GST Council Meet Outcome | More Focus On Ease Of Doing Business? Mahesh Jaising & Pratik Jain

GST Council Meet Outcome: FM Sitharaman said that the council took decisions related to trade facilitation and provide relief to tax-payers. The next GST meet will be held post budget session of the Parliament. Responding to a question on GST relief for online gaming companies, Sitharaman said that the council didn't discuss the matter as it was not on the agenda.
Key Takeaways: Analysis
- Could not take up some agenda points due to paucity of time
- Next GST Council meeting should happen in mid-August
- Lots of decisions taken to ease compliance burdens
- Decision to waive interest and penalties for demand notices u/s 73 of GST ACT
- Applicable in cases where tax payers pays full tax demand by 31.3.2025
- GST council has decided to waving interest and penalties notices for FY18 to FY21
- Also recommended that the time limit to avail input tax credit for FY18 to FY21 may be deemed
- Time limit to file GSTR4 to be extended to June 30 from 30th April to help small tax payers
- Pre-deposit for filing appeals to be brought down
- Council has decided for the insertion of functionality in form GSTR-1A
- Pan India authentication has been approved on the basis of biometric Aadhar
- Will roll out biometric based Aadhaar authentication on all India basis in phased manner
- Uniform 12% GST rate for all type of milk cans
- It has been clarified that all types of sprinklers will attract 12% GST
- Uniform 12% GST rate has been approved for all kind of carton boxes
- Hostels outside educational institutions will be exempted from GST
- To exempt hostel accommodation from GST up to Rs 20,000 per person per month
- Hostels within educational institutions are already exempted from GST
- Condition applicable for stay of over 90 continuous days
- GST Council recommended 12% GST on all solar cooker
- Deputy CM of Bihar Samrat Choudhary will be chairman of GOM in rate rationalisation
- Issue related to GST on online gaming was not on agenda for today; wasn't discussed in meeting today
- GOM on online gaming will submit a status report on rate rationalisation
#gstcouncilmeet #milkcarten #onlinegaming #railway #gstcouncilmeet2024 #gst #gstcouncil #gstcouncilmeeting #fertilizers #gaming #generalinsurance #insurance #etnow #businessnews
Subscribe To ET Now For Latest Updates On Stocks, share market, business News, Trading, Crypto Updates | bit.ly/Subscri...
To Stay Updated Download the Times Now App :-
Android Google Play : goo.gl/zJhWjC
Apple App Store : goo.gl/d7QBQZ
Social Media Links :-
Twitter - goo.gl/hA0vDt
Facebook - goo.gl/5Lr4mC
G+ - goo.gl/hYxrmj
Website - www.etnownews.com
Subscribe Now To Our Network Channels:-
Times Now: bit.ly/Subscri...
Mirror Now: bit.ly/Subscri...

[@murlidhargarg6261]

Rate ratinliosed is the very worst idea said by the earlier FM ARUN JATILY SIR
SO PLEASE DONT SPREAD THE PERFUME IN THE AIR WHICH IS NOT GIVING POSITIVE OUTCOME

[@MurthyMurthy-wb7nx]

Registered entire world stock market and number of shares and company registration and remove company utras,, give gyarenttee and witnesses by central government,, company annual financial report not more than opening balance of principal terms and conditions apply,,, G S T holder balance sheet,, family balance sheet,, friends balance sheet,, villages balance sheet,, post balance sheet,, hobli balance sheet,, taluk balance sheet,, district balance sheet!,, state balance sheet,, country balance sheet,, United Nations balance sheet,, including g r t all

[@madhukargowda8937]

I have already paid intrest and liability for 19 -20 will it be reimursed