Highlights of the meeting :
Digital Payments :
1. Incentives in the form cashback will be offered on the GST component of the bill for payments made digitally.
2. Digital modes will include payments through –
a. Rupay Debit card
b. BHIM UPI
c. UPI Aadhaar
d. USSD (Unstructured Supplementary Service Data)
3. A cashback of 20% on the GST component will be credited to the consumers, which will be limited to Rs. 100 only per transaction.
4. This will be a trial basis process by the GST council to check whether it increases the tax payment compliances or not.
5. It will not be a compulsory adoption by the states. The states will have to volunteer for these processes to be implemented.
MSMEs :
1. A group of ministers formed to study and address the issues related to MSMEs.
2. This group will work in alignment with the law and fitment committee to address the concerns of this sector on GST compliances and procedures related to GST return filings.