In-Principle approval given for Law Amendments during 31stMeeting of the GST Council

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..... In-Principle approval given for Law Amendments during 31stMeeting of the GST Council
GST
Dated:- 22-12-2018

The GST Council in its 31st meeting held today at New Delhi gave in principle .....

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..... approval to the following amendments in the GST Acts: * Creation of a Centralised Appellate Authority for Advance Ruling (AAAR) to deal withcases of conflicting decisions by two or more State Appell .....

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..... ate Advance Ruling Authorities on the same issue. * Amendment of section 50 of the CGST Act to provide that interest should be charged only on the net tax liability of the taxpayer, after taking int .....

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..... o account the admissible input tax credit, i.e. interest would be leviable only on the amount payable through the electronic cash ledger. The above recommendations of the Council will be made effecti .....

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..... ve only after the necessary amendments in the GST Acts are carried out.
News - Press release - PIB .....

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