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GST Council Meet Highlights | The GST Council has accepted the recommendations of a group of ministers (GoM) on correcting the so-called inverted duty structure and pruning the list of exemptions, said Finance Minister Nirmala Sitharaman. The council has given the GoM more time to decide on rate rationalization measures, Nirmala Sitharaman told reporters after the two-day GST Council meeting ended in Chandigarh on June 29. The council also considered tax on online gaming, casinos
EVs eligible for concessional GST rate of 5%
GST Council's August meeting to be held in Tamil Nadu's Madurai
GST Council did not discuss issue of crypto assets: FM
GST Council decisions on exemptions, correction of inversion to come into effect on July 18: Revenue Secy
GoM on rate rationalisation has been given three months: Tarun Bajaj
Few states want GST compensation to continue for some time: FM
Next GST Council meet on August 1 or first week of August: FM
GoM report on casinos, online gaming to be submitted on July 15: Sitharaman
GoM report on tax exemptions, correction of inversion accepted: Sitharaman
GoM given more time for rate rationalisation report, says Sitharaman
Discussion on crypto was not part of GST Council's agenda for this meeting
'GST Council to meet next in August'
Centre yet to respond on demand to extend GST compensation, says Puducherry minister
All states, including BJP ruled, want GST compensation extended, says Tamil Nadu FM
47th Council Meeting ends on its second day
State Asked for 5-year Extension for GST Compensation, No Response From Centre: Shanti Dhariwal
GST Council Deferred Proposal to Levy 28% GST on Casinos, Online Gaming, Casinos & Lottery: CM of Karnataka
Online Gaming Should be Taxed at Full Value of the Consideration: Meghalaya CM Conrad Sangma
Council provides relief to Transportation Industry
Central Government has Delivered on Promise to give GST Compensation: Madhya Pradesh FM
Uttrakhand FM Prem Chand Aggarwal to Demand Centre Help in Fighting Current Revenue Loss
Have asked for extension of GST compensation in the past: Tamil Nadu FM Palanivel Thiaga Rajan
States that go against GST Council will be isolated: Sushil Kumar Modi
GST Council to Discuss Compensation to States, Tax on Online Gaming Today
Compensation to states a bone of contention on day one of 47th GST Council meeting
The live blog session has concluded. For more news, views and updates, stay tuned with Moneycontrol.com.
The GST Council has accepted the recommendations of a group of ministers (GoM) on correcting the so-called inverted duty structure and pruning the list of exemptions, while giving the panel three more months to decide on rate rationalization measures, officials said on June 29. Read full report.
GST Meet LIVE Updates | GST Council gives in-principal approval for relaxation in provisions for suppliers making supplies through e-commerce operators. The Council has also clarified that services provided by the guest anchors to TV channels in lieu of honorarium attract GST.
GST Meet LIVE Updates | GST Council recommends that hotel accommodation priced up to Rs 1000 per day shall be taxed at 12 percent. It has also recommended that hospital room rent exceeding Rs 5000 per day per patient should be taxed to extent of amount charged for room at 5 percent without ITC.
GST Meeting LIVE Updates | GST Council clarifies electric vehicles, whether or not fitted with a battery pack, are eligible for the concessional GST rate of 5 percent,
GST Council Meeting LIVE Updates | The following tax rate cuts have been recommended by the GST Council:
- Slashing rate on ostomy, certain orthopedic appliances to 5 percent from 12 percent.
- Lowering rate on transport of goods and passengers by ropeways to 5 percent from 18 percent.
- Cutting rate on renting of truck/goods carriage where cost of fuel is included to 12 percent from 18 percent.
- Slashing rate on ostomy, certain orthopedic appliances to 5 percent from 12 percent.
GST Council Meeting LIVE Updates | The following increase in tax rates has been recommended by the GST Council:
- Hike in rate on printing, writing or drawing ink to 18 percent from 12 percent.
- Hike in rate on LED Lamps, lights and fixture, their metal printed circuits board to 18 percent from 12 percent.
- Hike in rate on Solar Water Heater and system to 12 percent from 5 percent.
- Hike in rate on job work in relation to manufacture of leather goods and footwear to 12 percent from 5 percent.
- Hike in rate on works contract for roads, bridges, railways, metro, effluent treatment plant, crematorium to 18 percent from 12 percent.
- Raising rate on Tetra Pak to 18 percent from 12 percent.
- Raising rate on cut and polished diamonds to 1.5 percent from 0.25 percent.
GST Council Meeting LIVE Updates | "On the invitation of the Tamil Nadu finance minister, the next GST Council meeting will be held in Maduraim," Finance Minister Sitharaman said, as the press briefing concluded. The meeting will be held either on August 1 or in the first week of August, she had earlier said.
GST Meet LIVE Updates | There was no opposition to tweaking rates at current GST Council meeting, FM Sitharaman said during the press briefing.
