GST law, as drafted and legislated, is not free from the interpretational hassles. Taxpayers have started challenging various provisions of GST laws and rules framed there under before various High Courts and about 50 petitions have been filed so far.
Authorized representative means a person who is authorized by a person to appear on his behalf. Section 2(15) of GST Act, 2017, provides that authorized representative means the representative as referred to in section 116.
Anti Profiteering is a check against profiteering – something which ought to be ethical but is now a legal issue in Goods and Service Tax.
The Council has recommended major relief in GST rates on certain goods and services by reduction in GST rate from 28% to 18% on goods falling in 178 headings at 4-digit level. After these changes, only 50 items will attract GST rate of 28%.
With 23rd meeting of GST Council scheduled for 9-10 November, 2017 to consider various implementation issues and rationalize rates etc, here are few suggestions which ought to be decided by the Council.
GST law, as drafted and legislated, does not come free from the interpretational hassles. Taxpayers have started challenging various provisions of GST laws and rules framed there under. High courts have taken a liberal stand so far in view of the fact that law is new and is yet evolving. However, CBEC has decided to move to supreme court where the verdict is against the Government.
The Tourism and Hospitality Industry in India, with its tremendous employment opportunities and is a big source of foreign exchange for India, is one of the major growth drivers in the service sector. As a result of its potential and enormous size, GST regime has a far reaching impact on it as GST affects every nook and corner of the business which is summarized as under –
Lets welcome yet another tax reform in the world in Gulf Countries. VAT is being introduced for the first time in Gulf countries as recommended by Gulf Cooperation Council (GCC).
In its 21st meeting held at Hyderabad on 9th September, 2017, GST Council formed a small Group of Ministers (GOM) led by me Sushil Modi, Dy. CM of Bihar who had earlier also been Chairman of erstwhile Empowered Committee. GOM has been given a mandate to look into GSTN technological glitches and ensure its smooth functioning by taking required steps. GSTN had earlier claimed that it is prepared for GST launch and it has robust system in place.
GST Council (GSTC) which met at Hyderabad on 9th September, 2017 for 21st time took may decisions, major ones being hike in Compensation Cess on automobiles (motor cars) and extension of return filing dates for July, 2017.
