GST Council to meet at Srinagar in May to finalise various rates - watsupptoday.com
GST Council to meet at Srinagar in May to finalise various rates
Posted 01 Apr 2017 01:14 PM

Agencies

NEW DELHI: The GST Council headed by Finance Minister Arun Jaitley will meet in Srinagar on May 18-19 to finalise the rates of different commodities and services as also to approve the remaining ones.

The GST Council on Friday approved half of the rules needed for rollout of the Goods and Services Tax (GST) regime from July 1.

Jaitley said the Council gave approval to amending the five rules on registration of entities under the GST regime, filing of returns, payment of tax and refund, invoicing and debit and credit notes in consonance with the GST law approved by Parliament this week.

These rules were cleared in the meeting of the council in September and on Friday, they were made in consonance with the Parliament-approved law.

Tentative approval was given to the remaining four rules of input tax credit, valuation, transition provisions and composition rules and the final approval will come at the next meeting to be held in Srinagar, he said.

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