In-Principle approval given for Law Amendments during 31stMeeting of the GST Council

The GST Council in its 31 meeting held today at New Delhi gave in principle
approval to the following amendments in the GST Acts:

1. Creation of a Centralised Appellate Authority for Advance Ruling (AAAR) to deal
withcases of conflicting decisions by two or more State Appellate Advance Ruling
Authorities on the same issue.
2. Amendment of section 50 of the CGST Act to provide that interest should be charged
only on the net tax liability of the taxpayer, after taking into account the admissible
input tax credit, i.e. interest would be leviable only on the amount payable through the
electronic cash ledger.
The above recommendations of the Council will be made effective only after the necessary
amendments in the GST Acts are carried out.
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