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On December 21, 2024, the 55th Goods and Services Tax (GST) Council meeting, held in Jaisalmer, Rajasthan offered an amendment to Sections 107 and 112 of the Central Goods and Services Tax (CGST) Act, 2017 as a measure of facilitating the process of filing of appeals concerning only disputes related to the penalty amount. Finance […]
The 55th GST Council meeting held on 21st Dec 2024 at Jaisalmer, has been chaired by Finance Minister Nirmala Sitharaman. One of the main decisions opted for was to waive the GST on the contributions incurred via the general insurance companies from the third-party motor vehicle premiums to the Motor Vehicle Accident Fund ( MVA […]
The latest 55th GST Council meeting was held on December 21, 2024, in Jaisalmer, Rajasthan, and was chaired by the Union Finance Minister. An amendment is been proposed by the council in the field classification of registered persons for the taxpayers who choose for composition levy through FORM CMP-02 The latest meeting of the GST […]
The 55th GST Council meeting held on 21st December 2024 in Jaisalmer, Rajasthan was chaired by Union Finance Minister Nirmala Sitharaman. The committee’s recommendation has been approved by the council suggesting the measures for distinct problems raised by the States concerning the problems related to the IGST settlement and seeking for the committee to conclude […]
The 55th Goods and Services Tax (GST) Council meeting held on 21st December 2024 by the Union Finance Nirmala Sitharaman made some essential decisions about taxes on vehicles and GST rates. They declared that corporations will have to pay an 18% GST rate on the profit for selling their used electric vehicles (EVs) and older […]
The 54th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman and attended by state finance ministers and tax officials, concluded with several key recommendations. Additionally, the GST rate on small digital transactions (PAs) is to be discussed at the next meeting. Additionally, the current 18 per cent GST rate on life and health […]
Chief Minister Pramod Sawant has been appointed as convenor of the reconstituted GST Council Group of Ministers (GoM) to enhance the real estate sector under the GST regime. In an official statement, this was quoted by the office of the Goods and Services Tax Council. By the State, Sawant was appointed as a permanent member […]
The GST council as part of taxpayers friendly decision suggested the exemption of interest and penalty for the matters of tax demand remarked that have been sent u/s 73 of the GST act, Finance Minister Nirmala Sitharaman expressed after the meeting. Nirmala Sitharaman expressed that in the matter of demand notices issued for 2017-18, 2018-19, […]
To provide transparency in the telecom sector the forthcoming GST council meeting is been scheduled for June 22 in New Delhi. The council might recommend the requirement for definitive guidelines on the GST timing regarding spectrum allotment to telecom companies. The council can specify for the telecom companies the payment of license fees and spectrum […]
