Breaking News:

GST Council to meet officials from 6 key sectors tomorrow

NEW DELHI: The all powerful GST Council headed by the Finance Minister will meet tomorrow the representatives of six crucial sectors, including IT, telecom, banking and insurance, to assess the implementation hurdles under the new GST regime.

Also, presentation will be made by sector representatives of Civil Aviation and Railways at the two-day GST Council meeting that begins here tomorrow, sources said.

Software association Nasscom, which is also scheduled to meet the GST Council, will voice its concerns over issues such as tax treatment of software, and also make a case for single registration under the new GST regime.

“We support the introduction of GST but the implementation of GST should not complicate the business operations of IT companies,” R Chandrashekar, President of Nasscom, said.

He said the software association would express concerns with regard to GST implementation during the meeting with GST Council tomorrow.

Nasscom’s concerns pertain to areas like classification of software, import of services from related parties, and taxation rules based on location of receiving services.

Stating that the first draft of GST law had classified all ‘intangibles’ as services thereby ensuring a uniform tax rate, the revised law removed the clarification. (AGENCIES)

related-video

Download Daily Excelsior Apps Now:

google-play-store-badgeappstore_button

Share With
This entry was posted in Latest News. Bookmark the permalink.