Get, Set & Go: New Direct Tax Code and GST Council Meeting ahead
Before Code of Conduct becomes operative prior to General Elections 2019 which is likely from 08.03.2019, there are two major announcements that will keep the tax professionals and taxpayers busy till the next Government.
This are –
1.Direct Tax Code on Public Domain.
Task force was asked to ensure the presentation of the new code before Feb-19. FM has also announced it in the parliament and also by way of press release . Earlier, the rumour were there that the task force will submit it’s report only after the new Government takes over on May 2019. However, present Govenment don’t want the fruits of its efforts to the successive team and is ensuring the new direct tax code in the public domain in the current Month only.
2. The last meeting of GST Council’s before code of conduct becomes operational i.e., 33rd Meeting his expected to provide much needed Relief for Real Estate Sector & also Duty relaxation for exporters /Duty drawback like scheme. There are numerous announcmemnts can be made in the 33rd Meeting as it is the last call of present Government to the taxpayers to Coney that “We care for you”.
February Month is likely to be a interesting time in the business landscape of the country. It is surely going to be a power pack month ahead.
Hold on the breadth and don’t forget to subscribe www.theTAXtalk.com to remain updated with timely tax news.