Sat, Jul 21, 2018
It may be recalled that in the 27th meeting held on 4th of May, 2018 the Council had approved the basic principles of GST return design and directed the law committee to finalize the return formats and changes in law.
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These amendments will now be placed before the parliament and the legislature of the state and union territories with legislatures for carrying out the amendments in the respective GST Acts.
It needs to be noted that, since the time GST has come into effect traders have been feeling heat of this regime and they have also complained about saying it has impacted their previous business operation which has made it difficult to record profits in their bookings.
The meeting was chaired by Union Minister of Railways, Coal, Finance and Corporate Affairs Piyush Goyal.
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