https://www.taxtmi.com/news?id=19390 Recommendations implement a structured revision of GST rates, IGST and Compensation Cess across multiple tariff lines by reducing and, in a limited case, increasing rates for specified goods, designating certain items as nil or low-rated, and prescribing cess and IGST treatment changes. Clarifications restrict low-rate treatment to particular chapters or net retained quantities for certain feedstocks, impose no refund of unutilised input tax credit for specified reductions, and propose targeted IGST cuts for space and scientific equipment. The Council directed implementation by notification. en-us Thu, 18 Jan 2018 21:57:59 +0530 Fri, 19 Jan 2018 10:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=19390 Recommendations implement a structured revision of GST rates, IGST and Compensation Cess across multiple tariff lines by reducing and, in a limited case, increasing rates for specified goods, designating certain items as nil or low-rated, and prescribing cess and IGST treatment changes. Clarifications restrict low-rate treatment to particular chapters or net retained quantities for certain feedstocks, impose no refund of unutilised input tax credit for specified reductions, and propose targeted IGST cuts for space and scientific equipment. The Council directed implementation by notification. News - Thu, 18 Jan 2018 21:57:59 +0530 https://www.taxtmi.com/news?id=19390