GST Council meeting today: Here are the five key expectations
9 months ago

GST Council meeting today: Here are the five key expectations

Live Mint  

New Delhi: Goods and Services Tax Council is meeting in the capital after over eight months to discuss indirect tax matters, including further strengthening the tax ecosystem to make it foolproof. Law change on scope of GST The Council is expected to clear the text of legislative amendments to Central, State and Integrated GST laws to exclude extra-neutral alcohol, the main ingredient of liquor, from the scope of GST so that this remains within the regime of state-level excise duty and Value Added Tax. Duty relief Central and state finance ministers are expected to add a new provision to GST laws to enable tax officials to close the books on certain cases without further demand, recovery or refund on an “as is basis.” This will help in achieving closure of litigation and disputes in certain cases, especially those seen in the alcoholic spirits industry. Tightening of the GST registration system The Council has been exploring the matching of data from various central and state agencies to detect instances of tax evasion and also to make GST registration more foolproof. Also Read: Online gaming firms likely to be left in the lurch at GST Council meet In sectors, for example, textiles, where the finished product attracts lesser tax rate than that of the inputs going into those products, the duty anomaly acts as a disincentive for new investments.

Tax Council State Central Meeting Gst Gst Council Gst Registration  state  council  today  tax  taxation  meeting  litigation  central  key  registration  officials  expectations  gst

History of this topic

Goa CM Sawant appointed convenor of GoM on GST revenue analysis
1 day, 17 hours ago

Goa CM Sawant appointed convenor of GoM on GST revenue analysis

Live Mint  

Panaji, Mar 25 Goa Chief Minister Pramod Sawant has been appointed as the convenor of the Group of Ministers on GST revenue analysis, officials said on Tuesday. As per the memorandum, the terms of reference for the GoM comprise state-wise revenue trend analysis, including the identification of revenue patterns across sectors and regions. The GoM is mandated to review details …

Opposition leaders press for simplification, reduction of GST
2 days, 7 hours ago

Opposition leaders press for simplification, reduction of GST

Live Mint  

New Delhi, Mar 24 Opposition members on Monday demanded the government to simplify and reduce the Goods and Services Tax as it is putting the burden on the poor. Participating in the debate on the Finance Bill 2025, Supriya Sule said GST needs lots of reform, and there is a need to bring down rates. The Finance Minister should answer …

Tax Weekly Round-Up: March 03 - March 09, 2025
2 weeks, 2 days ago

Tax Weekly Round-Up: March 03 - March 09, 2025

Live Law  

SUPREME COURT Supreme Court Upholds Allahabad HC Decision That Chargers Sold With Cell Phones Cannot Be Taxed Separately Under UP VAT Act 2008 Case title: COMMISSIONER, COMMERCIAL TAX Case no. A division bench of Chief Justice Devendra Kumar Upadhyaya and Justice Tushar Rao Gedela remarked, “This court is cognizant of the large number of statutory appeals pending for disposal before …

Central GST officers detect tax evasion of Rs 1.95 lakh crore during April-January
2 weeks, 2 days ago

Central GST officers detect tax evasion of Rs 1.95 lakh crore during April-January

India TV News  

Central GST officers detect tax evasion of Rs 1.95 lakh crore during April-January During the Budget Session Lok Sabha proceedings, Minister of State for Finance Pankaj Chaudhary told the House that in this fiscal year till January, 25,397 cases of GST evasion have been detected. In a shocking development, the officers of the Central GST have detected tax evasion of …

Congress pitches for GST 2.0, says it supports a truly ‘good and simple tax’ regime
2 weeks, 3 days ago

Congress pitches for GST 2.0, says it supports a truly ‘good and simple tax’ regime

The Hindu  

A day after Union Finance Minister Nirmala Sitharaman announced that Goods and Services Tax rates would be further rationalised, the Congress on Sunday argued for “more comprehensive changes” to the indirect tax regime. “The Indian National Congress had envisaged a GST 2.0 – a truly Good and Simple Tax - in its Nyay Patra for the 2024 Lok Sabha Elections, …

