GST Council Approved Major Structural Changes in GST Network

GST Council has approved making GST-Network a government entity by taking over 51% stake that was held by private entities, revealed FM Arun Jaitley. Finance minister added, "Central government to own 50% in GST-Network; states to collectively hold the remaining 50%." West Bengal FM Amit Mitra also revealed that states are opposing levy of sugar cess over and above the GST rate. Arun Jaitley also revealed that the GST Council has referred issue of giving 2% incentive for digital payments to a 5-member committee. He added that the GST Council has also deferrred the decision on imposing cess on sugar; the issue has been referred to group of five state FMs.

GST Council has approved making GST-Network a government entity by taking over 51% stake that was held by private entities, revealed FM Arun Jaitley . finance minister added, "Central government to own 50% in GST-Network; states to collectively hold the remaining 50%."

Finance Secretary Hasmukh Adhia in his reaction said that the new system of single monthly return for GST to come into force in six months