GST Council to discuss revenue fall on Thursday

NEW DELHI: The Goods and Services Tax Council (GST) is scheduled to meet on Thursday (January 11) to deliberate on reasons for the fall in revenue collection, as flagged as a major matter of concern for the finance ministry.

In November, the GST collection was Rs 80,808 crore, down from a provisional Rs 83,346 crore in October and a peak of over Rs 94,000 crore in July, as per data released on December 26.

A ministry official noted that states are getting very vocal about falling revenue, and therefore, have decided to discuss steps needed to boost collection.

Prior to this, a preparatory meeting of the GST Council's Fitment Committee is scheduled for today to discuss rates and simplification of returns.

Officials are likely to consider recommendations of the panel on returns, handicraft and GST Laws. The council is also likely to consider validity of handicrafts in the exempted category, and which other products can be placed in this category.

According to the official, certain amendments may be made in the GST Law during the council meeting on January 18.

 

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