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Critical decisions

GST Council is expected to improve business conditions

The panel was expected to submit a report by last month and suggest various steps to raise revenue, including hiking the lowest slab and rationalising the slab
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The panel was expected to submit a report by last month and suggest various steps to raise revenue, including hiking the lowest slab and rationalising the slab

Business Standard Editorial Comment Mumbai
After a long gap, the Goods and Services Tax (GST) Council chaired by Union Finance Minister Nirmala Sitharaman will meet this week to decide some important issues. One of the subjects the Council is expected to take up is decriminalisation of some offences. As reported by this newspaper, the Council is expected to increase the evasion threshold to Rs 2 crore from Rs 1 crore for arrests. As things stand today, tax evasion or incorrectly availing of the input tax credit of Rs 5 crore or above attracts a prison term of up to five years. Tax evasion amounting to

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