On 10th January, the first council meeting of this year was held at New Delhi under the chairmanship of Union Minister of Finance & Corporate AffairsMr. Arun Jaitley.
Yesterday on 18th January 2018 25th GST council meet held at Vigyan Bhavan chaired by finance minister Arun Jaitley. This meeting conducted to discuss some major issues of GST. Here are the outcomes of this meeting:
What is GST Compliance Rating?
GST Compliance rating is one the most needed initiative taken by Government under GST. Compliance rating is a score card for tax payers under GST. It will provoke tax payers to comply with GST rules and regulations in order to be on good rating scale. It can be termed as a performance indicator for business owners, tax payers etc.
How GST compliance rating works?
As it’s a performance rating businesses so rating would be based on some parameters. The basic parameters would be: