GST framework approved with revised arrest thresholds, tribunal appeal pre-deposits, ITC limits, anti-profiteering and compensation funding. The Council approved the draft GST, IGST and Compensation Laws with specified revisions: arrest/prosecution provisions narrowed with arrest thresholds and repeat-offence coverage; Tribunal structure refined with joint selection of State vice chairpersons and pre-deposit fixed at 10% (first appeal) and 20% (Tribunal); deletion of Section 95(2); advance ruling and compliance rating procedures adjusted; ITC benefit excluded for pipelines and telecom towers; anti-profiteering retained by notification; GST on land/buildings deferred; Compensation Fund to comprise cess and other revenues and bi-monthly payments to States.
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GST framework approved with revised arrest thresholds, tribunal appeal pre-deposits, ITC limits, anti-profiteering and compensation funding.
The Council approved the draft GST, IGST and Compensation Laws with specified revisions: arrest/prosecution provisions narrowed with arrest thresholds and repeat-offence coverage; Tribunal structure refined with joint selection of State vice chairpersons and pre-deposit fixed at 10% (first appeal) and 20% (Tribunal); deletion of Section 95(2); advance ruling and compliance rating procedures adjusted; ITC benefit excluded for pipelines and telecom towers; anti-profiteering retained by notification; GST on land/buildings deferred; Compensation Fund to comprise cess and other revenues and bi-monthly payments to States.
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