exempting supply of services by way of providing information under RTI Act, 2005 from GST. It has recommended exempting legal services provided to Government, Local Authority, Governmental Authority and Government Entity.

The GST rate on tailoring service has been reduced from 18 to 5 percent and tax on entry services to theme parks, water parks, joy rides, merry-go-rounds, go-carting and ballet from 28 percent to 18. The GST rate on transportation of petroleum crude and petroleum products including ATF has been cut down from 18 percent to 5 percent without input tax credit and 12 percent with it. The GST rate on Common Effluent Treatment Plant services of treatment of effluents from 18 percent to 12 percent.

Meanwhile, addressing media after the council meeting in New Delhi yesterday, Finance Minister Arun Jaitley said, the Fitment Committee has recommended to the GST Council about this which were considered. Jaitley said, it was also discussed to simplify the return filing process by merging all three types of GST returns into a single return. He said, Nandan Nilekani gave a detailed presentation on simplification of return filing process.

Tags : GST GST Council tax rate

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