Punjab FM Harpal Cheema bats for changes in IGST Act

Chandigarh, July 12

Finance, Planning, Excise and Taxation Minister Harpal Cheema said Punjab’s case for amendment to Section 10 of the Integrated Goods and Services Tax (IGST) Act was vociferously argued while identifying the structural imperfection in the GST system during the 50th meeting of the GST Council held in New Delhi on Tuesday.

Disclosing this in a press communique issued here, Finance Minister Cheema said the approval to the proposal for the clear definition of place of supply in Business-to-Consumer transaction (B2C) over the counter supplies in accordance with the principle of destination-based consumption tax was successfully reasoned. He said this amendment had been expected to have a strong beneficial impact on the GST revenue of the state.

Taking up the cause of preventing evasion of tax in the scrap sector, Cheema said the state government proposed a broad-based consultative meeting comprising major stakeholders, including representatives of both trade and industry as well as that of tax administration so that suitable pro-active solutions can be envisaged for the said sector.