Goods And Services Taxes (GST): Existing tax liabilities of homebuyers remain unaffected under GST. GST on Rent and GST on Rental Income from residential properties stay exempted.
Summary of decisions and announcements of the 22nd GST Council Meeting. GST registration and return filing rules for SMEs have been changed in this meeting.
Promising to spin out multiple benefits, the implementation of the Goods and Services Tax (GST) is anticipated to bring a profound shift in the Indian economy.
Modi government is under criticism after the GST growth slumped to 5.7 per cent in the first quarter of the fiscal year 2017-2018.
It is unlikely that the government would want to tinker with the GST structure and introduce any slab higher than 28 percent. But if it decides to bring it under GST, it will be at a huge cost.
As per discussions held in the 22ndGST Council Meeting held under Chairmanship of Union Finance Minister Shri Arun Jaitley on 6thOctober 2017 the following chan