To address the issues, challenges and concerns of the Micro, Small and Medium Enterprises (MSME), the apex decision making body of GST Council on Saturday in its 29th meeting has decided to create a sub-committee headed by MoS Finance Shiv Pratap Shukla to look into various issues and submit a report.
“The issues related to law would be taken up by the law committee and issues related to rates would be taken up by the fitment committee. They would deliberate and submit their recommendation to the sub-committee headed by MoS Finance Shiv Pratap Shukla,” said Piyush Goyal, Minister of Finance, Railways, Coal and Corporate Affairs.
The committee will consist of Manish Sisodia, Sushil Modi, Himanta Biswa Sarma, Thomas Isaac and Manpreet Badal. The issues discussed today would be taken up in detail and presented before the full GST Council at a later date. However, there is no clarity yet on what issues are likely to be taken up by the sub-committee.
The GST Council has also decided to run a pilot to provide cashback for digital transactions carried out through, “To promote digital transaction, increase compliance and collection in taxes, RuPay Debit and UPI-based transaction will get cashback of 20% for the GST paid, capped at Rs 100. The Council has decided to create software for this and any state willing can implement on a pilot basis,” said Goyal.