(UNI) The GST Council of State Finance Ministers began on Saturday and may look into the issue of filing of returns and the refund processes for small and mid-size businesses and reach a consensus on taxation as Prime Minister Narendra Modi had announced that 99 per cent of 1,200 goods and services would be brought under 18 per cent slab or less.
Taking place as it is in the backdrop of the recent Assembly elections in Rajasthan, Madhya Pradesh and Chhattisgarh, the meeting is seen by analysts as a part of the government plan to boost consumption and increase demand in key sectors of economy ahead of the Lok Sabha polls.
“We are of the opinion of making GST as smooth as possible for the enterprises. In earlier days, the GST was framed according to the existing VAT or excise tax structures exercised in those respective States. (With) the discussions held from time to time, the tax system is getting improved,” Mr Modi had said on Tuesday.