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Recommendations of the Group of Ministers (GoM) looking into issues pertaining to GST on life and health insurance will be placed before the GST Council when received, Parliament was informed on Monday. The issue of exempting/reducing GST on life and health insurance was placed before the GST Council in its 54th meeting on September 9, 2024.
The 54th GST Council meeting has recommended rectification processes related to the ITC for demands under section 73, 74, 107 and 108 of the CGST Act, 2017.
As the 54th GST Council Meeting last week formed a Group of Ministers (GoM) to decide the future of the…
The GST Council on Sunday constituted a 13-member Group of Ministers (GoM) to suggest GST rate on premiums of various health and life insurance products and submit its report by October 30.
Days after recommendations of the 54th GST Council meeting to bring private schools affiliated to state boards and CBSE under the GST net, the private school managements affiliated with the Punjab State Education Board have laid their hopes on the Punjab and Haryana High Court’s stay on the Punjab government’s decision to levy 18 per cent GST on the affiliation fee being paid by aided and affiliated schools.
Delhi Finance Minister Atishi on Monday said the GST Council has decided to exempt research grants from the GST net, and called it a victory for the entire nation.
The 54th GST Council met and inter-alia made the following recommendations relating to changes in GST tax rates, provide relief to individuals, measures for facilitation of trade and measures for streamlining compliances in GST.
The all-powerful GST Council, during its meeting on Monday, made several key decisions that include establishing a state panel to examine the future of the compensation cess, proposing the treatment of cess collections post-loan repayment, expanding the existing state panel on rate rationalisation to address issues related to life and health insurance, and providing relief to foreign
The GST Council, chaired by Finance Minister Nirmala Sitharaman, has submitted status reports on several pending matters, from the Group of Ministers (GoM), including rate rationalisation, real estate and online gaming.
Recommendations during 54th meeting of the GST Council held on 09.09.2024
