3 days ago
GST Council to Meet After Yearlong Gap on September 12
The GST Council is a group that helps decide India’s goods and services taxes.
It is scheduled to meet in New Delhi on September 12.
Government officers will meet one day earlier to prepare.
The Council has not met for more than a year.
Experts say the Council should make tax rules more certain and easier to follow.
They also want it to address disputes and input tax credit issues.
Another suggested topic is what should happen to the compensation cess.
The Council may also discuss simpler registration for some large businesses.
The 57th GST Council meeting is scheduled for September 12 in New Delhi.
A meeting of government officers is planned for September 11.
The Council has not met for more than a year, according to the report.
Experts have urged action on litigation, input tax credit, compensation cess and tax certainty.
The previous meeting reduced four GST slabs to 5% and 18%, with a 40% rate for sin and ultra-luxury goods.
- Who
- The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet.
- What
- The Council will hold its 57th meeting after a gap of more than a year.
- Where
- New Delhi.
- When
- The main meeting is scheduled for September 12, with an officers’ meeting on September 11.
- Why
- The meeting is expected to consider tax certainty, litigation, input tax credit, compensation cess and simplified business registration.
Key facts
- Meeting
- 57th GST Council meeting
- Main meeting date
- September 12
- Officers’ meeting
- September 11
- Location
- New Delhi
- Previous GST structure
- Four slabs: 5%, 12%, 18% and 28%
- New GST structure
- 5% and 18% slabs, plus a 40% rate for ultra-luxury and sin goods
- Suggested business reform
- Simplified GST registration for businesses with monthly tax credit above Rs 2.5 lakh
Quotes
Manoj Mishra
Partner and tax controversy management leader at Grant Thornton Bharat
“As GST enters its 10th year, the anticipated 57th GST Council meeting assumes significance far beyond another round of tax rate changes or procedural amendments, said Manoj Mishra, partner and tax controversy management leader, Grant Thornton Bharat. “The forthcoming 57th meeting now presents an opportunity to build on that foundation by shifting the reform agenda beyond revenue considerations towards greater policy certainty, technology-driven administration and a more predictable tax 1f1f1f1f1”
financialexpress.com
Sources
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