Tax Consultants | Comprehend the implications of GST rate changes outlined in Notification 20/2017. Stay informed to navigate the complexities of GST changes
GST Update
GST was made effective from 1.07.2017, only 53 days have passed and government has felt the need to tinker with the rates in a manner which will send all the connected industries and service providers back to the drawing board.
These changes relate to following services:
- 1. Works Contract Services
- 2. Transport of Passengers by Motor Cab
- 3. Renting of Motorcab Services
- 4. Goods Transport Services
- 5. Textile Jobwork Services
- 6. Treatment or processing in relation to printing of Newspapers, Books, journals etc
- 7. Printing services of newspapers, books, journals etc
Rate changes in works contract services will result in locking of a lot of credits and one will have to file refunds to unlock the same.