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27th GST Council meet
May 10 , 2018
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- The Goods and Services Tax (GST) Council's 27th meeting, chaired by Union Finance Minister Arun Jaitley via video conferencing, was held in the Prime Minister's Office (PMO).
- The Goods and Services Tax (GST) Council has
- Approved a proposal to convert GST Network, the IT backbone of GST, into a government-owned entity, unveiled a new, simplified return filing process.
- Deferred a decision on imposing cess on sugar following opposition from states.
- The GST Network currently is
- 5 % owned by the Central government,
- 5 %held by state governments collectively,
- The remaining 51 %is with HDFC Ltd, HDFC Bank Ltd, ICICI Bank Ltd, NSE Strategic Investment Co and LIC Housing Finance Ltd.
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