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GST will rollout from 30th June midnight, certain exemptions in transitional phase.

17th GST Council meeting concludes, affirms rollout of GST from midnight of June 30 & July 1 while approving 5 set of GST Rules out of 6 viz.

 Ant-profiteering, 

Advance Ruling, 

Appeal & Revision, 

Assessment and Funds Settlement Rules; 

An alternate Rule to operate on E-Way Bill till consolidated one is fixed; 

Hotel tariffs between Rs. 2000/- to Rs 7,500/- will attract 18% GST, 

whereas 28% GST rate will apply to hotel tariff above Rs. 7,500/-;

 2 GST rates for lotteries viz.

 28% for private & 12% on State authorized lotteries; 

Defers Returns filing due date for July & August to August 20 & September 20 respectively, introduces 

Form GSTR-3B for said two months to be filed on self-declaration basis reflecting supplies and output tax liability;

 GSTR-1 reflecting invoice wise outward supply details for July can be filed in the system by September 5, while that of August can be filed by September 20; 

New businesses would get 30 days to register under GST from June 25;

 FM Arun Jaitley says “want to use anti-profiteering only as a deterrent, hope not compelled to use it”;

 Next GST Council meeting to be held on June 30 : FM Arun Jaitley

2 thoughts on “GST will rollout from 30th June midnight, certain exemptions in transitional phase.”

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    1. EDITOR Founder
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