<h1>GST Council Approves Centralised Appellate Authority and Amends Section 50 for Interest on Net Tax Liability.</h1> The GST Council, during its 31st meeting in New Delhi, granted in-principle approval for amendments to the GST Acts. Key changes include the establishment of a Centralised Appellate Authority for Advance Ruling (AAAR) to address conflicting decisions by State Appellate Advance Ruling Authorities. Additionally, an amendment to section 50 of the CGST Act was approved, stipulating that interest should be charged only on the net tax liability after considering admissible input tax credit, meaning interest is levied only on amounts payable via the electronic cash ledger. These recommendations will be implemented following necessary legislative amendments.