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regular-article-logo Friday, 22 November 2024

Scanner on tax evasion: GST Council to discuss measures against input tax credit fraud

Further, the Council will also decide on a convenor for the group of ministers (GoM) on rate rationalisation

Our Bureau New Delhi Published 17.06.23, 05:00 AM
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Representational image File picture

The next meeting of the GST Council on July 11 will discuss some more measures to stop fake registration and fraudulent generation of input tax credit (ITC) as it looks to check tax evasion.

“We are thinking of some other measures and we will take them through the due process of the law committee and GST Council,” the Central Board of Indirect Taxes and Customs chairman Vivek Johri told reporters. The 50th meeting of the GST Council is scheduled on July 11.

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The Council will also discuss the GoM report on online gaming, casinos and horse racing and will circulate it to the states soon. The GoM submitted its report to the Council in December last year, but the Council has not taken it up for discussion.

Further, the Council will also decide on a convenor for the group of ministers (GoM) on rate rationalisation. Former Karnataka chief minister Basavaraj Bommai was the convenor of the panel and now with the change of the government in Karnataka, the council has to select a new convenor.

Charanya Lakshmikumaran, partner, Lakshmikumaran, and Sridharan Attorneys, said: “The Council is likely to consider various important issues which the industry is looking forward to for resolution.

“To start with, I believe they will study the amendments to the GST Laws pertaining to the constitution of GST Appellate Tribunal. It is believed that they will also start discussion on Rules for the GST Appellate Tribunal. Apart from this, the Council may also consider the issue of taxation of online gaming, which is pending before the Council for a while and where we have seen some recent judicial development.

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