- Finance Minister Nirmala Sitharaman assures further simplification and rationalisation of GST regime
- Introduced nine changes in GST law through Finance Bill to implement GST Council recommendations
- Group of Ministers assigned to recommend rate rationalisation
- Proposed amendments in CGST Act 2017, IGST, UTGST, and GST (Compensation to States) Acts
- Changes include excluding extra neutral alcohol from central tax, empowering government to regularise non-levy or short levy of central tax, and allowing input tax credit in returns filed within thirty days
- Experts believe changes will simplify compliance, provide relief, and support a robust GST framework.
Source: a2ztaxcorp.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
