GST Council approved targeted rate changes, late fee waiver for past returns, composition scheme in principle, and pilot single interface refunds. The Council approved ratification of recent Central GST notifications, noted implementation and ITGRC decisions, reviewed revenue trends and created a GoM to analyse revenue shortfalls. It approved targeted rate rationalisations and Fitment Committee recommendations with directions to quantify revenue impacts, agreed procedural changes including late-fee waivers for specified past returns (subject to final filing), in principle expansion of composition for small service providers subject to thresholds, a centralized appellate mechanism for conflicting AAR/AAAR decisions, and a pilot single-interface automated refund disbursal integrating GSTN with PFMS; several rule and form amendments were authorised and deadlines extended.
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GST Council approved targeted rate changes, late fee waiver for past returns, composition scheme in principle, and pilot single interface refunds.
The Council approved ratification of recent Central GST notifications, noted implementation and ITGRC decisions, reviewed revenue trends and created a GoM to analyse revenue shortfalls. It approved targeted rate rationalisations and Fitment Committee recommendations with directions to quantify revenue impacts, agreed procedural changes including late-fee waivers for specified past returns (subject to final filing), in principle expansion of composition for small service providers subject to thresholds, a centralized appellate mechanism for conflicting AAR/AAAR decisions, and a pilot single-interface automated refund disbursal integrating GSTN with PFMS; several rule and form amendments were authorised and deadlines extended.
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