GST Council’s Latest Meeting Insights The GST Council convened for its 53rd meeting, bringing forth a slew of decisions to ease compliance burdens and refine the GST framework. Among the highlights were discussions on rate rationalizations and measures to curb tax evasion. The council’s decisio...
The GST Council recently held its 55th meeting in Jaisalmer, Rajasthan. It was chaired by Union Finance Minister Nirmala Sitharaman. The GST Council announced several important GST Updates. These updates are aiming at simplifying compliance, reducing tax burdens, and streamlining GST-related processes....
As per the recent decision by the GST Council, all utility vehicles meeting the specified criteria will attract a compensation cess of 22 per cent over and above 28 per cent GST. The criteria are- if the engine capacity is more than 1500cc, the vehicle’s length exceeds 4,000mm, and gr...
The CBIC has released new circulars clarifying the GST classification of rates and the basis for recommendations by the GST Council meeting. The circular numbers are 234, 235, and 236. View More The GSTN (Goods and Services Tax Network) will soon allow metal scrap dealers to register for TDS...
The 31st GST Council Meeting was held on 22 December 2018. Following recommendations and rate cuts were agreed upon in the meeting: A. Policy Recommendations The GST Council in its 31st meeting held at New Delhi made the following policy recommendations There would be a single cash ledger for ...
Decisions taken by the GST Council in the 17th meeting 18 June 2017 I Decisions with respect to GST rates for Services 1 It has been decided in respect of the s
The 38thmeeting of the GST Council met under the Chairmanship of the Union Minister for Finance Corporate Affairs Smt Nirmala Sitharaman here today The meeting
keeping in mind special rates and provisions for some states. The predominant responsibility of the GST Council is to ensure to have one uniform tax rate for goods and services across the nation. In this section, we give you a wholesome view of all the latest GST council meeting updates, ...
Moreover, the GST council has already brought into effect GST rate cuts on several commodities in the 28th GST council meeting. #3. What decision has been taken regarding GST on petrol & diesel? The matter of inclusion of petrol & diesel under the GST ambit is still on ...
the oxygen concentrator GST rates were reduced from 12 per cent to five per cent. While in the latest meeting held in September, the GST Council extended the reduced rates for the Covid-19 related medicines and added new medicines into the concession list, it did not mention the rates of ...