27th GST council meeting discusses change in GST rate for digital transactions and imposition of Sugar Cess

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..... 27th GST council meeting discusses change in GST rate for digital transactions and imposition of Sugar Cess - Goods and Services Tax - GST Dated:- 4-5-2018 - News - 1. Incentive to promote Digital Transactions: (a) Keeping in view the need to move towards a less cash economy, the Council has discussed in detail the proposal of a concession of 2% in GST rate [where the GST rate is 3% .....

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..... or more, 1% each from applicable CGST and SGST rates] on B2C supplies, for which payment is made through cheque or digital mode, subject to a ceiling of ₹ 100 per transaction, so as to incentivise promotion of digital payment. (b) The council has recommended for setting up of a Group of Ministers from State Governments to look into the proposal and make recommendations, before the nex .....

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..... t Council meeting, keeping in mind the views expressed in GST Council. 2. Imposition of Sugar Cess over and above 5% GST and reduction in GST rate on ethanol: (a) Keeping in view the record production of sugar in the current sugar season, and consequent depressed sugar prices and build-up of sugarcane arrears, the Council discussed the issue of imposition of sugar cess and reductio .....

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..... n in GST rate on ethanol in great detail. (b) The council has recommended for setting up of a Group of Ministers from State Governments to look into the proposal and make recommendations, within two weeks, keeping in mind the views expressed in GST Council in this regard. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI .....

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..... - TaxTMI - TMITax .....

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