GST Council may levy GST based on the capacity of Manufacturing Units to curb GST Evasion

GST Council may levy GST based on the capacity of Manufacturing Units to curb GST Evasion

The Goods & Service Tax Council (GST Council) may levy GST based on the capacity of Manufacturing Units & introduce a special composition scheme to curb GST Evasion.

This step can be taken for specific tax evasion-prone sectors like pan masala and gutka, brick kilns, sand mining, etc.

The Council may also examine the impact of GST on reverse charge on metha oil. Further, some other classes of supplies may be added to the Reverse charge GST Provisions.

Source: Free Press Journal.

Please note that the 43rd GST Council Meeting will be held on 28th May 2021.

You May Also Refer: GST Late Fees Waiver | GST Amnesty Scheme with ITC | GST Council Meeting Expectations

from Studycafe https://ift.tt/2Syo1TW