GST 48th council meeting has finally been concluded, and the council has approved the report and decisions. The 48th GST council has discussed offences, e-commerce registration, and tribunal setup. The meeting was scheduled on 17th December 2022 via video conferencing with state ministers.
48th GST Council Meeting Updates
- GST offences can now be commenced at a threshold of two crores, except in cases of fake invoices.
- GST Ethyl Alcohol applies to blended petrol at 5%
- The decriminalization of certain offences, including obstruction of services by officers and failure to provide information by officers.
- Unregistered suppliers can sell their goods through e-commerce portals
- Insurance companies do not charge GST on No Claim Bonuses
- GST Appellate Tribunal has not yet made a decision
- The GST is not payable when a residential dwelling is rented to a registered person if he/she is using it for his/her own residence and not on behalf of a business.
Download the Press Release of the 48th GST Meeting
Agenda for 48th Meeting of GST Council
- To verify the suggestion of the Group of Ministers on Goods and Service Tax Appellate Tribunal (GSTAT)
- For acknowledging the 2nd report of the Group of ministers upon rate rationalization (as per the submission).
- Acknowledging providing the post facto approval to the circular upon opening the two-month special window concerned the transitional credit.
- And for acknowledging the issuance of the circular to eliminate the IGST on the ocean freight.
When is the 48th GST counsil meeting
There is no news about the exact date.