Punjab vociferously argued for amendment of Section 10 of IGST Act: Minister

Published on: 13 Jul 2023 at 11:00 AM

Published by: thefactnews

The Fact News Service

Chandigarh, July 13

Punjab Finance, Planning, Excise and Taxation Minister Advocate Harpal Singh Cheema on Wednesday said that Punjab’s case for amendment of section 10 of the Integrated Goods and Services Tax (IGST) Act was vociferously argued while identifying the structural imperfection in the Goods and Services Tax (GST) system during the 50th meeting of the GST Council held in New Delhi this Tuesday.

Disclosing this in a press communique issued here, Finance Minister Harpal Singh Cheema said that the approval of the proposal for the clear definition of place of supply in Business to Consumer transaction (B2C) over the counter supplies in accordance with the principle of destination-based consumption tax was successfully reasoned.

He said that this amendment has been expected to have a strong beneficial impact on the GST revenue of the State.

Taking up the cause of preventing evasion of tax in the scrap sector, Cheema said that the state government proposed a broad-based consultative meeting comprising major stakeholders including representatives of both trade and industry as well as that of tax administration so that suitable pro-active solutions can be envisaged for the said sector.