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Previous Council Meeting (17th) –June 18, 2017 (Delhi)

Today’s Council Meeting (18th ) –June 30, 2017 (Delhi)

Next Council Meeting (19th) –August 5, 2017

GST IMPLEMENTED FROM JULY 01, 2017

Agenda of meeting: the meeting was originally called just to thank the council members for helping in the implementation of GST. There was no formal agenda for the council.

The GST launched at midnight of June 30, 2017 by Prime Minister Narendra Modi, in the presence of President Pranab Mukherjee from the Parliament’s Central Hall.

GST Council

The major highlights of the meeting are:

  • The tax rate on fertilizers have been reduced to 5% from previously decided 12%
  • Tax rate on Exclusive parts of tractors has been cut to 18% from 28%

“In GST Council meeting, some additional sets of rules were approved. Other than this, many states had raised concern that the 12% GST rate proposed on fertilizers might increase the tax burden on farmers. Keeping in mind the tax rates on fertilizers prevailing in different states, the Council decided to lower it to 5%,” said the finance minister, who chairs the GST Council.

Check Out GST Common Portal Here

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Gaurav Agarwal Practicing Chartered Accountant Specialised in upcoming GST and its implementation has vast experience in rendering Taxation & advisory Services. He handled several assignments related to Insurance Companies, Automobile, Real Estate, Manufacturing industries and Banks etc. Mr Ga View Full Profile

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