GST rollout: approvals for compounding, enforcement, refunds, IGST rules, high-sea sales guidance, and 5% fertilizer rate. The Council approved amended Minutes and multiple Rule and Form changes for GST rollout: deferred TDS/TCS commencement, uniform 18% on IT software, supplier/aggregator taxation for certain guest houses, Rule 96 amendment allowing export under bond/LOU with electronic customs-GST portal interfaces for refunds, standardized compounding and enforcement procedures including provisional release on bond/security, adoption of CGST Rules as IGST Rules effective 22 June 2017, deemed 10% CIF valuation for certain freight IGST, amendment to Rule 117(1) to limit transitional credit to eligible duties and taxes, clarification that high-sea sales value-addition is includible for IGST at import, inclusion of fertilizers in 5% rate, and Chair authorization to classify exclusive tractor parts at 18%.
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GST rollout: approvals for compounding, enforcement, refunds, IGST rules, high-sea sales guidance, and 5% fertilizer rate.
The Council approved amended Minutes and multiple Rule and Form changes for GST rollout: deferred TDS/TCS commencement, uniform 18% on IT software, supplier/aggregator taxation for certain guest houses, Rule 96 amendment allowing export under bond/LOU with electronic customs-GST portal interfaces for refunds, standardized compounding and enforcement procedures including provisional release on bond/security, adoption of CGST Rules as IGST Rules effective 22 June 2017, deemed 10% CIF valuation for certain freight IGST, amendment to Rule 117(1) to limit transitional credit to eligible duties and taxes, clarification that high-sea sales value-addition is includible for IGST at import, inclusion of fertilizers in 5% rate, and Chair authorization to classify exclusive tractor parts at 18%.
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