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On October 7th, the Goods and Services Tax (GST) Council, the central indirect tax authority, is scheduled to assemble to address issues regarding the establishment of GST appellate tribunals and their distribution nationwide. According to an official statement, millet flour in powdered form, comprising a minimum of 70% millet by weight, will be exempt from […]
On 2nd August 2023, the 51st meeting of the Goods and Services Tax (GST) Council took place in New Delhi via video conferencing. The meeting was chaired by Nirmala Sitharaman, the Union Finance Minister, and attended by other officials including Revenue Secretary Sanjay Malhotra, Union Minister of State for Finance Pankaj Chaudhary, and various state […]
The Goods and Services Tax (GST) Council, the federal indirect tax agency, has been urged to address the challenges faced by small enterprises and combat GST fraud. Amit Mitra, the principal chief advisor to West Bengal Chief Minister Mamata Banerjee, has written a letter to Union Finance Minister and GST Council Chairperson Nirmala Sitharaman, expressing […]
The 51st GST Council meeting on the date August 2nd, 2023 was conducted via video conferencing in New Delhi with Union Finance Minister Nirmala Sitharaman, presiding over the meeting with Union Minister of State for Finance Pankaj Chaudary, Revenue Secretary Sanjay Malhotra, and several state ministers. The gaming industry is quite disappointed with the GST […]
The GST Council has given relief to patients by exempting cancer medicine Dinutuximab and special food for treating rare diseases from GST. Dinutuximab, branded as Qarziba, is used to treat nerve cell cancer called neuroblastoma in patients over 1 year old. The medicine costs Rs. 36 lakhs and is imported by individuals for personal use. […]
Buying a bigger utility vehicle that consists of an SUV and MPV (multi-purpose vehicle) shall cost higher. The UVs especially those that are more than 4 meters would seem to witness a rise in the prices by 2% with the 50th GST council surging the cess from the present 20% to 22% which is a […]
The 50th GST Council may provide clarification on July 11 regarding the TCS liability of suppliers engaged in e-commerce trading through Open Network Digital Commerce (ONDC) when multiple operators are involved in a transaction. The Department for Promotion of Industry and Internal Trade (DPIIT) has introduced a new program called ONDC, Open Network for Digital […]
For checking the bogus registration, the GST council would seem to diminish the 30 days duration from 45 days at present, for the submission of PAN-linked bank account information of the individual asking for the registration with the tax council. The meeting of the council dated 11th, July would seem to furnish for the compulsory […]
The GST Council is expected to define multi-utility vehicles (MUV) and crossover utility vehicles (XUV) in order to collect a 22 per cent compensation cess over and above the 28 per cent GST slab rate, according to the sources. The council will make it clear in its next meeting which will be held on July […]
