All set for GST on 1st July, 2017…!!!

All set for GST on 1st July, 2017…!!!

 Highlights of 15th GST Council meeting held on 03rd June, 2016.

  • All States have agreed for 1st July, 2017 roll out
  • It is expected that credit of 40 per cent under draft transition law will be changed.
  • As of 2nd June, 2017 – 23 States/UT have passed SGST Acts.
  • GST Rates as per News Agency (Official details yet to be received by us)

 

Footwear below Rs. 500/- 5%
Footwear above Rs. 500/- 18%
Biscuits 18%
Beedis 28% without cess
Readymade garments 12%
Textiles (Natural Yarn, Fabric Cotton) 5%
Man-made Yarn 18%
Gold, Jems, Jewellery 3%
Rough Diamond 0.25%