GST Council in its 20th Meeting on 05 AUG 2017 (SAT) has approved the following:
# Authorize the FinMin to increase Cess on Motor Cars exceeding 1500CC or 4 Meters in length to 25% Vs 15%.
# E-Way bill will be implemented w.e.f. 1st OCT 2017.
• No e-Way bill for exempted goods.
• No e-Way bill for goods travelling within a radius of 10 kms.
# Anti-profiteering mechanism will be implemented by appointing state wise committees.
# Changed / Reduced GST Rates on the following items:
• Textile Job Works @ 5%
• Job work for printing of books, newspapers, etc. @ 5% (if Input used are supplied by the publisher), otherwise taxed @ 12%.
• Works Contract for Government @ 12% with full ITC.
• Agriculture Services provided post-Harvest and storage of food grains @ 12% Vs. 18%
• GTA given option to pay 12% GST with full ITC under forward charge or 5% GST without ITC (The option to be chosen at the beginning of financial year)
• Rent a Cab Operator – Given option to pay GST @ 12% with full ITC or 5% GST without ITC.
• Tractor Parts @ 18 % Vs. 28 %