GST may get reshape in next week for making compliance easier

GST may get reshape pic

13.01.2018: The 25th meeting of GST Council to be held on 18th January 2018 (Thursday) at Vigyan Bhawan, New Delhi.   It is expected that the council may take up the below recommendations made by the GST Council committees.

GST Returns to be Simplified

GST Council is going to look into the Recommendations proposed by the returns committee, the law committee and the handicrafts committee.  It is learned that the returns committee has proposed that the GST returns filing process be simplified.  They have suggested that the council combine the three different returns form into one.   These will further make compliance easier.

Cut rates on farm equipments

The information from reliable sources says that the fitment committee of the Council has finalized rate reduction on a few items and the matter would be taken up for discussion by the GST Council in its last meeting before the Union Budget.    This time the Council may possibly cut the GST rate on irrigation equipment to 12 percent from the current 18 percent.

Cut rates on Bio diesel and Electrical vehicles

GST rates on bio-diesel vehicles and on electrical vehicles may also be reduced to 18 percent from the current 28 percent.

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