Finance Minister Nirmala Sitharaman announced the reduction of GST rates in its 37th GST Council meeting held on 20 September, 2019. A brief summary of relevant recommendations (made by the Council) are as under:
- Law and Procedure related changes
- Exemption/ Changes in GST rates/ ITC Eligibility
- Criteria Exemption of Services
- Reverse Charge Mechanism (‘RCM’)
Additionally, it is pertinent to note that aforesaid recommendation would be effective once notification (i.e. 1 October 2019, recommended date by GST Council) in this regard would be issued.
We are pleased to send you a copy of THE NEWSFLASH on the “Recommendations made by GST council in its 37th meeting held on 20 September, 2019”.
Hope you will find it useful and informative.