States to list GST grievances of traders, industries

The 29th GST Council meeting, to be held on August 4, will discuss issues faced by the micro, small and medium enterprises (MSME) and ways to solve their problems.

The tax officials in states and Union territories will hold discussions with trade, industry bodies and small scale industries, with an aim to understand their issues and grievances relating to Goods and Services Tax (GST). 
 
The consolidated report, then, would be placed before the GST Council on August 4.
 
Earlier this week, the Central Board of Indirect Taxes and Customs (CBIC), in a letter, had suggested the GST Council secretariat to write to states and UTs to collect grievances/issues related to GST from industries, small businesses and trade bodies.
 
The GST Council secretariat will compile the suggestions and responses and send them to the CBIC by today.
 
The 29th GST Council meeting, to be held on August 4, will discuss issues faced by the micro, small and medium enterprises (MSME) and ways to solve their problems.
 
Finance Minister Piyush Goyal, in last Council meeting, said that the next meeting of the body will focus on simplification, rationalisation and relief to small taxpayers.
 
The 28th meeting was held on July 21 in Delhi under the chairmanship of Piyush Goyal, Union Minister for Railways, Coal, Finance & Corporate Affairs.
 
The Council has provided reliefs from GST taxation in a slew of services. These sectors are: agriculture, farming and food processing industry; education, training and skill development; and pension, social security and old age support.
 
Hotel industry has been given major relief by providing that the rate of tax on accommodation service shall be based on transaction value instead of declared tariff.
 
As a green initiative, GST on supply of e-books has been reduced from 18 to 5 per cent. 
 
The Council also approved the new GST return formats and associated changes in law.
 
It gave its go-ahead to quarterly filing of return for the small taxpayers having turnover below Rs 5 crore as an optional facility. 
 
Source: PTI, Media reports

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