{"id":88707,"date":"2017-06-03T16:48:17","date_gmt":"2017-06-03T11:18:17","guid":{"rendered":"http:\/\/greattelangaana.com\/english\/?p=88707"},"modified":"2017-06-03T16:48:17","modified_gmt":"2017-06-03T11:18:17","slug":"gst-july-1","status":"publish","type":"post","link":"https:\/\/greattelangaana.com\/english\/gst-july-1\/","title":{"rendered":"GST from July 1"},"content":{"rendered":"<p style=\"text-align: justify;\">The Goods and Services Tax Council cleared the pending rules, including transition provisions and returns, with all the states agreeing to a July 1 rollout of the new tax regime.<\/p>\n<p>\u201cWe were discussing the rules and they have been completed. Transition rules have been cleared and everybody has agreed for July 1 rollout,\u201d Kerala finance minister Thomas Isaac told reporters in New Delhi.<br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\" wp-image-88708 aligncenter\" src=\"https:\/\/greattelangaana.com\/english\/wp-content\/uploads\/2017\/06\/aaa.jpg\" alt=\"GST from July 1 \" width=\"550\" height=\"310\" \/><br \/>\nThe GST Council had last month fitted over 1,200 goods and 500 services in the tax brackets of 5, 12, 18 and 28%.<\/p>\n<p>Finance minister Arun Jaitley chaired the 15th meeting of the GST Council which is scheduled to decide on tax rate of six items including gold, textiles and footwear.<br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\" wp-image-88709 aligncenter\" src=\"https:\/\/greattelangaana.com\/english\/wp-content\/uploads\/2017\/06\/16154859558_d535e03b81_b.jpg\" alt=\"  GST from July 1 \" width=\"516\" height=\"341\" srcset=\"https:\/\/greattelangaana.com\/english\/wp-content\/uploads\/2017\/06\/16154859558_d535e03b81_b.jpg 1024w, https:\/\/greattelangaana.com\/english\/wp-content\/uploads\/2017\/06\/16154859558_d535e03b81_b-768x507.jpg 768w\" sizes=\"auto, (max-width: 516px) 100vw, 516px\" \/><br \/>\nIsaac\u2019s statement of all states agreeing to the July 1 rollout assumes significance as West Bengal chief minister Mamata Banerjee had said that her state will not roll out the new indirect tax regime in its present form.<\/p>\n<p>However, Bengal finance minister Amit Mitra was in attendance at the meeting.The draft transition law provided that once GST is implemented, a company can claim credit of up to 40% of their Central GST dues for excise duty paid on stock held by businesses prior to the rollout.<br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\" wp-image-88710 aligncenter\" src=\"https:\/\/greattelangaana.com\/english\/wp-content\/uploads\/2017\/06\/BL31_STATES_AMIT_M_3169813f.jpg\" alt=\" GST from July 1 \" width=\"490\" height=\"404\" \/><br \/>\nSeveral dealers are choosing to wait and watch rather than buy and hold on to inventories. They have lobbied with the government seeking an increase in the credit limit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Goods and Services Tax Council cleared the pending rules, including transition provisions and returns, with all the states agreeing to a July 1 rollout of the new tax regime. \u201cWe were discussing the rules and they have been completed. Transition rules have been cleared and everybody has agreed for July 1 rollout,\u201d Kerala finance [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":88711,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,2],"tags":[3180,208,9565,45243,42831,45244,463,45245],"class_list":["post-88707","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politicalnews","category-top-stories","tag-arun-jaitley","tag-goods-and-services-tax","tag-gst","tag-gst-from-july-1","tag-july","tag-kerala-finance-minister-thomas-isaac","tag-new-delhi","tag-thomas-isaac"],"jetpack_featured_media_url":"https:\/\/greattelangaana.com\/english\/wp-content\/uploads\/2017\/06\/8.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/posts\/88707","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/comments?post=88707"}],"version-history":[{"count":0,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/posts\/88707\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/media\/88711"}],"wp:attachment":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/media?parent=88707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/categories?post=88707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/tags?post=88707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}