29th GST Council Meeting: Key Highlights and Decisions

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29th Meeting of GST Council has been conducted at New Delhi (dt. 4 August 2018) at a very short interval, specially to deliberate and discuss upon the issues relating to Simplification and Rationalization of GST Laws from the perspective of MSMEs and Small Taxpayers.
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157 issues were submitted before the Council. While addressing the media after the meeting, the Finance Minister Piyush Goyal said that several issues related to small businessmen and retailers were discussed in the meeting.
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Below are the Key Highlight of 29th GST Council Meeting:

• GST Council has approved the decision to give incentives on digital paymentsusing BHIM app. The Council approved 20% cashback for the GST paid, capped at Rs 100. via BHIM app, Rupay, Debit Card Etc.The GST Council has recommended to develop such software and any State willing to do so can implement the same on a pilot basis.
• The meeting of the GST Council was held today for the interest of traders in the country’s MSME sector.
• GST council has decided to form a sub-committee under the leadership of Shiv Pratap Shukla, Minister of State for Finance. This Commitee will do in depth study of the subject matter and thereafter will put suggestions before GST Council.
• In the end Finance Minister Piyush Goyal  has thanked Finance Ministers of All the States.

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