GST council has decided to reduce GST rates for transaction done digitally or using cheque.
The step is to increase digital transactions. It is applicable to only B2C transactions and not B2B.
GST rate will be reduced by 2%, maximum up to Rs. 100 per transaction.
Conditions for reduced GST rate:
- GST rate should be more than 3%
- Transaction should be using digital mode or cheque
- 1% from CGST and 1% from SGST will be deducted
- Maximum deduction of Rs. 100
It is good news for consumers availing services online. Now purchasing from online portals will be cheaper by 100 Rs.
This reduction is applicable to only goods or even services are eligible for reduced rate of GST tax?
Whether it should be shown in invoice or what?
GST returns have option for standard rates prescribed? How to show reduced rates in GST returns?
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