GST refunds to be decided on Friday

GST Council will decide on integrated GST refunds and ease-of-doing-business for small tax payers.

The GST refunds would be decided by the GST Council On Friday in New Delhi, said Bihar Dy CM Sushil Modi, who heads the Group of Ministers (GoM) overseeing the GST Network (GSTN).  

"The GST Council meeting on Friday will take important decisions on integrated GST refund and ease-of-doing-business for small tax payers," Modi said, following the second meeting of the GSTN in
New Delhi
. "Structural changes in the GST
 regime will also be deliberated in the upcoming Council meeting with the member states from across the country and will be announced by Union Finance Minister Arun Jaitley," he added.

The revamped GSTN, which can handle 80,000 returns in an hour, will be enhanced to process 130,000 returns per hour by this month-end. About 20 lakh traders who have not filed returns on purchase and sales will be alerted through SMS to file before the last date, which Modi clarified would not be extended. Infosys, which maintains the portal, will send its personnel to all the states for assisting their officials and taxpayers in operating the system.

Since July 1, over 23,18,000 new traders registered for the GST, with 11 lakh dealers under the composition scheme, taking the total number to over 85 lakh, including 62.25 lakh traders who migrated from the old VAT and service tax regime.

Source: IANS


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