Decision on States’ GST dues:

News:
  • A GST Council meeting is recently held by Finance Minister Nirmala Sitharaman.
  • The Council approved a slew of measures to ease tax compliance.
More in the news:
  • GST collections in the past two months have only reached 45% of the target amount.
  • Given the shortfall in revenue, the council will meet again in July to discuss the issue of compensation cess and dues to the States.
  • Under GST law, the Centre must pay the States full compensation for any shortfall in revenue collections until 2022.
  • The Council approved a slew of measures including reduction in late fees for past returns, and COVID-19 related relief for small tax payers.
Posted by Jawwad Kazi on 13th Jun 2020
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