Key decisions ahead for GST Council: Rate cuts, slabs, compensation cess

The challenge will be to rationalise rates and adjust the part which is now collected as cess in a manner that makes the GST system more efficient and helps improve overall tax collection

The 54th meeting of the Goods and Services Tax (GST) Council took several important decisions, while it was noted that some critical issues will be reviewed by various groups of ministers (GoMs) from states. Among the key decisions by the Council was to exempt the import of services by foreign airlines from related parties based outside the country when such transitions are made without consideration. This will help a number of foreign airlines that were served tax notices. The Council also recommended business-to-consumer e-invoicing on a pilot basis. This comes after the successful implementation of the business-to-business