GST Council Likely to Meet in September to Discuss Key Issues

 

UV INDIA NEWS: The GST Council is expected to convene in early September to address several important matters, including expanding the tax base, clarifying rules to reduce tax disputes, and reviewing the process of tax rate rationalisation. This meeting, tentatively set for September 9, will involve central and state government representatives.

At the previous quarterly meeting in July, the Council discussed potential legislative amendments that could be included in the upcoming Union budget. The forthcoming meeting, chaired by Union Finance Minister Nirmala Sitharaman, will explore pending issues, such as more precise guidelines to minimise legal disputes arising from tax interpretations.

The Council will also likely examine industry-specific practices, such as those related to software exports and the airline sector, which have recently come under scrutiny due to tax notices issued to some companies.

While the final agenda is still being set, a ministerial group led by Bihar Deputy Chief Minister Samrat Chaudhary will present updates on efforts to rationalise GST rates, potentially sparking further discussions on rate adjustments. This consultative process is anticipated to be extensive, as changes to the rate structure could lead to significant revisions across various sectors.

Experts suggest that this meeting may drive momentum for broader reforms, focusing on tax rate adjustments, simplifying compliance, and resolving disputes.