GST Tip – 179

In the CGST Bill as introduced in the Parliament, for registration under the Composition levy, prior permission of the tax officials is removed and also the tax rates have been reduced. The revised maximum rates for manufacturing is  1% previously it was 2.5%, in other cases (traders)  it is 0.5% previously it was 1%. In the case of restaurants, the rate should not be more than 2.5%.

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GST Tip – 162

The maximum tax rate applicable under CGST ss 20% , for  IGST  the tax rate cannot exceed 40% and for the UT GST Bill the max rate is given as 20% as per the CGST Bill, IGST Bill and UT – GST Bill introduced in the Parliment on 27th Mar 2017.