Tax Experts react to 17th GST Council announcements on June 18

The GST Council hit the final nail in the coffin yesterday, leaving no scope for deferment of GST rollout beyond July 1.

What is touted as a big relief for the tax-payers, the Council also provided relaxation in filing of GST return for the first two months of implementation, while introducing a simple Form GSTR-3B. Further, it approved 5 out of 6 Rules, viz. Anti-profiteering, Advance Ruling, Appeals & Revision, Assessment and Fund Settlement, with further deliberations on E-Way Bill to take place in the run up to July 1.