GST council raises prosecution limit, hikes cess on SUVs
2 years, 3 months ago

GST council raises prosecution limit, hikes cess on SUVs

Hindustan Times  

The Goods and Services Tax Council on Saturday removed GST on some types of animal feed, reduced tax on ethanol supplied to refineries for blending with petrol, clarified that SUVs having certain features would attract 22% cess, decided to keep no-claim bonus on insurance products outside the tax ambit, and decriminalised various offences barring crimes for faking invoices. Explaining decisions of the 48th GST Council, revenue secretary Sanjay Malhotra said the move to bring refineries on par with oil marketing companies that already enjoyed a 5% tax on ethyl alcohol will boost blending of ethanol with petrol to reduce the country’s dependence on imported fuel and “thereby, save precious foreign exchange”. Saurabh Agarwal, tax partner at EY India, said: “The overall focus of the GST Council again appeared to be on resolving the uncertainties for industry on multiple issues viz levy of compensation cess on SUVs, taxability of residential dwelling for personal use…” “Today’s GST Council meet was predominantly characterised by various clarifications being issued and trade/compliance facilitation measure such as conditions applicable for levy of higher rate of compensation cess for SUVs, decriminalisation under GST, etc. “This issue seems to have been put to rest with the GST council specifying the four conditions for the 22% GST compensation cess levy,” he added.

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What gets cheaper, what is costlier after GST Council meet? Details here
3 months ago

What gets cheaper, what is costlier after GST Council meet? Details here

Hindustan Times  

The 55th GST Council meeting, chaired by Union finance minister Nirmala Sitharaman in Jaisalmer, Rajasthan, on Saturday, brought changes affecting the prices of various goods and services. 2) Rice kernels, AAC blocks, raisins, pepper The GST Council has cut GST rates on the fortified rice kernels used for public distribution to 5% from 18% earlier. 4) Quick commerce, ecommerce, food …

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 …

55th GST Council Meeting: Rates, clarifications
3 months ago

55th GST Council Meeting: Rates, clarifications

New Indian Express  

JAISALMER: Even though the GST Council in its 55th meeting in Jaisalmer avoided ‘thorny’ issues such as lowering GST rates on insurance premiums and a discussion on rate rationalisation, it did make several changes in the rates of goods and services. Among the major changes announced, the Council decided to increase the GST rate from 12% to 18 % on …

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 …

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 meets to decide on lower taxes on insurance policies, ATF inclusion
Trending News
3 months ago

GST Council meets to decide on lower taxes on insurance policies, ATF inclusion

Deccan Chronicle  

Jaisalmer: The 55th GST Council meeting which is expected to decide on reducing the tax rate on health and life insurance, besides considering rate rejigs on 148 items began here on Saturday. However, 18 per cent GST will continue on premiums paid for policies with health insurance cover of over Rs 5 lakh. The four-tier tax slab of 5, 12, …

Insurance, plane fuel might get cheaper as GST Council mulls lowering taxes
3 months ago

Insurance, plane fuel might get cheaper as GST Council mulls lowering taxes

Hindustan Times  

The 55th GST Council meeting which is expected to decide on reducing tax rate on health and life insurance, besides considering rate rejigs on 148 items began here on Saturday. However, 18 per cent GST will continue on premiums paid for policies with health insurance cover of over ₹5 lakh. The four-tier tax slab of 5, 12, 18 and 28 …

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 …

No plans of 35% GST slab yet: MoS Finance
3 months, 1 week ago

No plans of 35% GST slab yet: MoS Finance

New Indian Express  

New Delhi: There are no plans yet to have a 35 percent tax slab under the Goods and Services Tax, and any decision on this would be taken together in consultation with GST Council, minister of state for finance, Pankaj Chaudhary told reporters in Delhi on Friday. The compensation cess levied under GST would cease to exist after March 2026, …

Cheema advocates for continuation of GST compensation regime
3 months, 3 weeks ago

Cheema advocates for continuation of GST compensation regime

Hindustan Times  

In a strong push for the continuation of the goods and services tax compensation regime, Punjab finance minister Harpal Singh Cheema on Monday strongly recommended the continuation of the GST compensation cess regime beyond March 31, 2026, to ensure that states can mitigate the revenue loss caused by the subsumation of various taxes into the indirect tax. TPunjab finance minister …

Up to 75 pc of GST revenue comes from 18 pc slab: MoS Finance
3 months, 3 weeks ago

