The 10th meeting of the GST Council (hereinafter referred to as ‘the Council’) was held on 18 February 2017 in Udaipur, which was chaired by the Hon’ble Union Finance Minister, Shri Arun Jaitley. The key highlights of the said meeting are as under:
- Prospects of GST becoming a reality from July 1, 2017, brightened further with the GST Council clearing the legally vetted draft of the GST Compensation Bill.
- However, there was no discussion came up for the Anti-profeeting during the meeting.
- The GST Council decided against giving additional powers to the Comptroller and Auditor General of India (CAG) under the Indirect tax act. Mr. Jaitley said that the CAG is already empowered under the CAG Act to call for any information from the government in relation to public finances. Under the taxation law, it need not be separately given. The income tax act has not given any separate powers to CAG.