GST Council · 2016-12-22 · New Delhi

7th GST Council meeting: key decisions

Meeting on 22 and 23 December 2016, the Council completed its review of the model GST law and approved it subject to the decisions taken. It also approved the draft compensation law, confirming the 14 per cent assured growth rate and providing for compensation to be released every two months. Dual control was carried forward to the next meeting.

Chaired by Arun Jaitley, Union Finance Minister.

Law and procedure

  • Approved the draft model GST law, subject to the changes agreed during the meeting.
  • Approved the draft GST compensation law, subject to the decisions recorded.

Other

  • Confirmed that compensation would be based on an assured 14 per cent growth rate and on revenue actually earned by States.
  • Decided that compensation to States would be paid on a bi-monthly basis.

Official documents

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