The Goods and Services Tax (GST) Council is set to hold its next meeting on September 9 in New Delhi, as confirmed by the council’s official social media handle on August 13. The upcoming meeting is expected to focus on key issues such as rate rationalization, reducing tax slabs, and removing duty inversion under GST.
Agenda Items
The GST Council meeting will likely take up issues related to rate rationalization and cases where Indian offices have received services from foreign branch offices, according to sources cited by CNBC-TV18. The meeting will also see the Group of Ministers on Rate Rationalization present a status update on their discussions so far.
Recent Developments
The upcoming meeting comes in the wake of a recent tax demand notice issued by the Directorate General of GST Intelligence (DGGI) to Infosys for alleged evasion worth Rs 32,000 crore. This notice had created a furore across the industry, with Nasscom issuing a statement on the demand. The meeting will also address the widely debated GST demand in recent months from foreign airlines and shipping lines over past dues.
Industry Expectations
Industry participants and taxation firms are expected to closely track the September meeting to seek clarity around the application of GST laws on these issues. The meeting is also expected to start discussions on reducing the number of tax slabs and removing duty inversion under GST.
Conclusion
The GST Council’s meeting on September 9 will be crucial in addressing the concerns of various industries and setting the stage for further reforms in the GST regime. The outcomes of this meeting will have far-reaching implications for businesses operating in India and will shape the future of indirect taxation in the country.