Up to 75 pc of GST revenue comes from 18 pc slab: MoS Finance

Deccan Chronicle  

New Delhi: About 70-75 per cent of GST revenues collected in 2023-24 fiscal year came from the 18 per cent slab, while just 5-6 per cent came from the 12 per cent bracket, Parliament was informed on Monday. The average GST rate has fallen below the revenue neutral rate of 15.3 per cent, prompting the need to start discussions on …

Top News on Dec 1: GST collection rises, Andhra dissolves Waqf board, Kejriwal rules out alliance in Delhi polls, more
3 months, 3 weeks ago

Top News on Dec 1: GST collection rises, Andhra dissolves Waqf board, Kejriwal rules out alliance in Delhi polls, more

Live Mint  

From increase in GST collection to Andhra govt dissolving Waqf board to killing of 7 Maoists to Donald Trump picking loyalist Kash Patel as his new FBI director, here are today's top stories. GST collection for November rises by 8.5% to ₹ 1.82 lakh crore The goods and service tax collection for the month of November rose 8.5 per cent …

GST Council To Meet In Jaisalmer On Dec 21; Key Decisions On Insurance And Rate Cuts Likely
4 months, 1 week ago

GST Council To Meet In Jaisalmer On Dec 21; Key Decisions On Insurance And Rate Cuts Likely

ABP News  

The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman, is scheduled for December 21 in Jaisalmer, Rajasthan. The council, comprising state finance ministers, is expected to deliberate on major tax policy changes, including a decision on exempting or reducing GST rates on health and life insurance policies. Following discussions last month, the GoM has proposed …

GST Council to meet in Jaisalmer on Dec 21; may decide on insurance levy, rate rationalisation
4 months, 1 week ago

GST Council to meet in Jaisalmer on Dec 21; may decide on insurance levy, rate rationalisation

Deccan Chronicle  

New Delhi: The GST Council will meet on December 21 in Jaisalmer, in which the much-awaited decision on exemption or lower GST rate on health and life insurance is likely to be taken. The council, chaired by Union Finance Minister Nirmala Sitharaman and comprising her state counterparts, may also take up some rate rationalisation exercise and reduce tax rates on …

GST Council Meeting: what is cheaper and costlier
6 months, 2 weeks ago

GST Council Meeting: what is cheaper and costlier

The Hindu  

The 54th GST Council meeting, held in New Delhi on Monday announced several changes to the existing Goods and Services Tax slabs. The Council decided to reduce the GST rate on cancer drugs Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 12% to 5%. Namkeens, or savoury snacks, will also become cheaper after the GST on extruded/expanded savoury food products is reduced …

GST Council meets today to discuss rate rationalisation, tax on insurance
6 months, 2 weeks ago

GST Council meets today to discuss rate rationalisation, tax on insurance

New Indian Express  

MUMBAI: The GST Council will be meeting later on Monday to discuss an array of important issues, including the much-discussed GST rate on life and health insurance policies. The meeting may also discuss rationalisation of rate structure under the GST. As per sources, the Council may also announce extending the GST amnesty scheme for another year—FY21. In addition to these …

GST council must mind government, taxpayer needs
6 months, 2 weeks ago

GST council must mind government, taxpayer needs

New Indian Express  

The 54th Goods and Services Tax Council meeting scheduled for Monday is expected to take on the much-awaited rationalisation of tax rates. The council is also expected to consider the contentious issue of 18 per cent GST on life and health insurance premiums, which has drawn the ire of a wide section of Indians. Last month, the Group of Ministers …

A fresh start: On the Goods and Services Tax Council meet
8 months, 3 weeks ago

A fresh start: On the Goods and Services Tax Council meet

The Hindu  

The Goods and Services Tax Council was convened last week for the first time in nearly nine months. Apart from several industry-specific measures, a few of which will kick in with retrospective effect, the Council also opted to waive interest and penalty on tax dues for the first three years of GST, provided they are paid by March 2025. Beyond …

53rd GST Council Meeting: Know Recommendations Relating To GST Rates On Goods & Services
9 months ago

53rd GST Council Meeting: Know Recommendations Relating To GST Rates On Goods & Services

Live Law  

The 53rd GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. The GST Council made the following recommendations relating to changes in GST tax rates: Uniform IGST Applicable On Components Related To Aircrafts A uniform rate of 5% IGST will apply to imports of 'Parts, components, testing equipment, tools and tool-kits of aircrafts, irrespective …

Regularisation Of Non-Levy Or Short Levy Of GST: 53rd GST Council Meeting
9 months ago

Regularisation Of Non-Levy Or Short Levy Of GST: 53rd GST Council Meeting

Live Law  

The 53rd GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. The council proposed the insertion of Section 11A in CGST Act for granting power not to recover duties not levied or short-levitated as a result of general practice under GST Acts.The GST Council recommended inserting a new Section 11A in CGST Act. The …

