It is informed that the 31st meeting of the GST Council is scheduled on 22nd December 2018 in New Delhi.
As the Lok Sabha election and budget is coming closer, The Council, on 22nd may discuss some consumer-friendly decisions such as rate reduction and such other reliefs. However, the present revenue collection figures is a barrier to take a bold decision from the Government side.
The main agenda of the meeting is currently under discussion, the council might take up the matter of reduced rates on the third-party insurance premium.
Currently, the third-party insurance premium is in 18 percent tax bracket.
Central board of indirect taxes and customs is also likely to put forward for council’s consideration to make the process of refunds completely online.
The council shall also take a status update on the pending reports of two sub-committees on sugar and disaster cess.
