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Following the Karnataka state elections, the Goods and Services Tax Council will need to nominate a new chairperson for the important group of ministers (GoM) on rate rationalisation. Basavaraj S. Bommai, the former Chief Minister of Karnataka who resigned after the BJP was defeated in the assembly elections, served as the convener of the GoM […]
The 50th Goods and Services Tax (GST) Council meeting is in progress today, on July 11th, 2023. Chaired by Union Finance Minister Nirmala Sitharaman, this meeting holds paramount importance in discussing crucial taxation issues. It is important to note that the information shared is reflective of the present circumstances. We will continue to provide you […]
The forthcoming 49th GST council meeting would get conducted in the last week of February concerning the temporary relief to the auto industry while it seems to postpone the hike in the rate of compensation cess proposal which is been subjected to be applicable for the MUVs similar to the SUVs that counts beneath the […]
The GST council’s 48th meeting would have incorporated amendments in the SUV segment in India. Under the guidelines, Mahindra Thar has been removed from the SUV category, resulting in less tax. Mahindra Thar is a market leader and is the top-rated 4X4 SUV available in the market at present. In 2020, Mahindra Thar obtained a […]
The GST council issued recommendations at its 49th meeting regarding GST compensation, the gst appellate tribunal, the gom report on capacity-based taxation and special composition scheme for certain commodities, GST rates, and additional trade facilitation measures. On February 18, 2023, in New Delhi, the GST Council’s 49th meeting was presided over by Smt. Nirmala Sitharaman, […]
The GST Council approved decriminalizing specific crimes and doubled the limit to the launching prosecution beneath the tax act to Rs 2 cr, however, kept the limit at Rs 1 cr for bogus invoicing. The department, for the SUVs (sport utility vehicles), charges a 22% compensation cess over the 28% GST and would have chosen […]
N K Singh, Chairman, of Fifteen Finance Commission, mentioned that the concern about the effective operation of the GST council could be repeated in the other sectors of the Indian economy, such as agriculture, the social sector, and the economy with digital links. The participation of the Indian states is essential to meet India’s net […]
Dr Amit Mitra, Former Finance Minister of West Bengal on Wednesday wrote to Union Finance Minister Nirmala Sitharaman aiming for an urgent Goods and Services Tax (GST) Council meeting, which he pointed out had not taken place in the last four and a half months. He was one of the founding members of the GST […]
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 […]
