Tag: council

The 18th GST Council Meeting was held a couple of hours before the mega launch of GST and made some important announcements, providing huge relief to the farmers. The meeting called to grant a vote of thanks without any formal agenda took up the cause of the farmers and reduced the reduced the tax rate

Introduction: An important query related to the transitional provisions under GST is regarding the treatment of VAT and CENVAT credit, in respect of stock held on 30 June 2017. The treatment will depend on the nature of registration of the organization under the present laws. Transitional Provisions for Input Tax Credit (ITC): Every registered person