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Effective rate of tax and credit available to the builders for payment of tax are summarized in the table for pre-GST and GST regime

Ministry of Finance Effective tax rate on complex, building, flat etc. 08 DEC 2018 It is brought to the notice of buyers of constructed property that there is no GST on sale of complex/ building and ready to move-in flats where sale takes place after issue of completion certificate by the competent authority. GST is […]

Extension of due dates for filing GST returns

Ministry of Finance Extension of due dates for filing GST returns 28 NOV 2018 In view of the disturbances caused to daily life by Cyclone Titli in the district of Srikakulam, Andhra Pradesh, and by Cyclone Gaza in eleven districts of Tamil Nadu viz., Cuddalore, Thiruvarur, Puddukottai, Dindigul, Nagapatinam, Theni, Thanjavur, Sivagangai, Tiruchirappalli, Karur and […]

No let-up in sanction of GST Refunds

Ministry of Finance No let-up in sanction of GST Refunds 08 NOV 2018 There are concerns being raised about growing pendency of GST Refunds. Exporters arereassured that there is no le-tup in the sanction of GST refunds. The disposal rate is consistently improving month-on-month. As on 31st October, 2018, total GST refunds to the tune […]

GST: Goods and Services Tax Council – Journey so far

¬†Ministry of Finance Goods and Services Tax Council – Journey so far; GST Council met 30 times, took 918 decisions since its Constitution; 96% of decisions already been implemented through 294 Notifications 28 OCT 2018 Till date, the Goods and Services Tax ( GST ) Council¬† has taken 918 decisions related to GST laws, rules, […]

GST Revenue Collections for the Financial Year 2017-18

Ministry of Finance GST Revenue Collections for the Financial Year 2017-18 Total Revenue of Rs. 7.19 lakh crore collected under GST in the period between August 2017 and March 2018 27 APR 2018 During 2017-18, total revenue collected under GST in the period between August 2017 and March 2018 has been Rs. 7.19 lakh crore. […]

Final Monthly collection figures of GST

Ministry of Finance Final Monthly collection figures of GST 02 APR 2018 The revenue collection figures under GST including CGST, SGST, IGST and cess for the period July 2017 – February 2018 paid in the period July 2017 – March 2018 is as follows: Figures in Rs. Crores) Month GST Collection August 93,590 September 93,029 […]

Recommendations made by the GST Council for the Housing Sector to promote Affordable Housing for the masses come into force

Ministry of Finance Recommendations made by the GST Council for the Housing Sector to promote Affordable Housing for the masses come into force; Concessional Rate of GST of 12% extended to construction of houses constructed/ acquired under the Credit Linked Subsidy Scheme for EWS, LIG, MIG sections Posted On: 07 FEB 2018 1:45PM by PIB […]

GST Council recommends relief in GST on Circus, Dance and Theatrical Performances

Ministry of Finance GST Council recommends relief in GST on Circus, Dance and Theatrical Performances Threshold Exemption under GST for admission to such cultural and sports events in the country increased from Rs. 250 to Rs. 500 per person. 7 FEB 2018 1:48PM In its Meeting held on 18th January, 2018, the GST Council has […]