GST compensation cess may end before March 2026 deadline
1 year ago

GST compensation cess may end before March 2026 deadline

Hindustan Times  

The Goods and Services Tax compensation cess levied on products such as automobiles, liquor, cigarettes, aerated water and coal could end earlier than the March 31, 2026 deadline on the back of robust GST collections every month, two officials with direct knowledge of the matter said. GST compensation cess may end before March 2026 deadline States have been already given …

Hindustan Unilever Receives GST Demand, Penalties Worth Rs 447.5 Crore
1 year, 2 months ago

Hindustan Unilever Receives GST Demand, Penalties Worth Rs 447.5 Crore

ABP News  

FMCG giant Hindustan Unilever Ltd received a Goods and Services Tax demand and penalties, coming up to Rs 447.5 crore from authorities in five states, a Monday late-night regulatory filing from HUL revealed. Further, the Deputy Commissioner of Commercial Tax Officer, Bengaluru issued a demand of tax on the grounds of surplus GST credit availed coming up to Rs 8.90 …

Company Taking Calculated Business Risk Cannot Challenge Root Of Contract Merely Due To Change In Tax Laws: Calcutta HC Denies GST Refund
1 year, 4 months ago

Company Taking Calculated Business Risk Cannot Challenge Root Of Contract Merely Due To Change In Tax Laws: Calcutta HC Denies GST Refund

Live Law  

The Calcutta High Court has recently dismissed writ petitions by M/s Kayal Construction, which had been awarded tenders floated by the state government, on the condition that the petitioner would bear expenses for all the taxes/cess payable. Mere replacement of Sales Tax, Excise Duty, VAT and other similar taxes by the GST regime does not change such parameters in any …

Centre notifies 18% GST on corporate guarantees
1 year, 4 months ago

Centre notifies 18% GST on corporate guarantees

Live Mint  

New Delhi: The Central Board of Indirect Taxes and Customs has said that Goods and Services Tax will apply to corporate guarantees between related entities such as parent firms and subsidiaries from Thursday, 26 October. As per the CBIC order, 18% GST will apply to corporate guarantees between parent and subsidiaries and other related parties either on the financial consideration …

GST shock: Online gaming, casinos to be taxed at 28%
1 year, 8 months ago

GST shock: Online gaming, casinos to be taxed at 28%

Live Mint  

The Goods and Services Tax Council on Tuesday exempted integrated GST on select drugs when imported for personal use, redefined sport utility vehicles to prevent carmakers from side-stepping the highest tax bracket and levied a 28% uniform GST on online gaming, horse racing, and casinos on the full value of the bets. In the case of online gaming, horse racing, …

Full list of items to be costlier and cheaper after 50th GST Council meet
1 year, 8 months ago

Full list of items to be costlier and cheaper after 50th GST Council meet

Live Mint  

The all-powerful Goods and Services Tax Council on Tuesday decided to impose a 28% tax on the turnover of online gaming companies, horse racing and casinos, finance minister Nirmala Sitharaman said. Key things to get cheap after 50th GST Council Meet: GST Council exempts cancer fighting drugs, medicines for rare diseases from GST tax GST Council exempts GST satellite launch …

GST Council to weigh tax cuts on select items
1 year, 8 months ago

GST Council to weigh tax cuts on select items

Live Mint  

The goods and services tax Council meeting next week will discuss tax relief on certain medicines, farm products, arthroplasty implants, and services such as satellite launches by private organizations, a person with direct knowledge of the matter said. A committee of officers that reviews proposals for tax rate changes, called the fitment committee, has recommended lowering the GST rates on …

Centre caps maximum GST cess rate on pan masala, tobacco
2 years ago

Centre caps maximum GST cess rate on pan masala, tobacco

Live Mint  

The central government has capped the maximum rate of GST compensation cess that would be levied on pan masala, cigarettes, and other forms of tobacco and linked the highest rate to their retail sale price. According to the amendment, the maximum GST compensation cess rate for pan masala will be 51% of the retail sale price per unit, from the …

28% GST Payable On Supply PVC Floor Mats For Cars: AAR
2 years ago

28% GST Payable On Supply PVC Floor Mats For Cars: AAR

Live Law  

The Gujarat Authority for Advance Ruling has ruled that 28% GST is payable on the supply of PVC floor mats for cars.The two-member bench of Amit Kumar Mishra and Milind Kavatkar has observed that the floor mats used for four-wheel motor vehicles supplied by the applicant are principally for use in motor vehicles.The applicant is in the business of manufacturing …

