Following six years of eager anticipation, the formation of the GST Appellate Tribunal is finally being realized. This heralds a new era in taxation, offering a more efficient and resilient resolution process for issues related to taxes.
Finance Minister Nirmala Sitharaman while replying to a question raise in the Lok Sabha that taxpayers have the option to withdraw their GST-related cases from High Courts and the Supreme Court, transferring them to the upcoming GST appellate tribunals for faster resolutions.
The Lok Sabha had approved the Provisional Collection of Taxes Bill, 2023 subsequently, aimed at curtailing speculative trading activities by enabling immediate enforcement of customs and excise duties hikes.Ms. Sitharaman also stated that each state will have two tribunal benches, one in the state capital and another in key commercial centers.
Acknowledging challenges encountered by taxpayers, including glitches and multiple tax rates, Finance Minister Ms. Sitharaman emphasized the GST Council’s ongoing efforts to streamline rates as part of a comprehensive exercise aimed at simplifying compliance.
The discussion on the presence of eight rate slabs took place during the parliamentary question discussions over Central Goods and Services Tax (Second Amendment) Bill, 2023 which aligns the eligibility and age norms for members and the President of the Appellate Tribunals with the Tribunal Reforms Act of 2021.
Ms. Sitharaman underscored the formation of a Group of Ministers within the GST Council, which has convened several meetings to tackle the issue. She recognized the transient challenges arising from shifts in political administration and personnel in particular positions. She assured a swift resolution to these disruptions.
Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates
