Indopol Food Processing Machinery Private Limited - Faridabad

Important decisions have been taken in the 28th meeting of the GST Council headed by Finance Minister Piyush Goyal. It has been decided to exclude sanitary napkins from GST and reduce tax on shoes and slippers of Rs 1000 to 5 per cent. Apart from this, the tax on the washing machine has been reduced by 28 percent to 18 percent. After these decisions in the meeting, all these items will become cheap. Let us tell you that it has been agreed to simplify the GST return rules for traders. Now the GST return filling form will be of only 1 page. At the same time, 3 times a month have got freedom from the mess of returns. Finance Minister Piyush Goyal said that these changes will make more than 100 items cheaper. All decisions taken in the meeting will come into effect from July 27. Apart from this, 5% tax will be levied on footware up to Rs 1000, which was Rs 500 earlier. These goods are outside the tax net - Finance Minister has told in the press conference after the meeting that tax has been abolished with sanitary napkins. Also, the GST has been removed from the statues of stone, marble, rakhi and wood and the leaves of sal. GST from 18 per cent to 18 per cent - Lithium battery, vacuum cleaner, food grinder, mixer, storage water hitter, head dryer, hand dryer, paint, varnish, water cooler, milk cooler, ice cream cooler, perfumes, toilet spray Has been cent per cent. Earlier these goods were taxed at 28. Tax on these items was reduced to 12 percent - Finance Minister said that tax on handbags, jewelery box, wooden box used for painting, artware glass, handmade lamps etc. has been reduced to 12 percent. Big relief to traders - Earlier, it has been agreed to ease GST return rules for traders. Now the GST return filling form will be of only 1 page. At the same time, 3 times a month have got freedom from the mess of returns. Those with a turnover of up to Rs 5 crore will have to file quarterly returns. Special meeting of GST Council on August 4 - Finance Minister said that in the special meeting of GST Council on August 4, relief will be given to the MSME sector. This meeting will be held in Delhi. Reverse charge mechanism till 30 September - Finance Minister said that reverse charge mechanism has been postponed till 30 September. What is Reverse Charge Mechanism - Under reverse charge mechanism, a person acquiring goods or services has to collect GST and submit it to the government. This provision is not working right now. It was used only for an unregistered person supplying goods or services or both. In such a case, the person taking goods or service has to collect GST and collect it on reverse charge basis. This will ensure payment of tax. The government believes that by amending the law, reverse charge should be allowed to be implemented. This can be imposed in the case that there is a possibility of tax evasion on a large scale. The person said that it will not be mandatory, but it will be implemented where it is needed. It can be started with the composition scheme.