GST Council Meet Highlights: Rates on 29 Goods & 53 Services Changed

By Olga
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    Today was GST's 25th Council meet, the highlights of the meeting were as follows:

    GST Council Meet Highlights: Rates on 29 Goods & 53 Services Changed
    • The decision to change rates of 29 goods and 53 services were accepted.
    • These rates will come into force from 25th of January.
    • 3B returns to continue as of now. Sellers/suppliers should keep uploading their invoices.
    • E-way bill system testing will continue until January 25 and will be loaded from 1st of February. Those who do not follow will be penalized.
    • A few services have been moved from 18% to 12% GST rate.
    • GST has been exempted on 29 handicrafts, and rates on some others have been reduced.
    • Rates on some agri products reduced.
    • Integrated GST of Rs 35,000 crore will be provisionally divided between the Centre and states.
    • The decision on real estate and petroleum to be taken in the next council meet. The next meeting will be held via video-conferencing.

    Read more about: gst goods and service tax
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