GST rate cut soon, tax review in final stages, says FM Nirmala Sitharaman
2 weeks, 4 days ago

GST rate cut soon, tax review in final stages, says FM Nirmala Sitharaman

Live Mint  

Goods and Services Tax Council is in the final stages of reviewing GST structure and a reduction of the levy would happen soon, union finance minister Nirmala Sitharaman, who chairs the Federal indirect tax body said on Saturday. Speaking at the Economics Times Awards for Corporate Excellence in Mumbai, Sitharaman said that the ministerial group set up by the GST …

Taxes have come down after GST regime, says official at outreach programme
1 month, 1 week ago

Taxes have come down after GST regime, says official at outreach programme

The Hindu  

After the introduction of the GST in 2017, the taxes for many goods had come down, said Director General Mahesh Kumar Rustagi here on Friday. Inaugurating a GST outreach programme for MSME sector, organised by the Directorate General of Taxpayer Services, Commercial Taxes Department of Tamil Nadu and Confederation of Indian Industry, he said taxes on many commodities such as …

The post-Budget agenda: How to make GST 'Good and Simple Tax'
1 month, 1 week ago

The post-Budget agenda: How to make GST 'Good and Simple Tax'

India Today  

Good intention undone by poor implementation. At the SKOCH Summit in New Delhi in November 2024, M. Govinda Rao, economist and former member of the 14th Finance Commission, had said, “Globally, GST is considered a money machine. While political constraints may prevent a single rate, reducing the number of rates would bring clarity and efficiency.” At present, the GST structure …

Tax officers told to give relief to businesses on GST interest, penalty
1 month, 2 weeks ago

Tax officers told to give relief to businesses on GST interest, penalty

Live Mint  

NEW DELHI : The Central Board of Indirect Taxes and Customs has told field officers that businesses which have paid tax dues in time are eligible for relief on interest and even penalty where the department has gone on appeal. In an instruction to officials, CBIC said it has received requests from officers for clarification whether relief on interest and …

GST evasion of ₹1.88 lakh crore detected by CGST officers during April-Dec 2024
1 month, 2 weeks ago

GST evasion of ₹1.88 lakh crore detected by CGST officers during April-Dec 2024

The Hindu  

GST evasion of over ₹1.88 lakh crore was detected by Central GST officers during April-December 2024, the Lok Sabha was informed on Monday. Minister of State for Finance Pankaj Chaudhary said GST evasion, including ITC fraud cases, in 72,393 cases between April and December stood at ₹1.88 lakh crore. In the 2023-24 fiscal, CGST officials detected GST evasion of ₹2.30 …

GST evasion of ₹1.88 lakh cr detected by CGST officers during April-Dec 2024
1 month, 2 weeks ago

GST evasion of ₹1.88 lakh cr detected by CGST officers during April-Dec 2024

Live Mint  

New Delhi, Feb 10 GST evasion of over ₹1.88 lakh crore was detected by Central GST officers during April-December 2024, the Lok Sabha was informed on Monday. Minister of State for Finance Pankaj Chaudhary said GST evasion, including ITC fraud cases, in 72,393 cases between April and December stood at ₹1.88 lakh crore. In the 2023-24 fiscal, CGST officials detected …

Is a cut in GST rates next? GST Council to soon take a decision, says FM Sitharaman
Trending News
1 month, 3 weeks ago

Is a cut in GST rates next? GST Council to soon take a decision, says FM Sitharaman

Firstpost  

The Goods and Services Tax follows a four-tier structure with rates of 5%, 12%, 18%, and 28%. The GST Council will soon take a decision on having fewer and lower rates as the review work is almost complete, Finance Minister Nirmala Sitharaman said on Tuesday. Days after presenting the Union Budget 2025-26 that also provides significant income tax relief to …

GST Council to decide on fewer, lower tax rates soon: Nirmala Sitharaman
1 month, 3 weeks ago

