GST: Infosys, foreign airlines, shipping lines may see relief as concerns rise for ‘ease of doing business’, says report
The Centre may provide relief to corporates, including Infosys, foreign airlines, and shipping lines, amid concerns over ease of doing business. The GST Council is set to meet on September 9.
The Centre is likely to give some GST relief to corporates, including IT major Infosys, foreign airlines and foreign shipping lines, amid growing concerns over ease of doing business, CNBC-TV18 reported, citing sources.
Livemint could not independently verify the report.
It added that some of the provisions introduced in the June circular would likely be "revisited and potentially eased" during the September meeting of the Goods and Services Tax (GST) Council.
The Finance Ministry's Department of Revenue is working on changes to improve clarity and reduce compliance burdens amid growing concerns over ease of doing business, especially in the service sector, it added.
It added that the Directorate General of GST Intelligence's (DGGI) spree of notices to Infosys, foreign airlines, and shipping lines is also in focus. Relief measures would likely put a halt to these notices.
Group of Ministers meets before GST Council meeting
Ahead of the GST Council meeting on September 9, the Group of Ministers (GoM) on GST rate rationalisation will meet today, officials told PTI.
“The GoM will meet today to take stock of the progress and the future course of action,” an official told the agency.
This is the GoM's first meeting comprising ministers of seven states with Bihar Deputy Chief Minister Samrat Chaudhary as the convenor.
The other members of the panel are West Bengal Finance Minister Chandrima Bhattacharya, Karnataka Revenue Minister Krishna Byre Gowda, Kerala Finance Minister K N Balagopal, Uttar Pradesh Finance Minister Suresh Kumar Khanna, Goa Transport Minister Mauvin Godinho, Rajasthan Medical, and Health Services Minister Gajendra Singh.
In its previous meeting in June, the GST Council had directed the GoM to work on a broad overview of the GST rate rationalisation, including status of the work, aspects covered by the panel so far, and pending work.
The 54th GST Council meeting is scheduled for September 9 and will discuss the way forward on rate rationalisation.
Currently, the GST regime has five broad tax slabs of zero, 5, 12, 18, and 28 per cent. A cess is levied over and above the highest 28 per cent rate on luxury and demerit goods.
(With inputs from PTI)
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First Published:22 Aug 2024, 02:54 PM IST
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