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Home >> News >> GST: Businessmen get Two Month Relief for Filling Returns

GST: Businessmen get Two Month Relief for Filling Returns

Posted on: 19 Jun, 2017 Tags   GST Bill GST Council Arun Jaitley Finance Ministry

IndiaNewsonWeb: 19 Jun, 2017, The commodity and service tax (GST) will be applicable from midnight on 30th June. With this, the biggest tax reforms system will come into existence in the country after Independence. In the GST meeting on Sundays, separate taxes were fixed on government and private lottery. At the same time, the GST Council has given two months to fill the returns while giving great relief to the businessmen.

Finance Minister Arun Jaitley said that under the GST 12 percent of the lottery operated by the state government and a government-owned lottery will get 28 percent tax. He said that tax on lotteries in GST was an important issue. Some states favor favoring low tax. Now the GST Council meeting will be held on 30th June.

Finance Minister said that GST will be officially launching on mid-June 30 and will start working in Delhi from July 1. He told that hotel rooms up to Rs 7,500 or more expensive hotels would cost 28 per cent and hotel rooms worth 2,500 to 7,500 rupees would be taxed 18 per cent. He said that on such hotels, 18 percent tax will be charged as air conditioning restaurant. The Finance Minister said that the e-Bill will be discussed further, by then the alternative rules will be worked out.

Jaitley said that we do not have enough time to avoid GST. GST Council has decided to implement it from July 1. He said that IT preparation was discussed in detail and 65.6 lakh units had made temporary registration. During this time GST Council approved the Prevention of Profit and E-Bill Rules.

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