GST Council may mull steps to prevent fake generation of Input Tax Credit: Official

The Finance Ministry may consider imposing countervailing duty on steel imports from China

June 16, 2023

GST Council meet on July 11, likely to discuss steps to prevent fake generation of Input Tax Credit

Chairman of Central Board of Indirect Taxes and Customs (CBIC), Vivek Johri said that the GST Council in its meeting next month, is likely to discuss measures to ensure strict provisions for preventing fake generation of Input Tax Credit (ITC), aiming to prevent tax evasion.

The GST Council is scheduled to meet on July 11.

He further informed that the Finance Ministry may consider imposing countervailing duty on steel imports from China. Johri added that a recommendation for the same has been received by the Ministry and is under consideration.

Meanwhile the GST Council, headed by Nirmala Sitharaman, is also likely to consider the report of the Group of Ministers on online gaming, casinos and horse racing.

The report would be circulated to the states soon.

The ministerial panel had submitted its report to the GST Council in December last year, but the council is yet to take it up for consideration.

Johri was speaking to reporters on the sidelines of an event.

[With Inputs from IANS]

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