GST Council adopts voting for decision |
Chaired by finance minister Nirmala Sitharaman, the GST Council, in its 38th meeting in Delhi on Wednesday, voted for uniform rate of 28% on lotteries across the country. Despite pressure to boost revenues amidst a shortfall, the GST Council chose not to tamper with the rates. The Council also decided to extend the annual date of GSTR 9 filing to January 31, 2020 and waive waive late fees for all taxpayers who have not filed GSTR1 from July 2017 to November 2019. While the Non-BJP ruled states alleged that the union government has refused to assure them of paying on time the GST dues guaranteed to them through a Constitutional amendment. The move to not tamper with the existing GST rates has been welcomed by the corporate world as frequent alterations create business difficulties. The GST Council also rationalised tax rate on woven and non-woven bags to 18%, added exemption has been given on long-term lease for industrial plots to facilitate setting up of industrial parks. This is the first time since the launch of the new overarching indirect tax that the Council has taken a decision through the voting route. During the voting, 21 states voted in favour of a uniform rate. The GST Council is seeking ways to plug revenue leakage, improving the efficiency of the GST system using technology and examine specific steps to augment revenue.
|
|
|
|