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Gst update

GST Council (20th) meeting Update

1. Total Registration- 86 lacs

2. E way bills given in-principle approval
a. Limit of 50000 not changed
b. Eway bill not to be issued for exempted goods
c. Eway bill not to be issued of goods are travelling within 10 km radius

3. Jobwork of all kinds of textiles will be taxed at 5%. Earlier some types of jobwork were taxed at 18%

4. Rates on tractor parts brought down to 18%

5. Government given work contracts like roads bridges canals will now be taxed at 12% with credits. Earlier this was 18%.

6. Anti profiteering mechanism will get kick started by appointing state wise committees

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