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GST Council meet begins: Tax cuts, SME relief, 'benami' crackdown on agenda

Chaired by Arun Jaitley, Council is likely to raise sales ceiling for small businesses from Rs 1 crore to Rs 1.5 crore

ANI  |  Guwahati 

GST council, Arun Jaitley
Union Finance Minister Arun Jaitley chairing the 23rd GST Council Meeting in Guwahati. Photo: ANI

The 23rd meeting of the (GST) is now underway and is being chaired by Union Finance Minister

The council is likely to deliberate on a number of topics, including extended liberalisation given to small traders, rate cuts on A/C restaurants from 18 to 12 per cent, and the issue of benami properties.

ALSO READ: GST Council may cut rates today: Restaurants, traders keep fingers crossed

The council is also expected to slash tax rates on various goods of common consumption such as handmade furniture, shampoo, sanitary ware, plywood, stationery articles, and play instruments, among others. It is also likely to deliver its decision on the proposal for big businesses to file quarterly instead of monthly, and raising the sales ceiling for small businesses from Rs 1 crore to Rs 1.5 crore, thus enabling them to capitalise on the are among the proposals before the GST Council.

Earlier in the day, Former Finance Minister P Chidambaram said he is hopeful of a "shower of changes in GST rates" in lieu of the council meeting.

ALSO READ: GST meet today: Congress FMs will force changes in rates, says Chidambaram

The senior Congress Party leader took to twitter and said:

Stating that debates on GST can no longer be avoided on a public domain, Chidambaram opined that the letter written by the Congress-ruled state finance ministers to Finance Minister Jaitley would "set the tone for discussions" during the meeting.

First Published: Fri, November 10 2017. 12:12 IST