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39th GST Council meet underway; govt may rationalise tax on mobile phones, shoes, textile

GST Council may rationalise tax rates on five sectors, including mobile phones, footwear and textiles, and defer implementation of the new return filing system and e-invoicing

twitter-logoBusinessToday.In | March 14, 2020 | Updated 18:35 IST
39th GST Council meet underway; govt may rationalise tax on mobile phones, shoes, textile
GST Council may also discuss the integration of the GST e-way bill system with the NHAI's FASTag mechanism from April

Union Finance Minister Nirmala Sitharaman, along with MoS Finance Anurag Thakur, is chairing the 39th GST Council meeting in New Delhi today. The meeting is also being attended by finance ministers of different states and UTs and other senior officers.

Also read: GST Council Meet: Mobile phones prices to go up as govt hikes tax rate to 18%

As per speculations, the GST Council may rationalise tax rates on five sectors, including mobile phones, footwear and textiles, and defer implementation of the new return filing system and e-invoicing.

The Council may also discuss operational glitches on the GST Network portal and seek a resolution plan from Infosys, which has won the contract for managing back-end for GSTN in 2015, officials told PTI.

Further, ways to augment revenue collection would also be discussed as the Centre has made it clear to the states that it does not have money in compensation funds to pay off the states for loss in revenue due to the goods and services tax (GST) implementation.

The Council may also discuss the integration of the GST e-way bill system with the NHAI's FASTag mechanism from April to help track movement of goods and check GST evasion, while also discuss preparedness for Aadhaar-based authentication of GST-registered taxpayers.

The planned lottery scheme under GST, which is proposed to be launched from April 1, will also be discussed in the meeting, officials said.

Also read: Firm gets GST notice to pay up 'Rs 5.9858630140000004'

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