Key Points
The Goods and Services Tax (GST) Council under the chairpersonship of finance minister Nirmala Sitharaman, after its first meeting on Saturday since the new government assumed office, has announced many changes to make compliance easier..
Among them are a waiver of interest and penalty on certain past tax demands, tweaks in monetary limits to reduce litigation, reduction in the pre-deposit amount needed for filing appeals and exemption of railway platform tickets, among other items..
These are welcome moves that will ease GSTs burden for some..
A reduced number of rate slabs and the inclusion of hydrocarbons under the regime must be matters of priority for GST to deliver on its promise of being a good and simple tax"..
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