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27th GST Council Meeting: Key Highlights
May 08, 2018
The Goods and Services Tax (GST) council held its 27th meeting this Friday under the guidance of Arun Jaitley. The following are some of the key decisions that were made during the same:
- A green signal has been given for the government to acquire 100% of the GST Network (GSTN) which will make it a fully government-owned company
- A simplified GST return system will be launched in 6 months in which the taxpayers will have to file just 1 return per month
- A group of 5 ministers will be set up in 2 days to give a 2% discount in GST rate on B2B supplies capped at Rs. 100 per transaction for the digital payments. This is aimed at encouraging digital transactions.
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