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Experts also noted that the establishment of the GST Appellate Tribunals agenda is pending for a long, given that the indirect tax regime has now completed 5 years. A number of other cases are also pending in the High Courts.
The GST Council is likely to meet in-person in next year February, after the Union Budget 2023-24 presentation. “The GST Council is expected to meet every quarter and classically once meets after the Union Budget. However, no date has been finalized, but may meet in February next,” said a person familiar with the development.
In its 48th GST Council meeting on Saturday, the Council could not take up key matters on its agenda, like the report by the Group of Ministers for establishing the GST Appellate Tribunals, which has left trade and industry disappointed.
Finance minister Nirmala Sitharaman, who chairs the GST Council meeting told reporters that there was a special request by some states to end the council meeting by 1:30 pm as they had some other committed business. Initially, the Council was expected to meet for the entire day.
Also Read - Key highlights on 48th GST Council Meeting
“It was recommended that if any agenda is left discussing, we’ll carry it to the next GST council meeting. This suggestion was put forward to the house and ministers agreed to conclude it at 1:30 and take the remaining agenda forward for the next meeting,” she said. The 48th GST Council Met completed 8 of the 15 agenda points finalized for the council meeting.
“The GST Council was met after a long time but due to lack of time, many of the major decisions could not be considered. The major clarification on tax rates is particularly welcome as there has been a lot of confusion over this. But why does the GST Council need such a long time to decide on GST tribunal formation?” noted the head of an industry body.
Nirmala Sitharaman also said; the government is trying to take up the report of the GST tribunals at soon as possible but the date for the next meeting has not been decided.
Sanjeev Sachdeva, Partner, Luthra, and Luthra Law Offices India said, “It was expected that the GST Council would decide on the formation of the Appellate Tribunals for GST. There is no decision as yet on this, and after over 5 years of introduction of GST there is still no statutory appellate tribunal.”
It is expected that the GST Council in its next meeting will consider the three GoM reports on GST Appellate Tribunals i.e. online gaming, horse racing, and casinos. Also, on capacity-based taxation of gutkha firms and pan masala.
Revenue Secretary Sanjay Malhotra said; other pending matters from the 48th GST Council meeting include issues associated with the GSTN and revenue figures.
If you need any assistance or clarification in regard to GST-related matters, feel free to contact the ASC Group.
Source: Financial Express
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