49th GST Council Meeting: Know The Measures For Facilitation Of Trade
2 years, 1 month ago

49th GST Council Meeting: Know The Measures For Facilitation Of Trade

Live Law  

The 49th meeting of the GST Council was held on 18th February 2023 at Vigyan Bhawan, New Delhi under the chairpersonship of the Union Finance & Corporate Affairs Minister Nirmala Sitharaman.The measures for the facilitation of trade were:Extension of time limit for application for revocation of cancellation of registration and one-time amnesty for past casesThe Council has. The Council has …

Centre will clear GST dues of states, TS to get Rs.1835 cr in arrears
2 years, 1 month ago

Centre will clear GST dues of states, TS to get Rs.1835 cr in arrears

Deccan Chronicle  

New Delhi: The GST Council on Saturday said the Centre had decided to clear the pending balance of GST compensation of Rs.16,982 crore for June 2022. The Centre will also clear the admissible final GST Compensation to those states who have provided revenue figures certified by the Accountant General which amounts to `16,524 crore. Briefing media after the 49th meeting …

GST Council clears setting up tribunals, ad valorem cess on pan masala
2 years, 1 month ago

GST Council clears setting up tribunals, ad valorem cess on pan masala

Live Mint  

Goods and Services Tax Council on Saturday decided to set up appellate tribunals to resolve GST disputes, tighten the tax regime of pan masala, gutka and chewing tobacco to check tax evasion and reduce the late fee on annual return filings to small businesses, finance minister Nirmala Sitharaman, who chairs the Council, told reporters after the 49th meeting of the …

Entire GST compensation cess dues will be cleared, announces Nirmala Sitharaman
2 years, 1 month ago

Entire GST compensation cess dues will be cleared, announces Nirmala Sitharaman

Hindustan Times  

Finance minister Nirmala Sitharaman on Saturday announced that the central government will clear the entire dues of the pending balance of the GST compensation, as decided at the 49th GST Council meeting. Even that is getting cleared," Nirmala Sitharaman said announcing the clearance of all GST dues to the tune of ₹16,982 crore. Finance minister Nirmala Sitharaman addressing the press …

GST Council: Pending GST compensation of ₹16,982 cr for June will be cleared
2 years, 1 month ago

GST Council: Pending GST compensation of ₹16,982 cr for June will be cleared

Live Mint  

Union Finance Minister Nirmala Sitharaman on 18 February said that the entire pending GST compensation will be cleared. Apart from this, she also said that the government will clear the entire pending balance of the GST compensation - a total of ₹16,982 crores for June. “We have announced today that the entire due on the pending balance of the GST …

Govt will clear all GST compensation of Rs 16,982 cr today, announces Nirmala Sitharaman
2 years, 1 month ago

Govt will clear all GST compensation of Rs 16,982 cr today, announces Nirmala Sitharaman

India TV News  

Union Finance Minister Nirmala Sitharaman on Saturday said that the government will clear the entire due on the pending balance of the GST compensation of Rs 16,982 crores today itself. "We have announced today that the entire due on the pending balance of the GST compensation will be cleared as of today. In other words, the entire pending balance of …

100 Important High Court Judgments of GST in 2022
2 years, 2 months ago

100 Important High Court Judgments of GST in 2022

Live Law  

Allahabad High Court: Allahabad High Court Stays GST Demand On Payment Of Royalty To Conduct Mining Activity Case Title: M/s Jitendra Singh versus Union of India The Allahabad High Court bench of Justice Saumitra Dayal Singh has stayed the GST demand on payment of royalty to conduct mining activity. Show Cause Notice Cancelling GST Registration Must Disclose Reason: Allahabad High …

For sixth month in a row, GST revenues cross ₹1.4 lakh crore mark
2 years, 6 months ago

For sixth month in a row, GST revenues cross ₹1.4 lakh crore mark

The Hindu  

India’s gross revenues from the Goods and Services Tax were ₹1,43,612 crore in August, 28% higher than a year ago. This is the sixth successive month when GST revenues have been over the ₹1.4 lakh crore mark, the Finance Ministry said, stressing that GST collections have risen 33% till August this year, compared to the same period of 2021-22, and …

GST compensation sunset: Punjab, Goa, Chhattisgarh may face most revenue stress
2 years, 8 months ago

GST compensation sunset: Punjab, Goa, Chhattisgarh may face most revenue stress

The Hindu  

With the sunset of the five-year assured compensation for States under the Goods and Services Tax regime from this month, Punjab, Goa and Chhattisgarh are likely to face the most revenue stress, as per a new working paper by the National Institute of Public Finance and Policy. The paper, titled ‘Revenue Assessment of GST in India’ by NIPFP associate professor …

