Punjab strongly demanded amendment in Section 10 of the IGST Act

[ad_1]

IGST Act, Section 10: Punjab Finance, Planning, Excise and Taxation Minister Advocate Harpal Singh Cheema said that during the 50th meeting of the GST Council held in New Delhi on Tuesday, highlighting the structural flaws in the Goods and Services Tax (GST), the Integrated Goods and Services Tax (IGST) A strong argument was presented by Punjab regarding the amendment of Section 10 of the Act.

Punjab Finance Minister Harpal Singh Cheema said that as per the principle of destination based consumption tax arguments were successfully presented to approve the proposal of clear definition of place of supply instead of counter supply in business to consumer transaction (B2C). He said that the GST revenue of the state is expected to benefit greatly with this amendment.

While raising the issue of curbing tax evasion in the scrap sector, Cheema said that the state government has proposed a consultative meeting with key stakeholders including representatives of trade and industry as well as tax administration to address this problem in the said sector. Suitable solutions can be found for Speaking on the issue of taxing online gaming, he said the meeting highlighted its impact on the youth of the country and the impact on the social fabric of the country due to the uncontrolled growth of this sector. .

Finance, Planning, Excise and Taxation Minister Advocate @HarpalCheemaMLA said that Punjab’s case for amendment of section 10 of the IGST Act was vociferously argued while identifying the structural imperfection in the GST system during the 50th meeting of the GST Council. pic.twitter.com/RVBbfGQyVb

— Government of Punjab (@PunjabGovtIndia) July 12, 2023

He said that the state government has strongly supported the proposal to levy 28 per cent tax on online gaming and the tax will be paid on face value rather than gross gaming revenue. The Finance Minister further said that during the meeting of the GST Council, while discussing the proposal to reduce the existing exemption given to the services provided to the government and local governments, the state strongly argued that such a reduction The ability of the state government as well as local governments including panchayats and municipalities to provide basic services to the people will be adversely affected, so the said agenda needs further introspection and no decision should be taken hastily. should He said that keeping in mind the said argument, this agenda was postponed by the GST Council.

note: You can download our app to read breaking news in Punjabi. You can also follow Pro Punjab TV on social media platforms Facebook, Twitter and Instagram.

TV, FACEBOOK, YOUTUBE from First every the news to read for Download do PRO PUNJAB TV APP