Wednesday , October 20 2021

GST Council decides to introduce new simplified tax filming model

The 27th meeting of the GST council took place in Delhi on Friday. There were several items on the agenda including detailed discussion on the first year’s revenue.

Addressing the news persons after the meeting, Union Finance Minister Arun Jaitley said that the members expressed satisfaction over revenue growth.

Jaitley informed that a new simpler model of return filing has been finalized and will be implemented in 6 months. This will be much more simpler to follow and will tremendously ease the filing of returns.

FM Arun Jaitley has said that Sugarcane farmers are in deep distress. He added that a separate group of five ministers within 2 weeks will make a recommendation to meet contingency of this kind when the cost of a commodity is higher than its selling price. He added that the Committee will be announced with in next 2 days.

Another important item discussed was change in ownership structure of GSTN.

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