GST Council meet today to consider simplified tax returns

The 27th meeting of the GST Council will take place today to consider the introduction of simplified tax return form, incentives for digital payments and a proposal to convert GST Network into a government company.

The council chaired by Union Finance Minister and comprising state finance ministers, will interact through video conferencing.

The meeting comes at a time when Goods and Services Tax (GST) collections achieved its record high by exceeding one lakh crore rupees milestone in April.

Sources said, Sushil Modi-led Group of Ministers (GoM) will put the three models of new simplified return form for discussions before the



council. 

The Council will also consider converting GSTN into a government-owned company with the equal holding of states and the Centre. 

Currently, five private financial institutions hold 51 per cent stake in GSTN, which was incorporated on March 28, 2013 during the UPA government. The remaining 49 per cent stake is with the Centre and states.

Mr Jaitley had, earlier this month, asked Finance Secretary Hasmukh Adhia to “examine the possibility” of converting GSTN into a majority government company or a 100 per cent government company.