Pre-cum-Mains GS Foundation Program for UPSC 2026 | Starting from 5th Dec. 2024 Click Here for more information
GST Council approves single form for filing of returns
What has happened?
The Goods and Services Tax Council on Friday decided to convert the GST Network into a 100% government enterprise, and implement a single form for GST filing from the current three.
Background
27th meeting of GST Council
Cess on sugar
- The Council also decided to create a Group of Ministers to review the plan for imposition of a cess on sugar
- The cess was meant to subsidise sugarcane farmers as their production cost is much higher than the selling price.
Returns filing reconciled
The Council has also decided to create another GoM to consider implementation of a 2% incentive for digital transactions
Single form
The Council approved a single, monthly return form that would become applicable in six months. The current system of filing the GSTR-1 and GSTR-3B forms would continue till then
Discover more from Free UPSC IAS Preparation For Aspirants
Subscribe to get the latest posts sent to your email.
