MSMEs Issues To Be Resolved by GST Council-formed Committee

[vc_row][vc_column][vc_column_text]The Goods and Services Tax (GST) Council held its 29 th meeting in New Delhi last Saturday (4 August). Piyush Goyal, assuming charge as finance minister in place of the indisposed Arun Jaitley, chaired the meeting. He stated that the GST Council would form a committee to look into the issues that Micro, Small and Medium Enterprises (MSMEs) have been facing. Goyal added that the council has readied certain measures to resolve the issues of MSMEs. Piyush Goyal stated that it was a historic meeting of the GST, which witnessed meaningful discussion, with all the participants acknowledging the problems of the MSMEs, and the GST council has initiated steps to resolve them.
Goyal added that the GST Council has formed two committees and a subcommittee. The Law Committee for taking decisions related to taxation law and the Fitment Committee to take decisions related to taxation rates. A sub-committee that Minister of State of Finance Shiv Pratap Shukla heads, will involve itself with the taxation rates.
Deputy Chief Minister of Delhi Manish Sisodia, Deputy Chief Minister of Bihar Sushil Kumar Modi, Finance Minister of Assam Himanta Biswa Sarma, Finance Minister of Kerala Thomas Isaac, and Finance Minister of Punjab Manpreet Singh Badal.
The GST Council also announced that digital payments through RuPay car and BHIM App will be launched together, on a pilot basis.[/vc_column_text][/vc_column][/vc_row]