GST Council Meet Outcome | More Focus On Ease Of Doing Business? Mahesh Jaising & Pratik Jain
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- Опубліковано 20 сер 2024
- 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
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SO PLEASE DONT SPREAD THE PERFUME IN THE AIR WHICH IS NOT GIVING POSITIVE OUTCOME
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