29th GST Council Meeting held on 04th August 2018 in New Delhi.

  • The GST council has decided to offer 20 percent cashback of GST paid on the transactions based on business to consumer (B2C) done by the means of BHIM, RuPay, Aadhar, UPI and USSD.
  • The government will develop the software with the help of NPCI to process the cashback. However, the council has also made a cap of INR 100 on the cashback amount.
  • The council also approved a 6 member ministerial panel head by State of minister for finance Shiv Pratap Shukla to look through the matter of MSME sector.
  • No decisions were taken on the rate cut or rate rationalization still. Also, there was no discussion on the GST return filing form simplification either.

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