FM Arun Jaitley to hold 25th GST Council meeting with his state counterparts today
FM Arun Jaitley to hold 25th GST Council meeting with his state counterparts today
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New Delhi [India], Jan 18 (NT): 25th meeting of the Goods and Services Tax (GST) Council will be held on Thursday. Finance Minister Arun Jaitley will be chairing here in which the council is likely to discuss on bringing real estate, stamp duty on a property before registration, petrol and diesel products under the domain of the taxation system.

Discussions are expected to take place on Prime Minister Narendra Modi's quest for practicing a digital-based economy, with a focus on incentivization of digital payment of taxes under the GST. The Council is also expected to make changes in the GST Law to smooth the progress of the release of locked input tax credit in tourism and hotel industry.

Jaitley with his state counterparts is also expected to scrutinize, representations received from various sectors on the subject of a cutback in GST rates for goods and services.

A key memo for the conference will be to calculate the reasons for the go down in GST revenue collection which is the major issue of concern for the finance ministry. Instead of this, the council is expected to analysis the awareness of GST Network (GSTN) in handling the return filing process.

Ahead of the final Union Budget 2018-2019 of Modi-led Cabinet, Jaitley will also hold a pre-budget meet with his state counterparts.(NT)

 

 

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