GST Council to decide on fewer, lower tax rates soon: Nirmala Sitharaman

India Today  

Finance Minister Nirmala Sitharaman announced on Tuesday that the GST Council is nearing a decision on rationalising tax rates, as the review process is almost complete. Addressing speculation, Sitharaman dismissed claims that the tax relief was politically motivated ahead of the Delhi Assembly elections, asserting that it reflects Prime Minister Narendra Modi's commitment to taxpayers. The Budget has allocated Rs …

GST rate rationalisation needed: Finance SecyGST rates need to be rationalised: Finance Secretary
1 month, 3 weeks ago

GST rate rationalisation needed: Finance SecyGST rates need to be rationalised: Finance Secretary

Live Mint  

New Delhi, Feb 3 Finance Secretary Tuhin Kanta Pandey on Monday said enough experience has been gained with regard to implementation of GST and now the rates need to be rationalised in consultation with states. The GST Council, chaired by Finance Minister Nirmala Sitharaman and comprising her state counterparts, has set up a group of ministers to suggest changes in …

GST Registration And Payment Of Tax After Inspection Is Not Voluntary Conduct: Madras High Court
1 month, 3 weeks ago

GST Registration And Payment Of Tax After Inspection Is Not Voluntary Conduct: Madras High Court

Live Law  

The Madras High Court stated that GST registration and payment of tax after inspection is not a voluntary conduct. The Assistant Commissioner issued show cause notice arriving a sum of Rs.69,54,554/- as GST liability for the total value of Rs.3,86,36,410/- and rejected the cum-tax basis benefit claimed by the assessee. The Assistant Commissioner passed an order in original, demanding balance …

U.P. launches initiative to broaden GST base
1 month, 3 weeks ago

U.P. launches initiative to broaden GST base

Hindustan Times  

Uttar Pradesh has launched a new initiative aimed at expanding its Goods and Services Tax base by focusing on untapped sectors within the service industry. Commissioner state tax, Nitin Bansal said the service sector has immense scope for broadening the tax bae in the state The state aims to enhance compliance and curb tax evasion by appointing officials to oversee …

GST Filing Deadline Extended by 2 Days Due to Technical Issues
2 months, 2 weeks ago

GST Filing Deadline Extended by 2 Days Due to Technical Issues

Deccan Chronicle  

New Delhi: The government on Friday extended the deadline for filing monthly goods and services tax or GST sales return form GSTR-1 and GST payment by 2 days after taxpayers reported technical glitches in the GSTN system. As per a notification by the Central Board of Indirect Taxes and Customs, the last date for filing GSTR-1 for December is January …

GST on gaming companies: SC stays GST notices worth over ₹1 lakh crore against online gaming firms for tax fraud
2 months, 2 weeks ago

GST on gaming companies: SC stays GST notices worth over ₹1 lakh crore against online gaming firms for tax fraud

The Hindu  

The Supreme Court on Friday stayed the operation of showcause notices of ₹1.12 lakh crore issued under the Goods and Services Tax proceedings against online gaming companies. A Bench of Justices J.B. Pardiwala and R. Mahadevan passed the order in separate petitions filed by 49 online gaming companies. Last year, the top court had transferred to itself 27 writ petitions, …

GST filing delayed as portal glitches persist. Deadline extension expected
2 months, 2 weeks ago

GST filing delayed as portal glitches persist. Deadline extension expected

India Today  

Businesses across India face a potential delay in filing their GSTR-1 returns as the Goods and Services Tax Network portal encounters technical difficulties. Thank you for your understanding and patience!” TECHNICAL ISSUES DISRUPT FILING PROCESS The GSTN portal, essential for filing GST returns, has been under maintenance due to technical glitches. While the system is expected to be operational by …

Facing issues with GST portal? Govt likely to extend filing deadline for taxpayers
2 months, 2 weeks ago

Facing issues with GST portal? Govt likely to extend filing deadline for taxpayers

India TV News  

The Goods and Services Tax Network has identified major technical glitches with the GST portal, leading to discussions on a possible extension of GSTR-1 filing. Impact of GSTR-1 filing deadlines The last date for filing GSTR-1 for the December 2024 tax period is February 11, 2025, for regular taxpayers and February 13, 2025, for the Quarterly Return Monthly Payment scheme, …

