The GST Appellate Tribunal’s principal bench will be situated in New Delhi and there will be benches in the states.
It is time to take stock of what further needs to be done by the Council to ensure that GST becomes the efficient tax that it was purported to be. Four main areas require the Council’s attention including tax rationalisation and multiplicity of audits
"There is zero per cent GST on papad, but kachri has been kept in the 18 per cent slab. When there is five to 12 per cent tax on namkeen, pasta, pizza bread, vermicelli, etc, it is wrong to levy 18 per cent tax on kachri," Sisodia said in a tweet.
The GST Council's meeting on February 18 will leave it one short of a half century of meetings but the work ahead of it is arduous
Representations were received regarding the demand of compensation cess on coal rejects sold by the power companies to the washery.
The report has suggested that the exports of these items shall only be allowed against a letter of undertaking with the consequential refund of accumulated input tax credit to curb fake invoicing and fraudulent exports.
The Council in its 47th meeting had increased the rate on pencil sharpeners to correct the inverted duty structure. However, some of the Council members asked to re-look at the decision as these were mostly used by school children.
The GST Council has suggested decriminalising three separate offences, including tampering with tangible evidence, during their most recent meeting.
In 2022, the Supreme Court delivered judgments that had wide-ranging ramifications. The apex court also revived the institution of the constitution bench during Chief Justice of India UU Lalit's 74-day tenure. As many as six constitution benches were formed to hear 25 cases, which will impact the law of the land. In this year-end special, Moneycontrol lists the SC's five most important judgments of 2022
From clarifying the position regarding recommendations by the GST Council to upholding reservations for economically weaker sections, the apex court pronounced many judgments this year that have a far-reaching impact
The Council also clarified on the definition of SUVs (sports utility vehicles) for the levy of 22 per cent compensation cess over the 28 per cent GST and decided to come out with parameters to define MUVs (multi utility vehicles).
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The latest meeting of the GST Council comes nearly six months after it's previous one in Chandigarh
No decision was taken to increase the incumbent tax rate on any item during the 48th GST Council meeting, the finance ministry said.
A general characterisation of online gaming on par with betting and gambling will have serious consequences for the industry’s development.
A roadmap for the creation of the appellate tribunal, taxing of the online gaming sector and rationalisation of slabs are some crucial decisions that the Council should not delay any longer
Speaking on government's GST revenue, Bajaj added that close to about Rs 1.50 lakh crore GST collections on a monthly basis should be the run rate in the coming months
The GoM had recommended taxing online gaming, casinos, and race courses at a uniform 28 percent in its June report. Since a consensus has not evolved since then, the panel is likely to stay with the original decision
The direction, which relies on the deliberations of the GST Council's 47th meeting, will ease the compliance burden for tax authorities and taxpayers
The Union finance minister was responding to opposition criticism on issues surrounding the apex tax body
Speaking at a book launch, the finance minister also said institutions already in place need time to settle down
“I take extreme pride to say that Council has applied its mind at various levels,” Nirmala Sitharaman said.
The Opposition has been stalling parliamenatry proceedings, demanding a debate on inflation and GST on staples such as rice, dal and curd
The decision to levy the tax, which came into effect from July 18, is not that of the Union government but of the GST Council.
The GST Council in June tweaked norms to impose a 5 percent tax on pre-packaged and labelled pulses, cereals, flour and other items for packs of up to 25 kg. These staples when sold loose continue to be exempt from GST