Page 31 - Plastics News June 2017

FEATURES

Are we ready for GST?

4 Slab Rate Structure + Cess: 1 2 Registration Migration for:

• 0% to cover majority of the CPI Basket
• Migration process open from 1 June 2017
• 5% for Mass Consumption Goods
• 12% and 18% Standard Rate for Goods and
Services
• 28% on Luxury and demerit goods
• Additional Cess on specified goods Rates and Migration
Cess

• Robust GSTN Network Others From the Laws passed:
policymakers
• Administration of Assessees • CGST, IGST, UTGST and GST
Compensation Act passed
 Turnover below 1.5 crore –90:10
ratio for States and Centre • SGST Act already passed in 17 states
till 29.05.17
 Turnover above 1.5 crore – 50:50
ratio for States and Centre • Product / Services specific rates are
finalized in GST Council meeting on May 18 –
19
• ‘Realistic target’ of 1 July 2017 for GST
rollout
4 3
2

31 June 2017 | Plastics News