GST Acts Amendments on 31st GST Council Meeting

GST Council Meeting, approval given for GST Law Amendments

 

 

31st GST Council meeting held on 22nd December, 2018 at New Delhi gave in principle approval to the following amendments in the GST Acts.

 

  1. Creation of a Centralised Appellate Authority for Advance Ruling (AAAR) to deal withcases of conflicting decisions by two or more State Appellate Advance Ruling Authorities on the same issue.

 

  1. Amendment of section 50 of the CGST Act to provide that interest should be charged only on the net tax liability of the taxpayer, after taking into account the admissible input tax credit, i.e. interest would be leviable only on the amount payable through the electronic cash ledger.

 

The above recommendations of the Council will be made effective only after the necessary amendments in the GST Acts are carried out.

 

 

Click here to know GST rate on Goods and Services

GST Exemption list of goods and services

Find HSN number or Service tariff code for GST

GST registration guidelines

Indian GST Laws

How to export your goods?

 

 


Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers