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According to a senior official in Telangana Government, the next GST Council Meeting is scheduled on 9th September in Hyderabad. This is the third meeting which is organized by the GST Council
Amit Mitra, West Bengal Finance Minister, has communicated through a letter to Union Finance Minister Arun Jaitley requesting him to organize an urgent meeting of the GST officials to solve the problems being faced by small taxpayers, especially the problems relating to the technology or IT network.
The GST Council may reduce tax rates on job work to those who are making fabric to the garment and put it under 5 percent slab rate structure in the GST framework. The meeting will be conducted tomorrow and may be the industry have to register online for goods worth above Rs 50,000 before getting transported.
The Goods and Services Tax Council could take up at its next meeting tax assessment issues raised by sectoral bodies alongside a survey of the execution of the new GST tax regime, a top GST council official has said.
The goods and services tax has been into the economic structure of the nation from the last two weeks and now it’s time to review everything for a better control in upcoming prospects. The GST Council will be meeting today to have an overview of the goods and services and all the work done by the tax scheme.
On Sunday, the GST Council of India, in its 17th official meet gave some relaxation on return filing deadline until September and made the terrific anti-profiteering clause more pleasant. Moreover, the council also approved five set of rules and postponed a decision upon the E-Way Bill rule. The upcoming tax reform (GST) is going to be implemented at midnight on June 30, still, the Jammu and Kashmir, and Kerala are yet to give their approval on it.
The GST Council is again to set its 17th meeting on Sunday to discuss all those long awaited topic namely anti-profiteering and the e-way bill which was opposed by many sectors in which the transport sector was the major one.
A very significant time period has arrived as the GST is approaching at a fast pace towards the Indian taxation system. In this maintenance, the GST Council finally took a reformative step towards the redressal of various industry bodies by setting up a total 18 sectoral groups aimed to listen and resolve any particular issue stuck towards the GST roll out.
The government has finally taken a step towards the clarification of backdated tax credit being due within the transition towards GST scheme. In the latest notification, it is said that all the retailers and traders can declare filing within 90 days and claim a tax credit for transitioning of the stock after the implementation of the GST.
