TaxTMI 
TaxTMI 
Amid pressure from some states, the GST Council will soon start publishing rates of various products to prod companies to pass on gains, including those from input tax credit.
“To begin with, 150 items will be taken up. It will have a detailed explanation of previous taxes and prices as well as new prices after GST. It will also explain the price differential between the two tax regimes,” said an official who did not wish to be identified.
Goods and Service Tax
09 Aug 2017 
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Price transparency under GST to encourage passing on input tax credit benefits, alongside e-way bill and ITC clarifications.
The GST Council will publish illustrative product rates and price comparisons to push businesses to pass on input tax credit benefits; a mobile app lists tax rates. The Council finalised an e-way bill requirement for pre-registration of movement of goods beyond a monetary/distance threshold, excluding exempted goods. Clarifications note that pipelines laid outside factory premises are excluded from plant and machinery for ITC, while materials forming fixed structural supports for machinery are eligible for ITC under section 17(d). Practical procedural queries on removal of pre-GST used goods, sending machinery out for repair, and invoice cancellation are recorded. (AI Summary)
The GST Council will publish illustrative product rates and price comparisons to push businesses to pass on input tax credit benefits; a mobile app lists tax rates. The Council finalised an e-way bill requirement for pre-registration of movement of goods beyond a monetary/distance threshold, excluding exempted goods. Clarifications note that pipelines laid outside factory premises are excluded from plant and machinery for ITC, while materials forming fixed structural supports for machinery are eligible for ITC under section 17(d). Practical procedural queries on removal of pre-GST used goods, sending machinery out for repair, and invoice cancellation are recorded. (AI Summary)