GST Council to meet today to clear crucial Bills

Small companies want input credit be de-linked from tax payment

People dealing with small companies have made a pitch for changes in the goods and services tax (GST) legislation to avoid cash-flow problems for this sector even as the GST Council takes up crucial Bills at a two-day meeting beginning Saturday.

The meeting will try to iron out the irritants so that the Bills can be tabled in the Budget session of Parliament after the recess and assemblies. 

However, tax experts say the proposed provisions are fair. 

Bharat Goenka, managing director of Tally Solutions, says the model GST Bill should change the definition of valid return, which is necessary for companies getting input