خوش آمدید

Mr Jaitley said that bringing petrol and diesel and real estate under GST will be discussed at the next meeting. The GST Council decided to slash tax from 28 per cent to 18 per cent on buses to be used in public transport, which will exclusively run on bio-fuels. The GST Council clarified that services provided by senior doctors, consultants and technicians hired by the hospitals, whether employees or not, are healthcare services, which is exempt.Infosys co-founder Nandan Nilekani gave a presentation to the council on the model to simplify the retu-filing process.Bihar deputy chief minister Sushil Kumar Modi, GSTN chairman Ajay Bhusan Pandey and Mr Nilekani would formalise the structure.

The GST Council decided to reduce GST to 12 per cent in respect of mining or exploration services of petroleum crude and natural gas. The GST Council approved slashing tax from 18 per cent to five per cent on tamarind keel powder, mehendi paste in cones, LPG supplied for supply to household domestic consumers by private LPG distributors.New Delhi: The all-powerful GST Council on Thursday agreed to slash tax rates on around 29 goods and 54 categories of services, including diamonds and precious stones, 20-litre water bottles, secondhand vehicles, tailoring services, entry into theme parks, water parks and joyrides, sugar-boiled confectionery and vibhuti, among others. On services, the GST Council decided to reduce tax on tailoring services from 18 per cent to five per cent. The Centre expects Rs 1,100 crore annually loss from cut in GST rates announced on Thursday..The GST on velvet fabric will be cut from 12 per cent to five per cent. Union finance minister Arun Jaitley said the new process would be finalised at the council’s next meeting, which will be held before the Union Budget, after a written formulation is circulated to the states.The GST rate will be cut on transportation of petroleum crude and petroleum products (petrol, diesel and ATF) from 18 per cent to five per cent without input tax credit and 12 per cent with ITC.The GST on diamonds and precious stones will be reduced from three per cent to 0. With crude oil prices on a boil, there has been a demand to bring petrol and diesel under GST to cut taxes on them and give some relief to the general public. This scheme, also known as Udan (Ude Desh ka Aam Naagrik), seeks to connect unserved and under-served airports as well as make flying more affordable.With the govement facing criticism from trade and industry circles over the huge compliance burden put on them by GST, the GST Council veered around to the idea of making the GST retu filing process simpler by filing only one retu in a month, where only supply invoices will be adequate to deposit the tax.The new tax rates would be effective from January 25.

The registered entities will continue to file their retus in the GSTR-3B form till then. Subscription of online educational jouals/periodicals by educational institutions who provide a recognised degree will be exempt from GST. However, other supplies of food by a hospital to patients (not admitted) or their attendants or visitors is taxable. In good news for housing societies, the GST Council has decided to enhance the exemption limit of Rs 5,000 per month per member to Rs 7,500 in respect of services that are provided by resident welfare associations to their members against their individual contribution. Hospitals also provide healthcare services. The filing of GSTR 1, 2 and 3 will be discontinued in future under the new system.25 per cent. He said that the e-way bill will be one of the anti-tax evasion measures which will be implemented across country from February 1, and added that 15 states had agreed to also implement it for intra-state movement of goods from next month. Five per cent GST will be levied on small housekeeping service providers. The council approved a cut in the job work services rate for the manufacture of leather goods and footwear to five per cent. It accepted the proposal for GST on services by way of admission to theme parks, water parks, joyrides, merry-go-rounds, go-carting and ballet, from 28 per cent to 18 per cent. The entire amount charged by them from patients, including the retention money and fee/payments made to doctors and  others, is towards healthcare services provided by the hospitals to patients, and is exempt from GST.

There will be no GST on vibhuti and parts and accessories for manufacture of hearing aids.The GST Council decided to provide a three-year Wholesale Baby Fabric Factory GST exemption for viability gap funding under the regional air connectivity scheme. However, tax rates will be increased on cigarette filter rods from 12 per cent to 18 per cent. Food supplied to in-patients as advised by doctor/nutritionists is a part of the composite supply of healthcare and not separately taxable. It agreed to increase threshold limit for exemption from GST for all the theatrical performances like music, dance, drama, orchestra, folk or classical arts in any Indian language in theatre from Rs 250 to Rs 500 per person. The participating airlines are eligible for VGF subject to certain conditions.The finance minister said that under-reporting of revenue was a conce, especially among those registered under the compliance scheme. It decided to slash the GST rate from 18 per cent to 12 per cent on sugar-boiled confectionery, drinking water packed in 20-litre bottles, fertiliser grade phosphoric acid, bio-diesel, drip irrigation system, including laterals and sprinklers.