22nd GST COUNCIL MEETING DECISIONS

On Oct 7, 2017

DECISIONS TAKEN IN 22ND GST COUNCIL MEETING

1. Composition Scheme Limit enhanced to Rs. 1.00 Cr with 1% Tax for Traders, 2% for Manufacturrs & 5% for Restaurent
2. Filing of Returns upto Turnover of Rs. 1.50 Cr – Quarterly (Non Composition Assessee)
3. Refund to Exporters – To be Started from 10.10.2017 for July Month & 18.10.2017 for August Month manually
4. From now Onwards Refund will be granted immediately after filing the Return to the Exporters
5. Postponment of RCM till Dt. 31.03.2018
6. E way Bill implementation postponed till April 2018
7. PAN not needed for Jewellery below Rs. 2.00 Lacs
8. 5 Member Committee to be Constituted for review of Rate of GST for Restaurant & Inter State Sales Transaction for Composition Assessee and Exclusion of Exempted Goods from Total Turnover and ITC to Manufacturers opting Composition Scheme
9. E-Wallet Facility to Exporters from April 2018
10. Advance Licence Holder, 100% EOU, & EPCG Holder can export @ 0.1% till 31.03.2018
11. Exemption from Inter State Service from RCM if Service Provider is having below 20.00 Lacs Turnover
12. TDS / TCS postponed till April 2018
13. Rate of GST changed for 32 Items
14. Man Made Yarn to be Taxed at 12% in stead of 18%
15. Services Job Work of Jari from 12% to 5%
16. Printing Jobwork 5%
17. Govt. Contracts involving High Element of Labour @5%
18. Leasing of Vehicle abatement of 65% which are contracted before 01.07.2017

Wait for official Notification for these changes to take Place

Next Meeting on Dt. 09.11.2017 & 10.11.2017 at Guwahati