Many large companies to move Appellate Authority against GST demand notices
In recent days, an increasing number of GST notices have been sent to many companies mainly on account of alleged discrepancy in input tax credit (ITC).
The GST Council meeting, which would discuss the crucial
issue of dual control or who will exercise control over GST assessees — the
Centre or the states — has been rescheduled for December 2-3, an official
said.
The meet was earlier scheduled to be held on November
25.
“The states desired some more time to internally
deliberate on revised draft of the laws within their respective state(s).
Therefore, the GST Council meeting scheduled for November 25, 2016, has been
rescheduled on December 2-3, 2016,” the Finance Ministry said in a
statement.
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Meanwhile, another meeting of the Law Sub-Committee
comprising of the officers of the states and the Centre has now been scheduled
for November 25 in the national capital to finalise the draft GST
related laws before these are placed before the GST Council.
“After finalisation of the draft GST related laws in
the meeting of officers on November 25, the same will be placed before the
GST Council,” the Finance Ministry said in a tweet.
Four draft bills — Central GST, State GST, Integrated GST
and state compensation matter for revenue losses — will have to be passed by
Parliament and state assemblies after the council approves them.
The consensus on the issue of dual empowerment remains
crucial as the government intends to place the GST bills in the ongoing winter
session of Parliament so as to implement the new indirect tax regime from April
1, 2017.
Sources in the Finance Ministry said that the government was
looking at bringing these as financial bills before Parliament, but if any
issue crops up, then it may even place them as money bills.
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