Eight meeting of GST Council (3rd & 4th January 2017): Key takeaways

Eight meeting of GST Council: Key takeaways

January 4, 2017
The GST council headed by Finance Minister, Arun Jaitley, met 8th time after its formation. The key takeaways from council meeting are given hereunder:

1.Issue of dual control

It is very unfortunate that even in the 8th round of meeting GST council did not reach to any consensus on issue of dual control. The Centre is not willing to accept demand of States for exclusive control over assesses having turnover below Rs 1.5 crore.


Officials from State Govt. were of the view that cess to be levied on more items in addition to demerit goods as the demonetization drive would reduce the tax collection in first year of GST implementation. The revenue loss from GST rollout post-demonetisation could be as much as Rs 90,000 crore,” said West Bengal Finance Minister Amit Mitra.

3. Industry representation

The GST Council has also received representation from officials and Ministers of various sectors like commerce and industry, banking and insurance, civil aviation, railways etc., to understand the impact of GST on products.


Unless administration issue is resolved it would be difficult for the Government to present the GST legislation (Central GST and Integrated GST) before the Parliament in the upcoming budget session. Thus, GST is not likely to be rolled out from April 1, 2017.

Published by Business So Simple

Hi, I am business consultant working with a team of Chartered Accountants, Company Secretaries, Lawyers & MBAs. I am promoter of " Make Your Business So Simple" "Make Education So Simple" Make Life So Simple" Make Legal Affairs So Simple".

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: