The 47th GST Council meeting took a host of decisions that will affect everyone. This report tells about the key outcomes of the meeting and its likely impact on the stakeholders
The next Goods and Services Tax (GST) Council meeting will be held in Tamil Nadu's Madurai in August, Union Finance Minister Nirmala Sitharaman said on Wednesday.
From revising some rates to deciding on the thorny issue of compensation extension for states, here is what the Council is likely to take up
West Bengal Finance Minister Chandrima Bhattacharya on Monday said she will be representing the state at the crucial two-day GST Council meeting in Chandigarh. The Council in its meeting starting Tuesday is slated to discuss an array of issues, including a mechanism for compensating states for revenue loss, tax rate tweaks on some items and relaxed registration norms for small online suppliers. I have arrived for the meet along with other officials, including Additional Chief Secretary Manoj Pant, Bhattacharya, the Minister of State (Independent Charge), Department of Finance, told PTI over phone. The meeting will be chaired by Union Finance Minister Nirmala Sitharaman and comprise state counterparts. The Council may see a stormy discussion around compensation payout to states, with opposition-ruled states aggressively pushing for its continuation beyond the five-year period, which ends in June Earlier this month, former West Bengal finance minister Amit Mitra had written to ...
The council will also clear levying the highest tax of 28 per cent on online games, casinos and horse racing, besides, discussing a report of a GoM on high-risk taxpayers under GST to curb evasion.
The GST Council at its meeting in Chandigarh this week is likely to make changes in goods and services tax rates on a handful of items
Currently, GST is a four-tier structure attracting tax rates of 5, 12, 18, and 28 per cent
Centre will bring for discussion in next meeting of the GST Council the issue of bringing aviation turbine fuel (ATF) into the goods and services tax regime, Finance Minister Nirmala Sitharaman said
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The GST Council will meet on September 17 in Lucknow which among other things may review concessional rates on Covid essentials
Apart from fewer slabs, the council will do well to take on issues like bringing petroleum under GST, addressing conflicting rulings of AARs and the issue of compensation to states beyond 2022
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The council meet is expected to deliberate the exemption and concession on Covid-19 related items
Financials and materials stocks gained ahead of the 43rd GST Council meet to be chaired Finance Minister Nirmala Sitharaman later in the day
The minister is scheduled to chair the meeting through video conferencing on Friday
Ahead of the GST Council meeting, Congress leader and Punjab Finance Minister Manpreet Badal has written to Finance Minister Nirmala Sitharaman
In an Q&A, the West Bengal finance minister says differential pricing is absurd and will result in a huge additional outgo for states
Also want to discuss extension of the compensation period beyond July 2022
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