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.
