At the31st GST council meetingheld on 22 December 2018, aGST exemptionwas granted for the supply of gold by a notified agency to registered jewellery exporters. This exemption aims to reduce theGST ratesburden on gold jewellery exporters and enhance the competitiveness of India’s gold export sect...
GST Council is an apex member committee to modify, reconcile or to procure any law or regulation based on the context of goods and services tax in India. The council is headed by the union finance minister Nirmala Sitharaman assisted with the finance minister of all the states of India. The...
GST (Goods and Services Tax) is charged by the government in slabs. The present slabs are 5%, 12%, 18%, and 28%. GST is managed by the Goods and Services Tax Council and is governed by the Goods and Services Tax Act, of 2017. GST is levied on all types of goods and services ...
In the realm of GST, the preceding month was notably eventful. There were several new GST Notifications that have also been released. You can read all the updates here: Top GST News of the Month. Also, the 54th GST Council Meeting was held in September and the FM announced some key GST...
Goods and Services Tax (GST) is a projected system of indirect taxation in India merging most of the existing taxes into single system of taxation. It was presented as the Indian Constitution (One Hundred and First Amendment) Act 2016. The GST is managed & governed by GST Council and its ...
GST council meet decision as on 06th October, 2017 Minimized GST rate on Biomass briquettes Reduced GST rate on Parts of power driven pumps designed for water handling Reduced GST rate on Parts suitable for Speed Diesel Engines of power not exceeding 15HP ...
The Bombay High Court has cancelled the government’s decision to classify hand sanitisers as disinfectants, which would have resulted in an 18% GST on them. 54th GST Council Meeting – A GST rate from 12% to 5% reduced on cancer drugs like Trastuzumab Deruxtecan, Osimertinib, and Durvalumab...
• Opening page of Bank statement held in the name of Business or Proprietor. Who decides the rates of GST? The CGST and SGST would be levied at rates to be jointly decided by the Centre and States. The rates would be notified of the recommendations of the GST Council. ...
December 2024 saw a flurry of GST news and updates in India, highlighted by the 55th GST Council Meeting. Key announcements included new measures to enhance the accuracy of GST returns, updates on the E-way bill and E-invoice System, and clarifications on recent amendments in GST laws. As ...
As of January 2025, individual users conducting UPI transactions are not directly subjected to GST. In its 54th meeting held on 9th September 2024, the GST Council deliberated on imposing an 18% GST on payment aggregators for transactions below ₹2,000. However, no definitive decision was rea...