GST compensation due to States now totals ₹35,266 crore
2 years, 8 months ago

GST compensation due to States now totals ₹35,266 crore

The Hindu  

Outstanding Goods and Services Tax Compensation dues to States now amount to ₹35,266 crore, the Finance Ministry informed Parliament on Monday. These dues pertain to June 2022, the last month for which States were assured a certain level of revenue in order to switch to the GST regime, and would be paid from GST Compensation Cess collections, whose levy has …

GST on Curd, Lassi, Other Items from July 18: What Becomes Cheaper, What Becomes Dearer?
2 years, 8 months ago

GST on Curd, Lassi, Other Items from July 18: What Becomes Cheaper, What Becomes Dearer?

News 18  

Towards the end of June, the GST Council chaired its 47th meet under the leadership of finance minister Nirmala Sitharaman, where a slew of decisions were taken regarding the levy of Goods and Service Tax on various items. – The GST Council also decided to bring hotel rooms under Rs 1,000 per day under the 12 per cent GST slab, …

GST Meet Highlights: GoM Suggestions on GST Exemptions, Correction of Inverted Duty Accepted, Says FM
2 years, 8 months ago

GST Meet Highlights: GoM Suggestions on GST Exemptions, Correction of Inverted Duty Accepted, Says FM

News 18  

Finance minister Nirmala Sitharaman announced the outcome of the 47th Goods and Service Tax Council meeting on Wednesday. “Highlight of this meeting was that we could consider, discuss and decide on four Group of Ministers reports on exemptions, correction of inverted duty structure, finance minister,” said while announcing the outcome of the 47th GST meeting. The GST Council also decided …

GST Council bites the bullet
2 years, 8 months ago

GST Council bites the bullet

Hindustan Times  

Decisions taken in the 47th Goods and Services Tax Council meeting are on expected lines. The five-year window for guaranteed revenue compensation to states, which was a part of the original federal agreement on GST, has not been extended. While the argument might not be palatable to state governments, especially those ruled by the Opposition, phasing out the guaranteed compensation …

Government hikes GST for household items
2 years, 8 months ago

Government hikes GST for household items

The Hindu  

From July 18, tax hikes will kick in for over two dozen goods and services, ranging from unbranded food items, curd and butter milk to low-cost hotels, cheques and maps, the Goods and Services Tax Council decided after a marathon two-day meet that concluded on Wednesday. Exemptions and concessional rates on several items shall be withdrawn, based on recommendations of …

GST Council meeting | Extend compensation period, urge States
2 years, 8 months ago

GST Council meeting | Extend compensation period, urge States

The Hindu  

From July 18, tax hikes will kick in for over two dozen goods and services, ranging from unbranded food items, curd and butter milk to low-cost hotels, cheques and maps, the Goods and Services Tax Council decided after a marathon two-day meet that concluded on Wednesday. Exemptions and concessional rates on several items shall be withdrawn, based on recommendations of …

GST Council discusses compensation issue ‘informally’
2 years, 8 months ago

GST Council discusses compensation issue ‘informally’

Live Mint  

Chandigarh: The Goods and Services Tax Council is “informally” discussing the demands from several state governments that their indirect tax reform-related revenue losses be compensated beyond June when the current scheme expires, said a person aware of the development. The current scheme of compensation, which ran for five years since the inception of GST in July 2017, expires at the …

GST Council Meet: Pre-Packed Curd, Paneer, Makhana, Wheat To Attract 5% GST. Check Details
2 years, 8 months ago

GST Council Meet: Pre-Packed Curd, Paneer, Makhana, Wheat To Attract 5% GST. Check Details

ABP News  

A list of more items have now come under the purview of the Goods and Service Tax as the GST panel headed by Union finance minister Nirmala Sitharaman approved the recommendation of the Group of ministers from states on withdrawing exemptions in order to rationalise the levy. Check products that will attract GST now: Products to attract GST if they …

Forced by Opposition, GST Council to discuss compensation to states barely 24 hours before deadline
2 years, 8 months ago

Forced by Opposition, GST Council to discuss compensation to states barely 24 hours before deadline

India Today  

Facing pressure from Opposition-ruled states, the GST council on Tuesday agreed to include their demand for a discussion on extension of compensation to states as an agenda item on Day 2 of the meeting on Wednesday, 24 hours before the five-year deadline ends. However the compensation cess, levied on luxury and demerit goods, was to continue till March 2026 primarily …

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