BJP counters Congress’s charges on GST
2 months, 2 weeks ago

BJP counters Congress’s charges on GST

The Hindu  

The Bharatiya Janata Party on Thursday accused the Congress of misleading people on the issue of Goods and Services Tax. BJP national spokesperson and former Rajya Sabha MP, Syed Zafar Islam, in a press statement, said the Congress was “rattled by the implementation and success of GST because it no longer has any loopholes, depriving Congress of opportunities for corruption”. …

Kharge demands end to ‘tax terrorism’ in the Budget, calls GST ‘Give Sitharaman Tax’
2 months, 2 weeks ago

Kharge demands end to ‘tax terrorism’ in the Budget, calls GST ‘Give Sitharaman Tax’

The Hindu  

Ahead of the Union Budget, the Congress on Thursday alleged that the goods and services tax had become a means to “loot” people and demanded that the Centre puts an end to “tax terrorism”. In a post on X, Congress president Mallikarjun Kharge said that the GST could stand for the “Gabbar Singh Tax” or “Grahasthi Satyanash Tax ” or …

Gabbar Sitharaman Tax: Congress’ fresh jab at FM, says new circulars are issued 90 months after GST rollout
2 months, 2 weeks ago

Gabbar Sitharaman Tax: Congress’ fresh jab at FM, says new circulars are issued 90 months after GST rollout

Live Mint  

Congress leader Pawan Khera on Thursday took a swipe at Union Finance Minister Nirmala Sitharaman over Goods and Service Tax and said that even 90 months after the implementation of GST, new circulars are being issued. Speaking to ANI in Rajasthan, Khera referred to GST as Gabbar Sitharaman Tax, and said it has affected everyone. The tax that should have …

Existing system to measure GST profoundly flawed, says Minister Palanivel Thiaga Rajan
2 months, 3 weeks ago

Existing system to measure GST profoundly flawed, says Minister Palanivel Thiaga Rajan

New Indian Express  

CHENNAI: Speaking at the almuni meet, Information Technology minister Palanivel Thiaga Rajan said the existing system to measure the goods and services tax is ‘profoundly flawed’ and can be corrected by 20 different steps without needing any new legislation. “At every quarter, we used to get this kind of statement from Delhi, we have record GST collections. If GDP keeps …

GST collection 2024: Congress alleges slowdown in GST collections; asks government to focus on complexities of economy
2 months, 3 weeks ago

GST collection 2024: Congress alleges slowdown in GST collections; asks government to focus on complexities of economy

The Hindu  

The Congress on Friday claimed that the last quarter of the current fiscal year witnessed the “second-slowest pace” of collection of Goods and Services Tax in the past three years and urged the government to focus on the complexities of the economy instead of imposing tax on popcorn. Net GST growth slumps to 3.3% in December, as revenues slow and …

​Selective indecision: on the GST Council’s 55th meeting, decisions
3 months ago

​Selective indecision: on the GST Council’s 55th meeting, decisions

The Hindu  

Well into the eighth year of India’s revamped indirect tax regime, the apex body governing the system met last Saturday and unveiled a flurry of decisions — including some rate changes and clarifications — that were punctuated by some broader issues it chose to kick down the road. Such moves neither reflect well on the Centre’s claims around its hurried …

Tax burden on corporate sponsorships eased
3 months ago

Tax burden on corporate sponsorships eased

Live Mint  

New Delhi: The Goods and Services Tax Council’s decision on Saturday to tweak a rule on corporate sponsorships is set to make these deals more tax efficient and the recipient of funds better off, officials and experts said. The Council’s decision to shift the onus of remitting tax on sponsorship deals from the donor—that is, the entity that receives the …

