After a long pause, the GST council meeting has resumed with a new finance minister in place. All eyes are set on Nirmala Sitaraman and her council of ministers as businesses hope for some relief in the upcoming 35th GST council meeting.
Agenda for GST Council Meeting today:
1. Integrating GST E-way Bill with NHAI FastTag
2. B2B E-invoicing for entities with a turnover exceeding ₹50 crores.
3. Reduction in rate of tax for electric vehicles.
4. Extension of Tenure of National Anti-profiteering Authority till 30.11.2020.
5. Approval of new GST Returns format.
6. Setting up Tribunal for North Eastern states.
7. Setting up Combined tribunal for UTs covered under UTGST
8. Levy of GST on Extra Neutral alcohol.
9. Consideration of mandatory RFID for e-way bills
10. Single point refund disbursement to taxpayers, doing away with multiple authorities.
11. Mandatory e-ticket for movies at the state levels.
12. Extension of due dates for filing of GSTR 9/9C. Deliberations to take place on increasing the limit of ₹ 2 crores for purposes of audit under GST.
