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It is now in the hands of GST council and all the Group of Minister (GoM) to decide the further sequence of tax refunds of Integrated goods and services tax.
To load off the GSTN glitches in return filing and pending issues, the Confederation Of Indian Industry (CII) urged the government for some revisions in return filing due dates and regulations.
The new guideline has mandated for tax base division between the centre and the states by the Goods and Services Tax (GST) Council. The move is taken to make the clear distinction between authorities and for better implementation of administration in the new Indirect tax system.
GST council chaired by Finance Minister Arun Jaitley, it is expected that the next council meeting will held on 24th October in New Delhi and the council members will discuss the rates of remaining 60 items.
The GST Council on 21st meeting in Hyderabad, head by Finance Minister Arun Jaitley with state counterparts, stated clearly to start registration for liable persons for tax deduction at source(TDS) and tax collection at source(TCS) from 18th of September.
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.
