Finance Ministry seeks public comments on GST rules

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The Finance Ministry today placed 8 set of rules in public domain, which will be applicable once the Goods and Services Tax (GST) is implemented from July 1.

The government has sought comments from industry on the 4 set of new rules on — GST Composition, GST Valuation, GST Transition and GST ITC.

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These rules had received the “tentative” approval at the the GST Council meeting on March 31.

Further, the Central Board of Excise and Customs (CBEC) has come out with 4 set of revised rules on — GST Invoice, GST Payment, GST Refund and GST Registration.

These rules had secured final approval at the Council meeting last week.

However, the CBEC is yet to place the final rules on filing of GST return in public domain.

The Economic Times, 2 April 2017

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