New Delhi, March 31: After passing the CGST bill and the related three other bills in the Lok Sabha, it has been decided that the GST Bill will be tabled in Rajya Sabha. Finance Minister Arun Jaitley addressing the media after the GST council meeting said that the council has approved the remaining rules of GST regime.
However, FM Jaitley said that if any changes are required on the basis of industry suggestion, once after incorporating the changes, if any, then today’s tentative approval will be taken to the next meeting for consideration and will be affirmed and become the final approval.
According to Jaitley, five sets of rules have been approved earlier namely, registration, return, payment, refund, invoice debit and credit notes. As per him, these are different sets of rules and all of these have been prepared prior to the formulation of the principle acts. As a result these rules had to be amended and altered. he however emphasised that these alterations and amendments were in parts to bring them in conformity with the provisions of the act.
Narrating the days work, he said the five rules’, registration, return, payment, refund, invoice debit and credit notes amended draft were circulated today in the council meeting and the final approval was granted on the ame