How to tax popcorn? GST council’s formula sparks outrage
Top News
3 months ago

How to tax popcorn? GST council’s formula sparks outrage

The Hindu  

The GST Council’s move to tax popcorn differently based on its sugar or spice content has drawn criticism from the opposition and sparked social media outrage, with two former government economic advisers questioning the tax system introduced in 2017. The Goods and Services Tax Council, chaired by the Finance Minister and including State representatives, announced on Saturday that non-branded popcorn …

GST on exam forms: Turned dreams of people into source of income, Priyanka GANDHI slams govt
3 months ago

GST on exam forms: Turned dreams of people into source of income, Priyanka GANDHI slams govt

The Hindu  

Congress MP Priyanka Gandhi Vadra on Monday attacked the BJP over levying GST on examination forms, saying the government had turned the dreams of parents who saved every penny to prepare their children for exams into a source of income. The Congress General Secretary shared an examination form of the Kalyan Singh Super Speciality Cancer Institute, Sultanpur, that showed 18% …

Tax Weekly Round-Up [16th December - 22nd December 2024]
3 months ago

Tax Weekly Round-Up [16th December - 22nd December 2024]

Live Law  

SUPREME COURT Coconut Oil Classifiable As 'Edible Oil' For Central Excise Tariff; If Sold As Cosmetic, Taxable As 'Hair Oil' : Supreme Court Case : Commissioner of Central Excise, Salem v. M/s Madhan Agro Industries Ltd Case no. Delhi HC Delhi High Court Disallows Income Tax Dept From Adjusting Stayed Demand Towards Previous Refund Due To Nokia Case title: Nokia …

Towards a simple and rational GST
3 months ago

Towards a simple and rational GST

Hindustan Times  

Social media went pop over popcorn on Saturday, sharing details on the differential Goods and Services Tax rates on variants. But, two larger issues with India’s indirect tax regime need to be promptly addressed. The window for the rationalisation of the tax slabs has been extended, and it isn’t clear whether this will even happen The first has to do …

Congress slams govt over different tax slabs for popcorn, asks if PM will show courage for GST overhaul
Trending News
3 months ago

Congress slams govt over different tax slabs for popcorn, asks if PM will show courage for GST overhaul

The Hindu  

Exhorting the Narendra Modi government to show the courage to overhaul the Goods and Services Tax regime citing the “absurdity” of three different tax slabs for popcorn under the present system, the Congress on Sunday said the current complexities in the system had thrown open several loopholes leading to tax evasion. In a long post on X, Congress General Secretary …

Arunachal committed to support GST reforms for economic growth: Deputy CM
3 months ago

Arunachal committed to support GST reforms for economic growth: Deputy CM

The Hindu  

Arunachal Pradesh Deputy Chief Minister Chowna Mein stated that the government is committed to support GST reforms for fostering economic growth and ease of compliance for all stakeholders in the State. Speaking at the 55th GST Council meeting at Jaisalmer in Rajasthan on Saturday, Mr. Mein, who also holds the Finance portfolio, said that the state government remained dedicated to …

GST’s popcorn moment leaves everyone with bitter aftertaste
Top News
3 months ago

GST’s popcorn moment leaves everyone with bitter aftertaste

New Indian Express  

The 55th GST Council meeting ended without any significant announcements. While it is true that with every passing year, the GST—once hailed as a good and simple tax—is becoming more complex, one cannot deny that tax rules, beyond a point, cannot be simple, howsoever hard one may try. The issue of the tax rate of Malabar parotta is yet to …

GST Council's key decisions: What's cheaper, what's costlier, and all other details
3 months ago

GST Council's key decisions: What's cheaper, what's costlier, and all other details

India Today  

The 55th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman on Saturday, introduced significant changes to the Goods and Services Tax framework. Several items and services will see a reduction in GST rates, offering financial relief: Fortified Rice Kernels : The GST rate on FRK has been reduced to 5% when supplied through the Public Distribution System. On …

Congress slams Centre over 'absurd' popcorn tax slabs, asks PM to overhaul GST
3 months ago

