11th GST Council Meeting held on 4th March, 2017 in New Delhi

Moving one step closer to implementation of a new indirect tax regime, the abstract of the 11th GST Council Meeting is as below:
1: A single Registration has to be taken State-wise for filing the desired returns, paying taxes and to meet the complaince requirements.
2: There shall be no physical interface between the Tax Official and the Tax Payer as utmost all the necessary complaince requirements would be fulfilled online.
3: If the annual turnover of a business entity is upto 20 lakhs, then such entities are not required to take registration in the GST Regime. Still if they want to be the part of the Input Credit Tax (ITC) chain, voluntarily, it can be done.
4: The extent of supply of produce out of cultivation of land from an agriculturist, shall not be liable to take registration under the GST Regime.
5: Several comprehensive provisions have been put into motion for the Appellate Mechanism.
6: Except a few items listed in the Law, Input Tax Credit (ITC) will be admissible on all goods and services used in the course or furtherance of business to prevent the cascading of taxes.
7: For systematized usage of Input Tax Credit (ITC) for payment of taxes under the Centre and the State Law, the Council has come to an approval that the ITC entitled arising out of taxes paid under the CGST can be Cross-Utilised for payment of taxes under the Laws of SGST and UTGST..
8: Finance Minister Arun Jaitely Said, Hopefully, the laws will be before parliament in this session and subject to parliament approving them, July 1 this year now optimitically looks like possible date for implementation.
9: In order to make sure a systematized transfer of unutilised Input Tax Credit (ITC) and migration of the taxpayers under the GST Regime, comprehensive transitional provisions are catered.