GST Council To Decide Tax Refund On Friday

The GST Council would decide on the integrated Goods and Services Tax refunds at its next meeting in New Delhi on Friday. The GST Council meeting on Friday will take important decisions on integrated GST refund and ease of doing business for small tax payers.

The Bihar Deputy Chief Minister Sushil Modi heads the five-member GoM, set up to look into the technical issues faced by the GST Network and address them in consultation with all stakeholders and its vendor global software major Infosys.

Sushil Modi said "Structural changes in the GST regime will also be deliberated in the upcoming Council meeting with the member states from across the country and will be announced by Union Finance Minister Arun Jaitley. Most of the IT-related glitches have been resolved and traders are finding the network easier to file their returns online."

About 20 lakh traders who have not filed returns on purchase and sales will be alerted through SMS to file before the last date, which Modi clarified would not be extended.

Infosys, which maintains the portal, will depute its technical personnel to all the states across the country for assisting their officials and tax payers in operating the system.

GSTN Chairman Ajay Bhushan Pandey and GSTN Chief Executive Officer Prakash Kumar assist the GoM in addressing the technical glitches, which have affected filing of returns by the traders since the new indirect tax regime was launched on July 1.

Since July 1, over 23,18,000 new traders registered for the GST, with 11 lakh dealers under the composition scheme, taking the total number to over 85 lakh, including 62.25 lakh traders who migrated from the old VAT and service tax regime.