In a significant development concerning tax policies, sources have told CNBC-TV18 that the Goods and Services Tax (GST) Council is unlikely to convene until a new government is sworn in. The delay in the meeting stems from the imposition of the model code of conduct, which restricts policy decisions once it comes into effect.
The GST Council, responsible for crucial tax-related deliberations, has faced constraints in meeting its mandated schedule due to various commitments. Notably, the council couldn't convene in January and February as dictated by rules, owing to the budgetary obligations of both the Union and State governments.
Of particular concern is the lapse in convening since the last meeting held on October 7, 2023. As per regulations, a meeting should have taken place in January 2024, highlighting the departure from the prescribed timeline.
During the October meeting, the GST Council had deferred discussions on online gaming to the subsequent gathering. Additionally, issues pertaining to the clarification of various classification matters were earmarked for resolution at the upcoming meeting, which now faces further delay.
With the forthcoming election season looming, the timeline for the next GST Council meeting remains uncertain, raising concerns over the timely resolution of crucial tax-related matters.
First Published: Mar 7, 2024 3:58 PM IST
