GST Council 27th meet: Digital payments — Concessional rate on retail transactions on the cards

A concessional rate of the goods and services tax (GST) could be levied for retail (B2C) transactions if consumers opt to pay digitally, subject to approval of the proposal by the GST Council. The GST Council in its 27th meeting on May 4 is expected to discuss a proposal wherein a 2 per cent concession, subject to a ceiling of Rs 100 per transaction, may be offered to consumers in B2C transactions…