GST Council likely to finalise draft model GST law on Saturday

The Goods and Services Tax (GST) Council is meeting in Udaipur on Saturday where the model GST law draft is expected to be finalised according to media reports.

The Council, headed by Finance Minister Arun Jaitley and comprising representatives of all states, is also expected to finalise the definition of ‘agriculture’ and ‘agriculturist’ as well as constitution of a ‘National Goods and Services Tax Appellate Tribunal’ to adjudicate disputes, media reported.

The final draft of the anti-profiteering clause to ensure benefit of lower taxes gets shared with consumers is also expected to be prepared.