The Goods and Services Tax (GST) Council met for the 28th time to discuss some crucial changes in the new indirect tax regime, for the first time in its second year. Several prolonged decisions such as simplification of returns filing and tax on sanitary napkins were finally taken in the meeting. The council has approved quarterly returns for enterprises with turnover less than Rs.5 cr. It is to be noted that the tax payments will continue on a monthly basis. In a major step, Sanitary Napkins exempted from GST going forward. Earlier, there was a 12% levy on the same. GST on consumer electronics – TV (up to 68 cms), Washing Machine, Refrigerator, mixer, juicer, grinder has been slashed from 28% to 18%. Interim finance minister Piyush Goyal said that the new rates will be applicable from July 27.

(Financial Express)