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The much-awaited Goods and Services Tax Appellate Tribunal (GST-AT) has been given approval from the GST Council. The GST-AT will be set up in the form of a higher judicial forum which is going to look into the redressal disputes of businesses under the new Goods and Services Tax regime.
Soon the Special Economic Zones Rules 2006, to comply with goods and services tax compliance after the much conclusive 28th GST council meeting.
The Income Tax department has updated a form to fill with information regarding the general anti-avoidance rules (GAAR), the goods and services tax (GST), and secondary adjustments.
The home minister Rajnath Singh has assured that the central government is still open to consider any GST rate reduction in the view of recent 28th GST council meeting decisions.
The next GST Council meeting is going to take place on July 21. A proposal is about to come in front of GST council considering the establishment of the National Appellate Tribunal in Delhi
GST collection is been positive for a long time and now is the time, that the government should think upon the correct and optimum usage of the GST tax collections.
Speaking during the seminar held by Chhattisgarh Chamber of Commerce and Industries (CCCI), Finance Minister Piyush Goyal said that the past one year of GST was quite good and the government managed to get sufficient revenue from the indirect tax.
Arvind Subramanian, Chief Economic Advisor India mentioned in a statement that introducing a single GST rate is not relevant in India instead a three slab GST rate framework is a better option for stabilizing the revenues.
The recent proposals made by the government in the GST Law are expected to provide solutions for various ongoing GST issues for which companies and associations have filed writ petitions in the court.