Congress slams Centre over 'absurd' popcorn tax slabs, asks PM to overhaul GST

India Today  

The Congress Sunday said the "absurdity" of three different tax slabs for popcorn under GST only brings to light the growing complexity of the system and asked whether the Modi government will show the courage to launch a complete overhaul for instituting a GST 2.0. Congress general secretary in-charge communications Jairam Ramesh also claimed GST evasion is significant, input tax …

GST Council rejigs rates, defers call on insurance
3 months ago

GST Council rejigs rates, defers call on insurance

Hindustan Times  

The Goods and Services Tax Council in its 55th meeting on Saturday took a slew of decisions to protect the poor, including slashing the tax rate on fortified rice kernels, exempting GST on gene therapy, providing relief to farmers selling black pepper and resins. It, however, deferred several contentious issues such as tax rate rationalisation, GST on insurance premia and …

GST Council exempts gene therapy, banks’ penal charges from tax; clarifies taxation of used vehicles, popcorns
3 months ago

GST Council exempts gene therapy, banks’ penal charges from tax; clarifies taxation of used vehicles, popcorns

Live Mint  

Jaisalmer: India's indirect tax body has decided to exempt expensive cancer treatment gene therapy, penal charges levied by banks on loans, as well as rent paid by small businesses on property leased from individuals from the Goods and Services Tax, finance minister Nirmala Sitharaman told reporters after the GST Council meeting on Saturday. The focus on resolving long-standing disputes, such …

Ex-CEA Arvind Subramanian calls GST Council’s ruling as ‘national tragedy’, says violates spirit of ‘Good & Simple Tax’
3 months ago

Ex-CEA Arvind Subramanian calls GST Council’s ruling as ‘national tragedy’, says violates spirit of ‘Good & Simple Tax’

Live Mint  

Minutes after the 55th meeting of the Goods and Services Tax Council ended in Jaisalmer on Saturday, with details popping in that the caramelised popcorn to attract an 18 per cent GST, former Chief Economic Adviser Arvind Subramanian referred it as 'national tragedy'. Arvind Subramanian even said that decisions taken in the 55th GST Council meeting violate the spirit of …

GST council GoM to meet soon on lowering taxes for insurance premiums
3 months ago

GST council GoM to meet soon on lowering taxes for insurance premiums

Hindustan Times  

PATNA: The goods and services tax council’s group of ministers requires another meeting to discuss lowering taxes on insurance premiums for individuals, senior citizens, and groups, the GoM’s convener Samrat Chaudhary said after a meeting of the council in Rajasthan’s Jaisalmer on Saturday. Union finance minister Nirmala Sitharaman chairs the 55th meeting of the GST Council in Jaisalmer Chaudhary, who …

55th GST council meeting in Jaisalmer on December 21, 2024: Finance Minister Nirmala Sitharaman media briefing
3 months ago

55th GST council meeting in Jaisalmer on December 21, 2024: Finance Minister Nirmala Sitharaman media briefing

The Hindu  

A much-anticipated review of the Goods and Services Tax levies on life and health insurance policies was put off by the apex body in charge of the indirect tax regime, the GST Council at its 55th meeting on Saturday, as some members sought more discussions on the matter before taking a final call. Moreover, rate rationalisation suggestions pertaining to about …

GST council meeting: What gets cheaper & dearer - from popcorn to EV sale
3 months ago

GST council meeting: What gets cheaper & dearer - from popcorn to EV sale

Live Mint  

GST Council Meeting: Finance Minister Nirmala Sitharaman-led goods and services tax Council Meeting on Saturday, December 21, decided to levy an 18 per cent GST on margin value on sale of used electric vehicles by businesses and clarified on the taxability of popcorn, saying caramel popcorn will continue to attract tax at the rate of 18 per cent. The GST …

GST Council Announces Rate Cut On Fortified Rice Kernels To 5% From 18%
3 months ago

GST Council Announces Rate Cut On Fortified Rice Kernels To 5% From 18%

ABP News  

The 55th Goods and Services Tax Council, chaired by Union Finance Minister Nirmala Sitharaman, made multiple key announcements on Saturday. The council also agreed to impose a uniform 18 per cent tax rate on used cars, including electric vehicles, purchased by businesses. Additionally, the council decided to lower the tax rate on fortified rice kernels from 18 per cent to …

