GST Council's new return design envisages unidirectional invoice uploading, no credit reversal by buyer

GST Council in its 27th meeting, approves principles for filing of new return design based on recommendations of the Group of Ministers on IT simplification; Keeping in view the need to move towards a less cash economy, Council discusses in detail the proposal of a concession of 2% in GST rate (where GST rate is 3% or more) on B2C supplies, for which payment is made through cheque or digital mode subject to a ceiling of Rs. 100 per transaction, so as to incentivize promo...