Explorer

GST council forms committee to resolve MSMEs issues

New Delhi [India], Aug 4 (ANI): Finance Minister Piyush Goyal, who on Saturday chaired the 29th Goods and Services Tax (GST) council meeting, announced that a committee has been set up to look after the issues of Micro, Small and Medium Enterprises (MSMEs)

Addressing the media following the meeting, Goyal said that the council has chalked out certain measures to ease the issues of MSMEs.

"Today we held a historic meeting of the GST Council. It was a meaningful discussion. One of the key issues that were resolved was that in last 13 days in all GST Council meetings the sympathy given to the MSME sector was appreciated by all. We have taken measures to ease the issues faced by MSMEs," Goyal said.

"We have decided that from now onwards the Law Committee will take decisions related to taxation law and the Fitment Committee will take decisions related to taxation rates. For the same, we have made a sub-committee, which will be headed by Minister of State (MoS) for Finance, Shiv Pratap Shukla," he added.

The committee will also consist of Deputy Chief Minister of Delhi Manish Sisodia, Deputy Chief Minister of Bihar Sushil Kumar Modi, Assam finance minister Himanta Biswa Sarma, Kerala finance minister Thomas Isaac and Punjab finance minister Manpreet Singh Badal.

The council also announced that the GST incentives for digital payments via RuPay card and BHIM app will be rolled out on a pilot basis. Goyal also said that 20 percent cashback will also be available on digital payments through the BHIM app

"To promote digital transaction, increase compliance and collection in taxes, RuPay Debit and UPI-based transaction will get cashback of 20 percent for the GST paid, capped at Rs 100. The GST Council has decided to create software for this and any state willing can implement on a pilot basis," Goyal said. (ANI)


This story has not been edited. It has been published as provided by ANI

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

'India-Guyana Ties Made Of Soil, Sweat': PM Modi At Guyanese Parliament, Says 'Democracy First, Humanity First'
'India-Guyana Ties Made Of Soil, Sweat': PM Modi At Guyanese Parliament, Says 'Democracy First, Humanity First'
Maharashtra: Two Latest Exit Polls Show Landslide Victory For Mahayuti, BJP To Emerge As Largest Party
Maharashtra: Two Latest Exit Polls Show Landslide Victory For Mahayuti, BJP As Largest Party
Pakistan: Over 50 Killed, 20 Injured As Militants Open Fire On Passenger Vehicles In Khyber Pakhtunkhwa
Pakistan: Over 50 Killed, 20 Injured As Militants Open Fire On Passenger Vehicles In Khyber Pakhtunkhwa
International Criminal Court Issues Arrest Warrants Against Israeli PM Netanyahu, Ex-Minister Gallant
Arrest Warrants Issued Against Israeli PM Benjamin Netanyahu, Ex-Minister Gallant
Advertisement
ABP Premium

Videos

India Emerges as G20's Growth Leader, Check Out the Latest GDP Rankings | ABP NewsAirtel-Nokia Partnership: Nokia’s Spectacular Comeback, Shakes Up the Telecom Sector | ABP NewsAdani Group in Turmoil: Bribery Scandal Rocks Shares, Plunge by 20% | ABP NewsPLI Scheme: Transforming India's Manufacturing Sector into a Global Powerhouse

Photo Gallery

Embed widget