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Published: July 4, 2023
Updated: July 4, 2023

Anticipated Discussions and Reforms at the 50th GST Council Meeting on July 11

The 50th GST Council meeting is scheduled to take place on July 11 at Vigyan Bhawan, New Delhi. Led by Finance Minister Nirmala Sitharaman, the council will convene to address several crucial matters, including combating tax evasion and fraud, reviewing the GoM report on online gaming, and establishing GST Appellate Tribunals.

Tightening the Grip on Tax Evasion: Geo-tagging likely

With a focus on curbing tax evasion, the council aims to implement additional measures to combat fake registrations and the fraudulent generation of input tax credit (ITC). Central Board of Indirect Taxes and Customs Chairman Vivek Johri mentioned that the council is considering further actions to be taken through the law committee and GST council, in line with due process.

GoM Report on Online Gaming and Convenor Appointment:

The council will discuss the report submitted by the Group of Ministers (GoM) on online gaming, casinos, and horse racing. The report, which was submitted in December last year, will be circulated among the states for further deliberation. Additionally, the council will appoint a convenor for the GoM on rate rationalisation, addressing the need for efficient tax rate allocation.

Establishment of GST Appellate Tribunals:

The long-awaited establishment of GST Appellate Tribunals will also be a key topic on the agenda. These tribunals aim to streamline and expedite indirect tax litigations, reducing the burden on taxpayers and courts. The council will soon appoint members after receiving approval, thereby enabling faster dispute resolution and relieving High Courts, which currently handle such cases.

Addressing Evasion through Additional Validations:

The GST Council will consider a proposal from the Central Board of Indirect Taxes and Customs (CBIC) to introduce additional validations in the GST return filing system. These validations will serve as a preventive measure against evasion and fraudulent input tax credit (ITC) claims. The introduction of validation and risk rating for GST registrations by the CBIC aims to tackle the issuance of fake bills and fraudulent ITC claims, safeguarding the revenue of the exchequer.

The upcoming 50th GST Council meeting holds significant importance in addressing key challenges within the GST framework. By focusing on combating tax evasion, reviewing the GoM report on online gaming, establishing GST Appellate Tribunals, and introducing additional validations, the council aims to strengthen the tax system, ensure compliance, and protect the interests of taxpayers and the national exchequer.