Two-day GST Council Meeting gets underway

Guwahati: The two-day GST Council meeting got underway here on Thursday to review the progress of the new tax regime three months after it was rolled out.

The meeting was a closed door event with the media disallowed to cover it today. A formal briefing will be made tomorrow after the conclusion of the meeting.

The 23rd meeting of the GST Council will be deliberating on the impact on the small scale industry, exemption to small traders and issues related to maximum retail price (MRP).

State Finance Minister Himanta Biswa Sarma had told reporters on Monday, after reviewing the preparations for the meeting that these were the issues that the meeting would take up.

"The meeting will be important as it will review the progress of the new tax regime three months after it was rolled out. It is a milestone meeting, Sarma had said.

The reports of the three committees currently working on GST are also likely to be taken up at the meeting that will review the progress and impact of the GST at the completion of the first quarter, he had informed.

The committees include rate fitment committee, GoM (group of ministers) headed by Sarma working on making the GST composition scheme more attractive besides the one working on the GST Network.

Today's meeting will be followed by the meeting of the full council headed by Union Finance Minister Arun Jaitley tomorrow.

Minister Sarma or other officials were, however, not reachable for their inputs on today's meeting.

Stating around 200 participants are expected to attend the meeting, he said confirmation was received from 24 states with their finance ministers, including the Chief Minister of Puducherry, participating in the meeting.