Gst Council Meeting

GST Council okays setting up tribunals, specific levy for pan masala firms

GST Council also decided to clear the entire dues of GST compensation pending to states

GST Council cuts tax on jaggery; rationalises late fee on delayed returns

GST Council on Saturday reduced the Goods and Service Tax on liquid jaggery, pencil sharpeners, and certain tracking devices, Union Finance Minister Nirmala Sitharaman said. Briefing media after the 49th meeting of the GST Council, the minister also informed that reports of the GoM (Group of Ministers) on checking tax evasion by pan masala and gutkha industry, and on Goods and Services Tax Appellate Tribunals (GSTATs), have been taken on board. She further said all the GST compensation dues will be cleared, including Rs 16,982 crore for the month of June. The finance minister further said the GST Council has decided to rationalise late fees on filing of annual GST returns after the due date. Finance ministers of states and UTs (with legislature) and senior officials of Union Government and states participated in the meeting.

GST Council likely to decide on common audit manual for Centre, states

GST Council may take up today expert panel's proposal to avoid multiplicity of audits by central, state authorities

49th GST Council meeting scheduled to be held in New Delhi on Feb 18

The GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, will meet on February 18. "The 49th meeting of the GST Council is scheduled to be held at New Delhi on February 18, 2023," the GST Council said in a tweet on Friday. The council may take up a discussion on the report of a group of ministers on taxation of 'pan masala' and 'gutka' firms and a report by a Group of Ministers (GoM) on setting up of appellate tribunals. The report by another GoM, chaired by Meghalaya Chief Minister Conrad Sangma, for GST levy on online gaming, casinos and horse racing may come up for deliberations. These three GoM reports were part of the agenda items in the last GST Council meeting, that was held on December 17, 2022.

TMS Ep328: GST Council meeting, vacation trends, IT performance, GM crops

What changed at last week's GST Council meeting? Are Indians more holiday-prone? Does Accenture's Q1 result spell more pain for IT firms? What are GM crops? All answers here

What changed at last week's GST Council meeting?

In its latest meeting, the GST Council approved the decriminalisation of certain offenses and clarified the tax provisions on a number of items. What were the key decisions taken at the meeting?

Centre, state govts to focus on efforts to widen GST base: FM Sitharaman

According to finance minister Nirmala Sitharaman, monthly GST revenue collection has been above Rs 1.4 trillion in the recent past

28% GST on online games when winning depends on certain outcome: CBIC chief

Central Board of Indirect Taxes chief Vivek Johri on Saturday said online games where winning is dependent on a certain outcome would attract 28 per cent GST on the full bet value. Though the report of the Group of Ministers (GoM) on online gaming did not come up for discussion at the GST Council, the department would go by the view that 28 per cent GST is payable on full bet value put in by a player, and not net of margins. The comments assume significance as the Gameskraft Technology Pvt Ltd (GTPL) GST evasion case is still in the court. Directorate General of GST Intelligence (DGGI) in September issued a show cause notice to Bengaluru-based online gaming company Gameskraft Technology Pvt Ltd (GTPL), for not Goods and Services Tax (GST) to the tune of Rs 21,000 crore. Asked what would be the position of the Central Board of Indirect Taxes (CBIC) since the Council has not decided yet on the GoM report, Johri said the department's view is that 28 per cent GST is payable on actionab

Auto industry body hails GST Council's clarification on definition of SUVs

Auto industry body Society of Indian Automobile Manufacturers on Saturday welcomed the GST Council's clarification on the definition of SUVs, saying it is on the lines of its discussions with the finance ministry. Briefing reporters after the 48th GST Council meeting, finance minister Nirmala Sitharaman said the higher rate of compensation cess of 22 per cent is applicable to a motor vehicle fulfilling all four conditions -- it is popularly known as SUV; has engine capacity exceeding 1,500cc; length exceeding 4,000 mm; has ground clearance of 170 mm and above. In response, SIAM in a statement said this has brought in a clarity that higher rate of compensation cess of 22 per, over and above of 28 per of GST, will be applicable only on such vehicles which meet all the four conditions. "SIAM is thankful to ministry of finance, government of India and the GST Council for issuing a clarification on the definition of SUVs," it added. This is on the lines of SIAM's recommendations and bas

GST Council defers GoMs reports on appellate tribunal, capacity-based tax

Clarifies compensation cess of 22 per cent on SUVs, said tax treatment of MUVs to be examined; nods to the decriminalisation of GST offences

FM Sitharaman likely to begin pre-Budget talks from third week of November

FM Nirmala Sitharaman and senior officials will hold eight meetings in all with all stakeholders

GST Council likely to meet in Dec, may take up report on e-game tax

The Council meeting was expected to be held in August in Madurai

Bumper GST collections could lead to compensation windfall for states

Extending compensation is a topic that has remained a sticking point in India's federal structure, with not only opposition states but also BJP-governed states speaking about it

GST collection jumps 28% YoY in July to second highest ever at Rs 1.49 trn

Collection remains above Rs 1.4 trn for fifth straight month

GST council meeting takes no decision on extending compensation to states

New rates for some items, removal of exemptions with effect from July 18

Amid inflation, GST Council withdraws exemption on host of household items

Pre-packed wheat flour, papad, paneer, curd and buttermilk will be taxed at 5 per cent after the GST Council decided to stop allowing exemptions on such items while raising rates on a host of others.

GST Council okays mandatory registration waiver for small online retailers

The waiver, which is subject to certain conditions, will benefit about 120,000 small traders

47th GST Council meet: Here's what became expensive after Tuesday meeting

The GST Council today is expected to take up extending compensation to the state

Sensex, Nifty end flat after volatile session; metal, energy stocks shine

CLOSING BELL: M&M, Tech M, Dr Reddy's Labs, Reliance Industries, HCL Tech, and Tata Steel were the top gainers on the 30-pack index

GST Council meet begins today: Here's what's on the agenda in Chandigarh

From revising some rates to deciding on the thorny issue of compensation extension for states, here is what the Council is likely to take up