The 27th meeting of the GST Council has been completed. the council has referred the issue of giving 2 per cent incentive for digital payments of GST liability to a five-member committee for which payment is made through cheque or digital mode, subject to a ceiling of Rs. 100 per transaction, so as to incentivise promotion of digital payment.
The GST Council also recommended the issue of imposition of cess on sugar over and above 5% GST and also the reduction in GST rate on ethanol.
Keeping in view the record production of sugar in the current sugar season, and consequent depressed sugar prices and build-up of sugarcane arrears, the Council discussed the issue of imposition of sugar cess.
The balance 51% equity is with non-Government financial institutions. The company has been set up primarily to provide IT infrastructure and services to the Central and State Governments, tax payers and other stakeholders for implementation of the Goods and Services Tax (GST). The Authorised Capital of the company is Rupees ten crore only.