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On the 10th of March, 2018, the GST Council under the leadership of Finance Minister Mr. Arun Jaitley, met for the 26th time to discuss various policies and strategies in a bid to simplify GST. While some constructive decisions were taken, especially in the light of exports and the e-way bill, the major expectations with regards to a simplified return filing system were not met in this meeting as well. Let’s go through the major 26th GST Council meeting updates:
To summarize the 26th GST Council meeting updates, it can be said that the government’s key area of focus is simplifying the return filing process, even if it means deferring other aspects of GST for the time being – such as TDS, TCS, RCM, exempted goods etc. While it is encouraging to note that the GST Council has decided to dedicate more time and effort in order to finalize, test and announce the simplified returns filing process, an implementation which is sooner than later, will be beneficial in order to prevent tax evasions.
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