Eating out to be cheaper as GST on all restaurants cut to 5%
Guwahati: Union Finance Minister Arun Jaitley addressed the media today after the conclusion of 23rd GST Council Meeting in Guwahati, Assam.
The FM said that the new GST rates which were announced earlier will be applicable from November 15.
Hotels with room rent of Rs 7,500 and above will attract 18% tax.
Six items have been shifted from 5% GST bracket to 0% basket
Eight items from 12% have been moved to 5%
Six items have been moved from 18% to 5% bracket.
13 items have been shifted to 12% from 18% GST bracket
Wheat grinders and armour fighting vehicles have been brought to 12 per cent
If there is a nil return to be filed then late filing penalty will be reduced to Rs 20. For others it has been reduced to Rs 50.: Hasmukh Adhia, Finance & Revenue Secretary
Filing of return for 3B will be continued till March. All tax payers will continue to file 3B till March 2018: Hasmukh Adhia, Finance & Revenue Secretary