13th GST Council Meeting – Highlights & Updates

The 13th GST Council meeting was held on 31st march, 2017 chaired by Finance minister Arun Jaitely in delhi. In the said meeting the council cleared rules on five categories. Below are the major highlights of the said meeting.

• The rules with amendments to be incorporated namely Registration of taxpayers, payment of tax, debit and credit notes, filing of returns, refunds and invoices in GST bills that Lok Sabha had passed during this week.

• The draft rules relating to composition scheme rule, valuation of supply of goods and services, transition process for migration to GST regime and input tax credit were tentatively approved.  

Source- gstcouncil.gov.in