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GST COUNCIL S 13TH MEETING AGENDA STILL UNFINISHED

GST COUNCIL S 13TH MEETING: AGENDA STILL UNFINISHED - Goods and Services Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 1-4-2017 Last Replied Date:- 3-4-2017 - GST Council (GSTC) met for the 13th time yesterday in last 6 months at New Delhi. The GSTC inter alia, decided on following - Approval to draft GST rules (5 out of 9) which were released in September 2016 duly aligned with GST law as approved by Lok Sabha on 29 March, 2017. The rules approved by GSTC are in relation to- Registration of ta .....

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ended on 31st March) as also for June, 2017 quarter has to be carried forward and properly accounted for keeping the input rules in mind. Similarly transition provisions should be known now as what one transits from 2016-17 to next fiscal may also go to post June GST era. Valuation rules will also help decide logistics arrangements and distribution chains as companies may like to amend their contracts from new fiscal year. Trade and industry will be left only with mere 41 days if such rules are .....

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