Announcement Date: September 30, 2016
The GST Council finalized five subordinate legislations relating to payment, returns, refunds, invoice and registration. It also reached at a consensus on area-based exemption in accordance with those granted under the current excise regime. The Council decided that under GST, taxes will have to be collected and it can be reimbursed from the annual budgets to the exempted categories. However, the Council faced differences over approving the minutes of the last meeting as certain States disagreed with the decision of Centre assessing the existing service tax assessees in the new regime. This discussion remained inconclusive. Next meeting will be held on 18th October.