Key highlights of 37th GST Council Meeting
The GST Council in its 37th meeting headed by Union finance minister on 20th September, 2019 has announced the reduction of GST rates on few items and these new tax rates shall be in effect from 1st of October 2019. Besides, exemptions have been given to certain specified sectors. Similarly, in case of goods, GST rate changes have been made, measures taken for export promotion and GST concessions have been granted for specified period in some cases.
Draft Code on Social Security, 2019 released
Ministry of Labour and Employment on 17th September, 2019 has issued a preliminary draft of Code on Social Security 2019, inviting suggestions and comments from the stakeholders and public. The Draft Code proposes to amalgamate, simplify and rationalize the provisions of 8 Acts in order to provide adequate social security to all workers including unorganized sector.
CBDT notified new depreciation rates on vehicles
New depreciation rates have been notified by CBDT on vehicles purchased between 23.08.2019 to 31.03.2020. Depreciation rates have been increased for vehicles purchased between 23rd August 2019 to 31st March, 2020.
