The agenda for the 27th meeting of the GST Council on 4th May 2018 has been set. The primary agenda that would occupy a major part of the discussions is the simplification of return filing process.
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The agenda for the 27th meeting of the GST Council on 4th May 2018 has been set. The primary agenda that would occupy a major part of the discussions is the simplification of return filing process.
The GST Council may soon pass on a proposal to allow businesses with zero (nil) tax liability for six continuous months to file GST returns bi-annually.
The changes in the proposed scrappage policy will impact the number of commercial vehicles under the policy and further control new CV demand as well, as per ICRA.
In a statement made on the occasion of the World Consumer Rights Day, Minister of Consumer Affairs, Food and Public Distribution Ram Vilas Paswan said that the government is not going to extend the date for selling pre-GST stock with revised MRP after this month.
On March 10, The GST Council will meet for its 26th meeting since the new GST Tax was levied last year. The deadline for filing of sales return i.e the GSTR-3B may be increased by three months till June.
Today, an official said that the GST Council will look after in finalizing the simpler version of GST return filing module that is proposed by Nandan Nilekani on the 26th meeting that will be going to held on March 10th.
In the upcoming 26th, GST council meeting which is to be held soon may not see any inclusion of real estate within the GST scheme as many of the states is not ready to give up the stamp duty revenue which is garnered in a huge number.
According to ICRA rating agency, the fertilizer manufacturers are likely to be benefited with the reduction in tax rates under the GST as the tax rates on phosphorus acid reduced from 18 percent to 12 percent.
The 25th GST council meeting which was chaired by the finance minister Arun Jaitley and state finance ministers offered a great relief to the educational institutes.