13th GST Council Meeting: Important Takeaways
By: – Bimal jain
Goods and Services Tax – GST
Dated:- 3-4-2017
Dear Professional Colleague,
13th GST Council Meeting: Important Takeaways
The prospects of rollout of the Goods and Services Tax (GST) from July 1, 2017 has been brightened further, when the all-powerful GST Council chaired by the Hon'ble Finance Minister, Mr. Arun Jaitley met for the thirteenth time in a row to clear all gathered clouds over the GST and brightening its prospects of implementation soon.
With the conclusion of the 13th GST Council meet on March 31, 2017, the gist of the key takeaways from the meeting of the GST Council are as under:
* Five set of Draft Rules originally approved to be altered in
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in public domain for suggestions. These will be finalised in the GST Council's next meeting.
* Final approval to these 4 Draft Rules and rate structure to be taken up in next meeting:
The Hon'ble Finance Minister said that “The next meeting will be held on 18-19 May in Srinagar where besides these rules which will be given final approval, the rate structure in relation to individual commodities will be taken up for consideration. In the meanwhile, the officers' committee will start working on the fitment of those rates”.
Thus, the final nod to the new 4 sets of Draft Rules as well as fixation of GST rates for goods and services will be done in the next meeting of the GST Council scheduled on 18-19 May, 2017. From the recent series of st
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