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The finance ministry on December 9 reiterated “that no report from the Group of Ministers (GoM) to look into rate rationalisation is pending for consideration of the GST Council.”
The GST Group of Ministers (GoM) on rate rationalisation has finalised its report recommending sweeping changes to tax rates on 148 items, including a significant overhaul for the textile sector. The rate changes will be revenue-positive and are likely to be discussed in the upcoming GST Council meeting on December 21, three sources said.
The GST Council is expected to discuss potential tax relief on select insurance plans at its upcoming meeting in Rajasthan on December 21–22, according to a report by The Times of India. The Council may consider eliminating the 18 per cent goods and services tax (GST) on term insurance plans and health insurance policies, particularly for senior citizens and coverage plans up to Rs 5 lakh
The GST Council is seriously discussing rationalisation, going through GST rates “item by item”, the Union Finance Minister, Nirmala Sitharaman, said in an interaction with the journalists of The Hindu group of publications, on Saturday.
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.