In the 50th meeting of the GST Council, a decision can be taken to make the regulations more stringent to control the fraudulent claims of input tax credit and fake registration. BQ Prime has received this information from a senior government official. However, the council is not expected to discuss the issue of reducing the Goods and Services Tax on cement. GST on cement is currently 28%, which is the highest rate slab. Some people have given this information on the condition of anonymity.
GoM again on rationalization of rates
The official said that in the coming meeting of the Council, the reconstitution of the Group of Ministers on rationalization of rates will also be considered. The convenor of this group was former Karnataka Chief Minister Basavaraj Bommai, who submitted the interim report last year. He further said that the council may also discuss the GoM report on online gaming, horse racing and casinos.
The second report of the GoM was submitted by its convenor and Meghalaya Chief Minister Conrad Sangma in December last year.
Online gaming can also be discussed
The GST Council did not discuss the matter in its March meeting. This issue is expected to be discussed in the meeting to be held on July 11 at Vigyan Bhawan. BQ Prime had earlier reported that members of the GoM on online gaming, horse racing and casinos have not been able to agree on a system to put it in place.
The GoM’s report will consider both the mechanism and rate of levying the GST rate and make recommendations to the council, which will vote on it.
Earlier, the Central Board of Indirect Taxes and Customs had started a special campaign to identify fake registration and fake ITC claims. CBIC Chairperson Vivek Johri said on Friday that 43,000 cases are being verified in the ongoing special campaign. Out of this, false GST claims have been found by 10,000 units.