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Under the Chairpersonship of Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman, the 49th GST council meeting would have launched different suggestions concerning the GST compensation, GST Appellate Tribunal, approval of the Report of Group of Ministers (GoM) on Capacity Based Taxation and Special Composition Scheme in specific Sectors on GST, recommendations relating […]
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 official might revise the rate, for some services or products and remove some of the exemptions in a bid to revise the instance of the inverted duty. A group of ministers (GoM) led by Karnataka Chief Minister Basavaraj Bommai would work on the 2nd round of amendments for the GST rate. “The inverted […]
A Group of ministers would need to see towards the rate rationalization by the Goods and services tax council is thinking to maintain an 18% and 28% slab and ending a 12% slab. People who know about the development, the majority of the members of the group learn that a 12% slab accounts for nearly […]
On the recommendations of the Group of ministers, some amendments to the GST rate have been taken in the 47th official meeting. Members of GoM belong from 7 states and the suggestions were incurred by the council, which consists of members from states and the centre. The government sources articulated that the rate of tax […]
The Goods and Services Tax (GST) officials have made a six-member group of ministers (GoM) to guide critical revisions needed in the GST laws and additional legal modifications to set up the GST Appellate Tribunal (GSTAT). Haryana Deputy Chief Minister Dushyant Chautala has led the Group of Ministers. “In its 47th meeting held on June […]
State ministers are ready to recommend the amendments to the GST rate framework might ask for the single 15% levy via integrating the 12% and 18% slabs, however, aware of proposing the rise in the limit rate to 8% from 5%, provide rising inflation concerns. The group of ministers (GoM) seems to meet this week […]
The second meet of the group of ministers GoM on the system reforms addressed via Maharashtra Deputy Chief Minister and Finance Minister Ajit Pawar would be decided to build 7 suggestions to the GST official. The same engaged the use of the biometric system to control GST theft, physical inspection of the office space of […]
Finally, the GST council 47th meeting has been concluded and the council has approved. A change in some of the tax rates to rationalize the levy was approved by the Council, but non-BJP-ruled states did not agree to the change, setting up a potential conflict over tax revenues. GST Council lost some tax exemptions on […]
