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Jiaxing Wanxin New Material Co., Ltd.

Four More Months Till December

Jaitley further said that food stuff sold in open was categorised at zero per cent tax rate while the branded ones attracted 5 per cent. But status quo will be maintained on small petrol diesel cars, so even if it has got cheaper let consumers enjoy the benefit,” Jaitley said. Deadlines for other three returns to be filed under the GST regime have also been extended.Similar dispensation for certain categories of job work, excluding gold, has also been approved.Jaitley said overall GST collections have been robust with over 70 per cent of eligible taxpayers filing returns of about Rs 95,000 crore.The council, headed by Jaitley, however, decided not to levy any additional tax on small petrol and diesel cars of up to 1200 cc as well as on hybrid ones.The council also lowered the Goods and Services Tax (GST) rates for a number of daily-use products ranging from idli/dosa batter to kitchen gas lighter.

Subsequently, an Ordinance was promulgated and the council today looked into the quantum of hike. “Cess on cars with seating capacity above 10 but up to 13 as well as hybrid cars will remain unchanged,” he said.The date of implementation of the additional cess will be notified later. Photo: File/PTIHyderabad: Mid-sized and luxury cars as also SUVs will cost more after the GST Council on Saturday decided to levy China Laminated PP woven Machine-made Bags an additional 2 to 7 per cent cess on them but exempted small and hybrid cars from any hike.Also, the deadline for filing of sales return or GSTR-1 for the month of July, the first month of implementation of the new tax regime, has been extended by a month to October 10.Revenue Secretary Hasmukh Adhia said the council has decided that GSTR-3B will be filed for four more months till December. Two, if you have a mark or a name on which you are entitled to maintain actionable claim or exclusivity, then you have to pay 5 per cent,” Jaitley added. To fix this anomaly, the council raised the cess.

Khadi fabric sold through KVIC stores would be exempted, he said adding inter-state sales where turnover is less than Rs 20 lakh as also for artisans will not need registration.Jaitley said businesses can opt for Composition Scheme till September 30 and the council has also allowed businesses to make rectification in transition form TRAN-1 once. Date of GSTR 1, 2, 3 return filing for month of August will be informed later. On top of this, a cess of 1 to 15 per cent has been levied for the creation of a corpus to compensate states for any loss of revenue from implementation of GST. “If you fall in either of two categories, you will pay 5 per cent tax — one, if on May 15, 2017, you had a registered trade mark you have to pay 5 per cent GST.Unbranded food items are exempted from the GST, whereas branded and packaged food items attract 5 per cent rate.

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