GST Council share via tweet date of 50th GST council meeting.
50th GST council meeting is going to be held on 11 July 2023 at Vigyan Bhawan, New Delhi
Major Expectation
According to PTI
Tighten Measures to curb Fake Registrations:
During the GST Drive related to fake GST Registration, Department founds huge of such cases and so the council will take some more measures to tighten measures on fake registration and fraudulent generation of input tax credit as it looks to check tax evasion.
Central Board of Indirect Taxes and Customs Chairman Vivek Johri said, “We are thinking of some other measures and we will take them through the due process of the law committee and GST council”.
The GST Council is taking strong measures to tackle the issue of fake GST registration and fraudulent generation of input tax credit, with the goal of combating tax evasion. The council is considering additional measures to tighten regulations, which will go through the due process of the law committee and GST council for implementation.
Online gaming, casinos, and horse racing:
In addition, the council will discuss a report on online gaming, casinos, and horse racing, prepared by a Group of Ministers (GoM). The report will be circulated to the states for further deliberation.
GST Appellate Tribunal
The establishment of GST Appellate Tribunals, a long-pending demand, will also be addressed. These tribunals are expected to streamline and expedite indirect tax litigations, providing a dedicated platform for resolving disputes, relieving the burden on taxpayers and courts.
Automations and Validation in GST Returns System:
The GST Council will also evaluate the proposal by the Central Board of Indirect Taxes and Customs (CBIC) to introduce additional validations in the GST return filing system. These validations aim to prevent evasion and fake input tax credit claims. Recent efforts have already detected significant fake ITC claims, resulting in arrests and penalties. By implementing stricter validations, the council intends to curb fraudulent practices and protect revenue.
Overall, the GST Council is committed to enhancing the effectiveness of the GST system by addressing issues related to fake registrations, fraudulent practices, and tax evasion. The introduction of new measures and validations will contribute to the integrity and efficiency of the GST regime.
In Addition to this Geocoding of Address is already implemented for existing registration as well to track the correct address on GST registered taxpayers in order to reach to Fake Registration taken on the basis of fake documents.
Also Changes are expected in GST Rates, Exemptions and Reverse Charge in order to implement changes proposed through Finance Bill 2023
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