55th GST Council to deliberate on closure of GoM on Revenue Analysis from GST
Alert: GoM was constituted in 2019
Alert: GoM has been re-constituted time and again; could not give a comprehensive report
✅ 55th GST Council GoM under MoS Shri Pankaj Chaudhary on Restructuring of Compensation Cess likely to submit status report; GoM likely to seek 3-mnth extension; Council likely to grant an extension
✅ 55th GST Council likely to discuss and approve rules & procedure of functioning of GST Appellate Tribunal to initiate early functioning of Appellate Tribunals; to reduce legal burden of courts and for industry
✅ 55th GST Council likely to get clarity on details of unregistered recipient & declaration of place of supply of ONLINE SERVICES
Proposal likely to bring in ease of doing business for Online services sector
✅ 55th GST Council likely to create a provision to grant TEMPORARY IDENTIFICATION NUMBER to those not liable for a PERMANENT REGISTRATION
✅ 55th GST Council to discuss CONCEPT NOTE for issuing GST REGISTRATION BASED ON RISK ASSESSMENT, Council likely to deliberate on DIFFERENT CATEGORIES OF REGISTRATION ON RISK PROFILE
✅ 55th GST Council likely to discuss ALLOWING PASSING OF Input Tax Credit BENEFIT based on RISK PROFILE
✅ 55th GST Council likely to make it mandatory to have Signature/e-signature of Supplier on e-invoice
Measure to help curb tax-leakage; fake billing, fake ITC.
[As per @CNBCTV18Live @TimsyJaipuria]
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