The government is planning a major overhaul in the Goods and Service Tax (GST) as the GST Law Review Committee “has identified around 180 issues”, reported DNA.
“The (GST law review) panel has identified about 180 issues and put forward its suggestions before the GST Council. The Council is looking into the suggestions and some of these are proposed to be discussed in the monsoon session (starting from July 18) of Parliament. The Law Drafting Committee is working on the draft,” a person aware of the development told the paper on condition of anonymity.
The committee has recommended several tweaks, including single registration for a taxpayer across India, change in the definition of ‘supply’ under Section 7 of the central GST (CGST) Act, and doing away with the precondition of matching returns with claims for availing input tax credit (ITC).