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7th GST Council Meeting held on 22nd & 23rd December, 2016 in New Delhi (Highlights)

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The seven meeting of GST Council was held on 22-23 December 2016. The draft model bills on State and centre GST legislation passed and dual control issue was discussed but remained inconclusive.

The eighth meeting was scheduled on 3-4 January 2017. States demanded to increase cess on more items to compensate for the revenue loss of 900 billion. Accordingly, GST council had decided that the cess would be levied on a list of items mentioned by GST council and at the end of five years of GST the cess would be added to GST rates to divide it between the Centre and the states..


In the ninth meeting held on 16th January 2017. The dual control issues had been resolved and the council decided that 90% of the assessees with turnover below or equal to 1.5 crores would be investigated by the state government and 10% by the central government. In case of assesses with the turnover of more than 1.5 Crore the Centre and the State would scrutinize in 50:50 ratio. Any IGST disputes would be in consideration of the Centre.

The tenth meeting took place on 18th February 2017. In which the compensation law was finally approved.


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Blog source : GST Council official .



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