News & Media 20th May 2022
The Supreme Court judgment scrapping Integrated Goods & Services Tax (IGST) on ocean freight will bring lot of relief for importers, according to tax experts. They also maintain that the comment on GST Council’s recommendations has brought clarity. The apex court said recommendations of the GST Council are not binding on the Centre and States and these have mere persuasive value.
Against this backdrop, Kumar Visalaksh, Partner at Economic Laws Practice (ELP) has been quoted by BusinessLine in their article titled ‘SC rulings to bring relief to importers, clarity on GST Council’s role’. Kumar is of the opinion that the ruling reinforces the concept of co-operative federalism. He says “SC has clearly held that Article 246A of the Constitution (through which GST was introduced) recognizes the States as an equal partner with the Centre. The State is not sub-servient to the Centre or the GST Council. They are free to engage in co-operative as well competitive federalism.”
Read the comment and detailed article here: Click here
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