From revising some rates to deciding on the thorny issue of compensation extension for states, here is what the Council is likely to take up
GST Council is likely to consider system-led enforcement reforms
Overall, the five years of GST have made life easier for exporters and importers, despite some rude shocks and unresolved issues
Exemptions may also be withdrawn on certain services such as business class flights from NE airports and certain hospital room categories
Currently, GSTR-3B of a taxpayer includes auto drafted input tax credit (ITC) statements based on inward and outward B2B supplies and also red flags any mismatch between GSTR-1 and 3B
Likely to take up GoM report on feasibility of system for intra-state movement of precious metals
The Council unlikely to decide on taking crypto assets in next week's meeting in Chandigarh.
Fitment panel proposes deeper study by Haryana and Karnataka and asks to submit report to the panel for further deliberations
While the twin deficit problem of widening fiscal and current account deficits has been spoken about, a third problem of widening deficit in the states also stares the Indian economy in the face
GST Council may discuss easing of registration norms for e-sellers
While tax evasion, technical glitches, and litigation continue to plague the indirect tax system, the revenue collections have picked up in recent months
July 1 will mark five years of goods and services tax (GST) in India. Starting today, we track the journey through a series of reports
No decision on rate rejig; to meet again for further deliberation
India likely to slash the GST rate on lithium-ion batteries from 18% to 5%
GST structure needs improvement
The finance ministry is working on the procedures of the GST dispute resolution mechanism as some of the states have been demanding
A meeting of the GST Council is expected this month or early next month. It may discuss the inverted duty structure, too
The notion that the recent Supreme Court ruling alters the nature of fiscal federalism is misplaced, but the Council would do well to set up dispute resolution tribunals
To be sure, the cooperative spirit has gone missing since about 2018, reflecting the heavy-handedness of the Centre, not just on the GST but across a range of issues
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