New GST Rates on 27 Commodities,SME's Rules for Exporter's
Last week the government announces the new rules and new rates on 27 commodities to offering relief to small and medium enterprises (SMEs) and exporters from the rigors of complying with the technology-oriented goods and services tax (GST), the federal indirect tax body, GST Council, on Friday announced a series of rule changes. The Council also lowered tax rates on 27 products and a few services and asked a panel of state ministers to examine if the 18% GST on air-conditioned restaurants could be lowered, finance minister Arun Jaitley said after the meeting. The council decided to go with the formula of 2 pre-GST, what it does that It makes easy for duty-free sourcing material till March 2018 for the export production, and this move will improve the liquidity of the exporter’s by protecting their capital of getting locked in the Tax process http://www.falconfreight.com/ The Council chose to clear all expense discount cases of exporters for July by 10 Octob...