The Council is likely to discuss a mechanism for single point sanctioning and processing GST refunds.
The GST Council will on Friday consider slashing GST rate on electric vehicles to 5 per cent, from 12 per cent currently, along with extension of the tenure of the anti-profiteering authority by a year till November 2020, an official said.
The 35th meeting of the GST Council and the first under Finance Minister Nirmala Sitharaman will also consider a couple of anti-evasion steps such as integration of e-way bill with NHAI’s FASTag from April 1, 2010, and asking businesses with a turnover of over Rs 50 crore to issue e-invoice for B2B (business-to-business) sales, as well as asking states to make e-ticketing mandatory for all movie halls.
The Council will also consider tweaking GST rate on lottery. An 8-member group of state finance ministers could not reach a consensus on whether a uniform tax rate should be imposed on lotteries or the current differential tax rate system be continued.
Currently, a state-organised lottery attracts 12 per cent GST, while a state-authorised lottery attracts 28 per cent tax.
Source: The Economic Times
