At today's meeting, "central and state finance ministers will consider clarifying on provisions relating to e-invoicing requirement of businesses, treatment of statutory dues under GST law in the case of bankrupt businesses in tribunals, a tax credit for corporate social security related spending and no-claim bonus offered by insurance companies".

The changes aim to rationalize legal provisions in the light of experience and jurisprudence evolved so far.

In addition to this, the GST Council might decide on other issues as well such as the decriminalisation of offences under the GST law, and setting up appellate tribunals and mechanisms to curb tax evasion in pan masala and gutkha businesses.

The Council may also deliberate on online gaming and casinos. Concerning taxation of online gaming, casinos, and horse racing, the Group of Ministers (GoM), in its last meeting in November, had agreed on a 28% GST on these segments.

However, in absence of consensus on whether the tax should be levied on only the fees charged by the portal or the entire consideration, including the bet amount, received from participants, the GoM had decided to refer all suggestions to the GST Council for a final decision.

Currently, online gaming attracts 18% GST. The tax is levied on gross gaming revenue, which is the fees charged by online gaming portals.

With regard to decriminalisation of offences, the law committee of the GST Council, comprising tax officers from the Centre and states, has suggested to the Council to increase the monetary threshold for launching prosecution for GST offences.

The law committee has also suggested that the fee payable by the taxpayer for compounding of GST offences be lowered to 25% of the tax amount, from up to 150% currently, to improve the ease of doing business.

It has suggested raising the threshold of launching prosecution to ₹20 crore, from ₹5 crore at present. Launching of prosecution by taxmen means the commencement of legal proceedings against the offender.