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Soumik Dey
Soumik Dey

TAX REFORM

GST Council to frame final rules, rate corrections

arun-jaitley-gst-review-pti Finance Minister Arun Jaitley | PTI

Sunday's GST Council meeting likely to be last before July rollout

With barely two weeks to go before the Goods and Services Act rolls out, the highest body of the unified tax regime, the GST Council, would conclude its meeting to frame the final rules of the GST. The 17th meeting of the GST Council, comprising state finance ministers and chaired by Union Finance Minister Arun Jaitley, is scheduled to be held in Delhi on Sunday.

The one-day meeting will have representations from 29 states and two Union territories. “The main agenda items are approval of draft GST rules and related forms for advance ruling, appeals and revision, assessment and audit e-way bill and anti-profiteering,” the finance ministry said in a press release.

Finalising the format of e-way bills and its method of verification during transit of goods has been a thorny issue so far for Jaitley and his close aide, Union revenue secretary Hasmukh Adhia.

In the meeting held on June 11, the finance ministry had received concerns from 133 industries on their GST rate fitment. 

Of these, concerns of 66 industries were addressed and rates were lowered for these items. But, for some, like hybrid cars, relief in the tax rates were denied. In Sunday's meeting, the remaining industries concerns would also have to be ironed out for the smooth rollout of GST.

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Topics : #GST

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