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GST Council meeting on Sept 9 in Hyd

Staff Reporter, New Delhi
08/09/2017   0 Comments

The goods and services tax (GST) Council, will meet in Hyderabad on Saturday to consider the clarity of the cess on large cars and demands for relief on many branded agricultural produce and items of mass consumption.

The council, which has ministers from states and Union territories with legislatures as members and Finance Minister as Chairman is expected to review the functioning of the IT systems of the Goods and Services Tax Network (GSTN), the company that processes tax returns, in view of the difficulties like unable to take the huge load reported by businesses in filing returns.

Union government promulgated an ordinance on September 3, raising the maximum cess on medium-sized to large cars and sports utility vehicles (SUVs) from 15% to 25%, the council has to decide the quantum of increase to be enforced in view of revenue requirements. The cess goes to a fund meant to compensate states for revenue losses in the first five years of the GST regime.

Car makers have made representations to the council to refrain from raising the cess at present. 

The council will also discuss demands for giving relief to branded agriculture produce from the 5% tax. Unbranded agriculture produce is not taxed.

The council will deliberate on the performance of the IT infrastructure supporting GST. In view of the difficulties faced by businesses in filing returns, the deadline for filing detailed returns for the month of July and August were extended. The last date for filing returns on supplies made by companies is 10 September as per the revised schedule. GSTN on Saturday urged businesses to file returns by the deadline and avoid the hassles of late filing, apart from a late fee.
 

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