The praise-and Services Tax (GST) will come into effect from midnight on June 30, Finance Minister Arun Jaitley said. It made clear that there was no postponement of its implementation.The new tax system will be introduced in the festive atmosphere at Dilli on the 30th (Friday). He spoke to reporters after the meeting of the 17th GSTC meeting in Vigyanchavan here on Sunday. He said some of the rumors are for some time to provide merchants for the first two months. These options will continue until August, and the new rules will be strictly enforced from September.
GST Northeast exceptions:
Composition before the scope of the scheme to increase to Rs 75 lakh, Rs 50 lakh and asked to cut some of the north-eastern states. Asked to reduce the limits of their position in the business of their states.
These states have a special status according to Article 279-A of the Constitution. Jammu and Kashmir did not come up with the issue. While Uttarakhand has a special status, the composion limit is to be kept at Rs 75 lakh.
Excluding those two states, the rest of the northeastern states and hilly Himachal Pradesh have reduced the limit of the limit of Rs 50 lakh. The merchants of this range are required to submit a return period every three months, not every month. Tax burden is also 1 percent in some cases. But they do not get tax refunds (input tax credit).
Two types of taxes on lottery
Three types of policies are currently in the country on the lottery. While some states prohibit lotteries, governments in some other states. In some places, private enterprises are running a lottery with government approval.
States have a tax on the face of their own lottery, 12% in the face of the lottery, and 28% tax on the face of the lottery operated by private firms with government approval.
The GST is not burdened if the turnover of Rs. 20 lakhs: 80.91 lakhs are registered in the Old Vat, Central Excise and Service tax system. Those with a turnover of less than 20 lakh are now exempt.
So far, GST has registered 65.06 lakh names. 81.1% had a temporary registration. Poor registration starts from June 25. Some people who are not able to do this are unwanted tweets on Twitter.
GST Vectors for the merchants
The GST has been able to recognize the difficulties in filing the returns and the merchants have the first two months of flexibility. Firstly, traders are required to pay taxes based on GSTR-3B form.
GST Special reference to real estate traders
The tax exemption by the GST is that the profits that have been made to the real estate traders should be transferred to customers. Otherwise, there are actions under the counterfeit restrictions.
The letter has been written to the Union Home Secretary to issue orders for all states to take action on this issue. He said that all states’ real estate control should be issued to suppliers. Although 12% tax on the real estate sector, tax refunds on other equipment will be beneficial to merchants.
There is no strict attitude towards unprofitable benefits
An unfriendly profit (Anti-Profiteering) rule does not intend to strictly surrender. A standing committee is set up for this. It examines the complaints. This committee will examine the complaints from the real estate sector.
E-Vibils are currently the oldest terms
Disagreements on e-vibils are expressed. The subsequent discussions continue and consolidate the final rules after consensus. Until then, the provisions in those states will run.
GST Ice cream in the nostril list
The naked list included ice cream, panmasala and tobacco. Ice cream is not included on the raw milk, so it is included. The other two are included in healthcare.
* Yachts aijiesti 5% (inputkredit) is.