GST RO(W)AD AHEAD | Episode 4 | simply inTAXicating The GST Council last week held its historic FIRST meeting and surprised all political pundits by evolving consensus on many critical components of the proposed GST regime. There were five agenda points, and decisions were taken on all of them. The exemption threshold of Rs 20 lakh was finalised. The Composition Scheme which is popularly known as the Compounding Scheme, was approved after excluding service providers and manufacturers out of it. Dual control and cross empowerment issues were also decided. The most contentious issue of compensation to States in case of revenue loss was also partly decided. To discuss the merit and demerit of some of the decisions and also the impact of GST on India’s emerging e-Commerce Sector TIOL TUBE invited three domain experts - Mr Pratik Jain, National Leader, Indirect Taxes, PwC, Mr Sumit Dutt Majumder, former CBEC Chairman and Mr Ashish Chandra, Taxation Head, Snapdeal.com. The show was moderated by TIOL Founder Editor, Mr Shailendra Kumar.