GST council meet decision as on 18th June 2017 on Goods

GST rate on goods

 

10GST council meet decision as on 18th June 2017 on Goods

The extract of GST council meet as on 18th June, 2017 is given below:

RECOMMENDATIONS REGARDING THE COMPOSITION LEVY AND GST RATE ON CERTAIN GOODS [As per discussions in the 17 th GST Council Meeting held on 18 th June, 2017]

I. The Turnover Limit for the Composition Levy:

1. The GST Council, in its meeting held on 11th June, 2017, had recommended increase in the turnover limit for Composition Levy for CGST and SGST purposes from Rs.50 lakh to Rs.75 lakh for all eligible registered persons. However, no clear view was taken as to whether or not this increased turnover limit will apply in case of Special Category States.

 

2. In its meeting held on 18th June, 2017, the GST Council has recommended that the turnover limit for Composition Levy for CGST and SGST purposes shall be Rs.50 lakh in respect of the following Special Category States namely:

1. Arunachal Pradesh,

2. Assam,

3. Manipur,

4. Meghalaya,

5. Mizoram,

6. Nagaland,

7. Sikkim,

8. Tripura, and

9. Himachal Pradesh.

 

3. The Council has also recommended that in case of Uttarakhand, the turnover limit for Composition Levy for CGST and SGST purposes will be Rs.75 lakh.

 

4. For the State of Jammu & Kashmir the turnover limit for the Composition levy will be decided in due course.

II. Manufacturers of goods who will not be eligible for Composition Levy: The GST Council has also recommended that manufacturers of the following goods shall not be eligible for the Composition Levy: S. No. Classification (Tariff item / Chapter) Description 1 2105 00 00 Ice cream and other edible ice, whether or not containing cocoa. 2 2106 90 20 Pan masala 3 24 Tobacco and manufactured tobacco substitutes III. GST RATE ON CERTAIN GOODS:

1. The GST Council also recommended that the GST rate on dried singhada and makhana will be 5%.

 

 

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Narayan Singh: Currently i am doing Palstic chair trading please share with me new gst rate for my business

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