SIMPLIFICATION OF RETURNS
GST Council today in its 27th meeting approved principles
for filing of new return design based on the recommendations of the Group
of Ministers on IT simplification.
CHANGE IN THE SHAREHOLDING PATTERN OF GSTN
Presently, the Central Government and State Government are
holding 24.5% equity shares respectively and the remaining 51% are held by
non-Governmental institutions and through various mechanisms, GSTN is under
strategic control of government.
Considering the nature of ‘state’ function performed by
GSTN, Council in its meeting held today decided that GSTN be converted
into be a fully owned government Company.
INCENTIVE TO PROMOTE DIGITAL TRANSACTIONS
Keeping in view the need to move towards a less cash
economy, the Council has discussed in detail the proposal of a concession of 2%
in GST rate [where the GST rate is 3% or more, 1% each from applicable CGST and
SGST rates] on B2C supplies, for which payment is made through cheque or
digital mode, subject to a ceiling of Rs. 100 per transaction, so as to
incentivise promotion of digital payment.
The council has recommended for setting up of a Group of
Ministers from State Governments to look into the proposal and make
recommendations, before the next Council meeting, keeping in mind the views
expressed in GST Council.
IMPOSITION OF SUGAR CESS OVER AND ABOVE 5% GST AND REDUCTION
IN GST RATE ON ETHANOL
The council has recommended for setting up of a Group of Ministers from State Governments to look into the proposal and make recommendations, within two weeks, keeping in mind the views expressed in GST Council in this regard.
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