GST Council agrees to maintain status quo on taxing ATF by States: Bhatti
3 months ago

GST Council agrees to maintain status quo on taxing ATF by States: Bhatti

Deccan Chronicle  

Hyderabad: Goods and Services Tax Council agreed to maintain the status quo on taxing Aviation Turbine Fuel under VAT, according to Deputy Chief Minister Bhatti Vikramarka Mallu on Saturday. Bhatti, who was also the Finance Minister, attended the 55th meeting of the GST Council meeting chaired by Finance Minister Nirmala Sitaraman at Jaisalmer in Rajasthan on Saturday. On the issue …

GST Council Meeting Highlights: Nirmala Sitharaman defers decision on insurance tax, sweet popcorn to attract 18% tax
3 months ago

GST Council Meeting Highlights: Nirmala Sitharaman defers decision on insurance tax, sweet popcorn to attract 18% tax

Live Mint  

The 55th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman in Jaisalmer, Rajasthan, introduced several updates to the taxation framework while deferring discussions on GST restructuring for insurance products. Finance Minister Nirmala Sitharaman, while addressing the media on Saturday, said the Bihar deputy chief minister Samrat Chaudhary felt that any decision on GST on health insurance would require GoM …

GST Council postpones decision to cut tax on life and health insurance
3 months ago

GST Council postpones decision to cut tax on life and health insurance

Hindustan Times  

The GST Council on Saturday postponed a decision on cutting tax rate on life and health insurance premiums, officials said. Revenue Secretary Sanjay Malhotra attends a GST Council meeting with Union Finance Minister Nirmala Sitharaman at Vigyan Bhawan, in New Delhi. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, decided …

GST Council 55th Meeting in Jaisalmer: FM Nirmala Sitharaman to discuss potential revisions in insurance, aviation taxes
3 months ago

GST Council 55th Meeting in Jaisalmer: FM Nirmala Sitharaman to discuss potential revisions in insurance, aviation taxes

Live Mint  

The 55th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman and including state finance ministers, will convene today, December 21, in Jaisalmer, Rajasthan. This pivotal gathering of the apex body for indirect taxes is expected to focus on significant rate changes for life and health insurance, luxury items, and the possible inclusion of aviation turbine fuel under the …

55th GST Council Meeting: Raises tax on used car sales; postpones debates on insurance, 'sin' products
3 months ago

55th GST Council Meeting: Raises tax on used car sales; postpones debates on insurance, 'sin' products

New Indian Express  

The 55th Goods and Services Tax Council meeting, held in Jaisalmer, Rajasthan, under Finance Minister Nirmala Sitharaman on Saturday, deferred discussions on the much-anticipated proposal to restructure GST on insurance premiums. The GST Council also postponed discussions on the widely discussed rate rationalisation for various consumer items, including so-called ‘sin’ products. Under the current GST framework, e-commerce platforms face specific …

Council may increase GST rate on all kinds of used cars to 18 per cent
3 months ago

Council may increase GST rate on all kinds of used cars to 18 per cent

New Indian Express  

JAISALMER: The GST Council in its 55th meeting on Saturday is likely to announce changes in tax rates on several goods and services. As per sources, the fitment panel of the Council has decided to levy 18% GST on all kinds of used cars. The Council is likely to agree with the fitment panel’s recommendation and raise GST rate to …

GST Council postpones decision on reducing tax for life, health insurance premiums
3 months ago

GST Council postpones decision on reducing tax for life, health insurance premiums

India TV News  

On Sunday, the GST Council, in its 55th meeting chaired by Union Finance Minister Nirmala Sitharaman, deferred the decision to cut taxes on life and health insurance premiums. Group of ministers to meet again for further discussions Bihar Deputy Chief Minister Samrat Chaudhary, who headed the Group of Ministers tasked with considering the issue, said a fresh meeting was needed …

Discover Related