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The Union Finance Minister Nirmala Sitharaman presided over the 53rd meeting of the GST Council (22nd June 2024) in New Delhi with the Revenue Secretary and CBIC Chairman. The meeting began at 2:00 PM, but, the Finance Minister addressed the public in the evening. Revisions in Section 73 and Section 74 of CGST Act, 2017 […]
The Patna High Court dismissed a writ petition by stating it was an over-enthusiastic exercise of an advocate petitioner, challenging the legality of the central goods and services tax (GST) council. Under the GST Act, the council suggested the Parliament’s actions to assist nationwide fiscal problems in indirect taxation and help the central legislature in […]
Finance Minister Nirmala Sitharaman addressed Parliamentarians’ request to raise the GST registration sales threshold, stating that the GST Council can consider it. However, she emphasized that most small businesses should ideally be part of the GST framework. During her response on the Central Goods and Services Tax (Second Amendment) Bill, 2023 in Rajya Sabha, Sitharaman […]
The Bengaluru Solid Waste Management Limited (BSWML), which was established by the state government to effectively manage solid waste, has been granted an exemption from paying 18% GST to the state government. This decision to exempt BSWML from GST was made during the 52nd GST council meeting held on October 7 in New Delhi, chaired […]
Although the GST Council has not mandated a tax reduction on lithium-ion batteries used in Electric Vehicles (EVs), many players in the industry remain optimistic about maintaining growth, though at a slower pace. They are actively seeking government support to expedite the adoption of EVs in India. Rather than concentrating solely on the current use […]
The bus operators conducted as the companies providing via e-com portals are not included in Section 9(5) of the Central Goods and Service Tax Act, 2017, witnessed in the 52nd GST council meeting. Starting from January 1, 2022, the responsibility for paying GST on bus transportation services provided through Electronic Commerce Operators (ECOs) has been […]
On October 7th, 2023, the 52nd Goods and Services Tax (GST) Council Meeting, presided by the Union Finance Minister, was conducted. The minister was accompanied by Revenue Secretary Sanjay Malhotra, State Finance Minister Pankaj Chaudhary, CBIC chairman ..etc. The Council has proposed an alteration to sub-rule (2) of Rule 159 within the CGST Rules of […]
The GST Council is set to clarify the input tax credit for life insurers, addressing a recent demand of Rs. 290 crore imposed on the Life Insurance Corporation (LIC). The state-owned giant is expected to get relief with this development. The complexity surrounding GST occurs in relation to traditional life policies or endowment plans, where […]
During its upcoming meeting on October 7, the GST Council is expected to provide clarity regarding the exemption from Goods and Services Tax (GST) for the supply of electricity by real estate companies, malls, and airport operators to their lessees (occupants). Even when billed separately, this supply is considered exempt from GST as it is […]
