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On the back of a dozen of rulings by Authority for Advance Rulings on Central Excise, Customs, and Service Tax matters, the GST council is now preparing to set up Appellate Mechanism in states.
Inspired by the continuous increase in tax compliance ever since the launch of the goods and services tax regime, the GST Council has set the target for GST revenue for the ongoing financial year (FY19) at Rs 12 trillion.
According to the officials, the government is planning to impose the cess on the supply of sugarcane as it will be discussed in the next Goods and Services Tax (GST) Council Meeting.
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.
