GST Council meeting likely to be rescheduled to first week of March from 18th Feb

GST Council meeting is likely to be rescheduled to first week of March. Earlier, it was scheduled to take place on February 18.

Sources confirmed to businessline about the new schedule. It is believed that since many State Assemblies are having Budget sessions, it may be difficult for the Minister in-charge of Finance or any nominated one to attend the meeting in-person on February 18.

The meeting will discuss, among other things, reports of Group of Ministers on Part agenda of the meeting has already been disclosed. These include three Group of Ministers (GoM) reports.

Recommendation related with setting up of GST Appellate Tribunal. Last week, in an interview to businessline, Revenue Secretary Sanjay Malhotra had said that the tribunal will be set up on priority.

"One thing which is urgent is the GST tribunal. Even in the chief secretaries conference, this was pointed out. This is one thing that we would like to set up," he said.

GoM, headed by Haryana Deputy CM Dushyant Chautala, in its report on setting up of the Goods and Services Tax Appellate Tribunals (GSTAT) has recommended that the tribunals will hear appeals against orders passed by commissioners/appellate authority and would comprise a president, two judicial members, one technical member each from the Centre and State.

According to sources, GoM also suggested that a single-member Bench is likely to be authorised to hear cases of tax dispute below ₹50 lakh, while cases involving amounts more than ₹50 lakh would have to be heard by a double member Bench. The proposal is to have a Principal Bench in New Delhi and similar Benches at the state-level. The appellate body’s president is likely to be a retired Judge of the Supreme Court or former Chief Justice of a High Court, the sources said

The second GoM report dealt with tax-related matters concerning pan-masala and gutkha making companies. The GoM is led by Odisha Finance Minister Niranjan Pujari has suggested a ‘specific tax-based levy’. It is expected that implementation of this report will help in plugging revenue leakages. .

The third GoM report dealt with tax on on online gaming, casinos and horse racing. The GoM was headed by Meghalaya Chief Minister Conrad Sangma and it has already submitted its report. The group is in favour of 28 per cent rate but it has not arrived at a consensus regarding base on which GST to be levied.

Besides these three reports, agenda may include issues related to easing regulatory compliances and revision of rates.