CBIC Chairman Sanjay Kumar Agarwal announced that decisions made at the last month’s GST Council meeting will be included in the upcoming Finance Bill to be presented in Parliament along with the Budget. The decisions include an amnesty scheme for the initial years of GST rollout and a sunset date for profiteering complaints. The 53rd GST Council meeting proposed rate rationalization for some goods and services and issued clarifications for some cases. The upcoming Finance Bill will detail the changes in direct and indirect taxes proposed in the Budget. The meeting also approved amendments to the Central GST Act to allow regularisation of non-levy or short levy of GST and to extend the period for filing appeals before the appellate tribunal. The council also decided to waive interest and penalties for demand notices issued under S.
Source A2ztaxcorp
