The Punjab Govt has volunteered for a pilot project on business-to-consumer (B2C) e-invoicing to increase tax compliance.
The proposal came up during the 54th GST Council meeting held on 09.09.2024, state finance minister Harpal Singh Cheema said.
The Council also discussed the establishment of GST Appellate Tribunals, and Punjab is ready to set up the tribunal with the proposed location changed to Chandigarh and an additional bench in Jalandhar, Cheema said.
He said that the proposal to change the location of the principal bench and additional sitting bench had been accepted.
Meanwhile, Cheema said that he apprised the GST Council that the state’s effective taxation rate has significantly decreased since GST implementation.
Therefore, considering the low GST revenue, the council must look at ways to compensate states that are losing revenue due to the implementation of the same, he said.
He also advocated for exempting research grants from GST net, emphasizing education as a top priority for the Punjab govt.
Cheem informed the council that as tax rates under the GST regime are no longer under state control.
Source: The Times of India
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