29th GST council meeting 04.08.2018

Highlights of Key Recommendations/ Decisions

1) 20% of GST as Cash Back on Digital Transactions:
GST Council has recommended cash back of 20% of GST paid via Bhima App, RuPay Debit and UPI-based transaction, capped at Rs 100.
This is to promote digital transaction, increase compliance and collection in taxes, The GST Council has recommended to develop such software and any State willing to do so can implement the same on a pilot basis.

2) Sub-committee/ Panel for MSME Issues:
GST Council has decided to constitute a new Panel/ Sub-Committee to review the concerns of stakeholders on various law related and GST rates related issues, including issues relating to refunds, followed with submission of a report thereon.
This is to address the issues of MSMEs and Small Taxpayers.