GST council meet today, whats in pipeline?

GST council is going to meet today. Indian economy is facing a slow down. This meeting is expected to take some important policy decisions. These decisions may have long term impact on Indian economy. Some expected actions are:

• Cess on some supplies: Government may take a decision over the imposition of cess on some of the items. This action is to balance the revenue of states. A cess around 2% may be added. It will increase the tax rate from current levels. 
• A booster for real estate: A revival can be offered to real estate sector. Government is looking forward to add some traction to real estate and infra.Some clarification relating to long term lease may also be there.
• Tax rate on lotteries: Government may also decide on tax rate on lotteries. There is a huge gap in tax rate of state and centre run lotteries. A case pending over the issue having next hearing in January.  There may be a single rate for all type of lotteries.
• Single window refunds: Government want to monitor the refund to exporters. There can be a single window refund to all exporters. This will help in control over fraudulent refunds and will smoothen the process. 

I hope this write up was helpful for you. Allow updates to get instant updates. We will post the actual outcome of meeting once it is done on the same page.