NEW DELHI: The GST Council on Saturday clarified several pending issues, from the levy on sprinklers and poultry keeping machinery to railway SPVs and reinsurance. They related to interpretation of the law or regularisation on an “as is where is” basis. In all, there were seven such instances in the press release.
While the idea is to remove litigations and disputes, it also means that those who have paid the demand raised by authorities will not get a refund but those who have prolonged the disputes will breathe easy, said a tax expert.Tax professionals see it as part of recognition by authorities that the law was not aligned with business practices and is now being tweaked to avoid unnecessary disputes.
