29th GST Council Meeting Held on 04.08.2018: Highlights

Finance Minister Piyush Goyal addressed the 29th meeting of GST Council in order to address the various issues faced by the stakeholders.

In the meeting, council has proposed to incentivise digital transactions by allowing 20% cashback on GST payments made by users digitally.

1. Digital modes will include payments through Rupey Card,BHIM UPI, UPI AADHAR, USSSD.

2. Cashback of 20% on the GST Component will be credited to the consumers making payment which shall be limited to Rs. 100.

3. The project will be run on trial basis by the GST council to check whether the same increases tax payment compliances or not.

Further, in order to address the issues faced by MSME, a group of ministers has been formed which will be headed by Shiv Pratap Shukla, Minister of State of Finance along with members such asĀ  Delhi Finance minister Manish Sisodia, Bihar Dy.CM Sushil Modi etc. All the proposal relating to law related issues and rate cuts considered by law committee and fitment committee respectively will ve reviewed by the abovesaid group of ministers.

Gst council is yet to publish the minutes of the meeting held yesterday. The same can be downloaded from www.gstcouncil.gov.in

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