Business

GST Council to decide on simplified GST return in July 21 meet: Goyal


New Delhi, Jul 12 (IANS): The GST Council will discuss ease of filing returns, ease of assessment and may also consider further rationalisation of tax rates in its upcoming meeting on July 21, Finance Minister Piyush Goyal said on Thursday.

He said the Goods and Services Tax (GST) Council had been responsive to industry demands and it will take the final call on further tax rate rationalisation based on achieving the right balance with revenue.

"The GST Council has already reduced rates on 328 items... there may be further rate reduction where there is a meritorious reason. It has to be in balance with revenue consideration," Goyal told reporters here.

According to the government data, revenue collection under GST in June crossed Rs 95,000 crore, higher than the average monthly collection of Rs 89,885 crore during 2017-18.

During the upcoming meeting, the Council is also expected to take a call on the simplified return filing process based on recommendations of the committee headed by Bihar Deputy Chief Minister Sushil Modi.

Finance Secretary Hasmukh Adhia had earlier said that GST had now entered a "smooth phase" with good tax compliance and that the priority of the government would now be simplification of tax return forms.


Leave a Comment

Title : GST Council to decide on simplified GST return in July 21 meet: Goyal


 
 
 
 

 
You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.


Security Validation

Enter the characters in the image