Union Minister for Finance and Corporate Affairs Nirmala Sitharaman chairs the 55th meeting of the GST Council, in Jaisalmer, Rajasthan, today.
ST Council Meeting Highlights 21 December 2024
- December 21, 2024 23:58
Watch | GST Council clarifies taxation on popcorn, used car sales by businesses
- December 21, 2024 20:15
GST Council Meeting Live News and Updates: “Reduction in rate of fortified rice kernels to 5%, gene therapy exempted,” says Finance Minister Nirmala Sitharaman
- December 21, 2024 20:13
GST Council Meeting Live News and Updates: “ACC blocks containing more than 50% fly ash will attract 12% GST,” says FM
- December 21, 2024 20:12
GST Council Meeting Live News and Updates: No decision on Aviation Turbine Fuel, Health Insurance yet
- December 21, 2024 20:09
GST Council Meeting Live News and Updates: “Will bring in new registration process for smooth registration of small companies,” says Finance Minister Nirmala Sitharaman
- December 21, 2024 19:54
Watch | GST Council slashes rate on fortified rice kernels to 5 per cent: FM Nirmala Sitharaman
- December 21, 2024 19:46
GST Council Meeting Live News and Updates: Fitment committee will further deliberate on GST on food delivery apps, says CBIC Chairman
- December 21, 2024 19:45
GST Council Meeting Live News and Updates: Once decided, it will have a bearing on the notices sent to the food delivery apps, adds Sanjay Kumar Agarwal, CBIC Chairman
- December 21, 2024 19:44
GST Council Meeting Live News and Updates: Decision on composite service should be taxed at 5% deferred, says CBIC Chairman
- December 21, 2024 19:43
GST Council Meeting Live News and Updates: If there is a mistake, it can be corrected during the filing of the annual return for the FY25 which is due by November 2025, CBIC Chairman adds
- December 21, 2024 19:43
GST Council Meeting Live News and Updates: If a GST return is filed, the GST of 1A can be included in the return. Any liability can be calculated based on the applicable tax rate, says CBIC Chairman
- December 21, 2024 19:38
GST Council Meeting Live News and Updates: CBIC Chairman responds to question on vouchers
“They are considered actionable claims. Since only a few actionable claims are defined under the GST Act, such as those related to gambling. Vouchers do not fall under this category and are therefore not subject to GST”
- December 21, 2024 19:35
GST Council Meeting Live News and Updates: If these units have rented their premises from individuals who are unregistered, GST will be exempt for them, states FM Sitharaman
- December 21, 2024 19:34
GST Council Meeting Live News and Updates: A decision has been taken to provide relief for micro and small units under the composition scheme, says FM
- December 21, 2024 19:32
GST Council Meeting Live News and Updates: CBIC Chairman responds to question on food delivery aggregators
“The taxability of delivery services has been deferred, and clarity is expected in due course. In the case of restaurant services provided by an e-commerce operator (ECO), the delivery of food to the customer’s door will be considered a composite service. ECO will be treated as the service provider in this scenario. While a 5% GST rate has been suggested for restaurant services, the committee has been tasked with reviewing all related aspects, including the impact on ECO operators. This will be brought to GST council for further discussion,” says CBIC Chairman
- December 21, 2024 19:23
GST Council Meeting Live News and Updates: Salted popcorn and caramelised popcorn are treated differently for GST purposes because of the added sugar, CBIC Chairman says
- December 21, 2024 19:22
GST Council Meeting Live News and Updates: CBIC Chairman talks about the popcorn issue
- December 21, 2024 19:22
GST Council Meeting Live News and Updates: They are discussing in detail about insurance. So it’s taking time, says FM
- December 21, 2024 19:20
GST Council Meeting Live News and Updates: Regarding SUVs, the issue was clarified by way of the amendment from July 26, 2023, CBIC chairman answers
- December 21, 2024 19:20
GST Council Meeting Live News and Updates: FM replies to question on auto companies’ requirement on clarification of 22% on utility vehicles
- December 21, 2024 19:19
GST Council Meeting Live News and Updates: Nothing decided on cab aggregators yet. We are still discussing it, says FM
- December 21, 2024 19:18
GST Council Meeting Live News and Updates: No timeline has been given on online gaming. Extension has been given, says FM
- December 21, 2024 19:18
“That’s why the decision on rationalisation has not been made yet”
- December 21, 2024 19:17
”There are still many details related to rationalisation and simplification that need to be finalised,” says FM
- December 21, 2024 19:17
“Equally, it’s not just about reducing the rate; it’s about determining the appropriate slab”
- December 21, 2024 19:17
“The council has agreed that the system has stabilised, so we need to examine it item by item”
- December 21, 2024 19:17
GST Council Meeting Live News and Updates: The goal is for rates to come down compared to 4-5 years ago, states FM
- December 21, 2024 19:16
GST Council Meeting Live News and Updates: It is a holistic exercise aimed at reducing the burden on common daily items, says FM
- December 21, 2024 19:16
GST Council Meeting Live News and Updates: Despite speculation, I credit the ministers who have gone to great lengths in this process, says FM
- December 21, 2024 19:16
GST Council Meeting Live News and Updates: All kinds of factors are being discussed regarding rate rationalisation, says FM
- December 21, 2024 19:14
GST Council Meeting Live News and Updates: FM talks about rate rationalisation panel
- December 21, 2024 19:14
“Therefore, I expressed uncertainty about whether an existing practice could be used as a precedent to take this forward,” says FM
- December 21, 2024 19:13
“At that time, the decision was specific to Kerala, and it wasn’t intended as a precedent for other states”
- December 21, 2024 19:13
“I just want to say that when Kerala’s decision was made, there was no prior Council decision to allow any future state facing a disaster to automatically invoke the 1% levy provided in the law”
- December 21, 2024 19:12
Telangana highlighted its own crisis, Himachal Pradesh referred to the flooding and cloudburst it experienced a year or two ago, and West Bengal mentioned facing floods as well,” says FM
- December 21, 2024 19:11
“While the sentiment in the house was supportive, with AP seeking similar provisions as Kerala due to major flooding, other states also expressed their concern,” says FM
- December 21, 2024 19:11
“This levy lasted for two years. The request was made by Kerala in 2018. The Council approved it in 2019,” she adds
- December 21, 2024 19:10
“In 2018 in Kerala after a natural disaster, sought the council’s permission to levy a 1% GST on B2C transactions for all items,” says FM when asked about Andhra’s flood management
- December 21, 2024 19:08
GST Council Meeting Live News and Updates: FM said black pepper and raisins when supplied by any agriculturalist are not liable for GST, states FM
- December 21, 2024 19:07
GST Council Meeting Live News and Updates: Meeting opens to questions from media
- December 21, 2024 19:07
GST Council Meeting Live News and Updates: Therefore, the treatment of used EVs may differ from that of traditional used cars it is not a blind application of 18%, FM adds
- December 21, 2024 19:06
GST Council Meeting Live News and Updates: EV market is not yet saturated enough to categorise used EVs as regular used cars, says FM
- December 21, 2024 19:06
GST Council Meeting Live News and Updates: If a company purchases an EV, or if a registered used car dealer buys an EV, makes modifications or adds value to it, and then sells it, GST applies, says FM
- December 21, 2024 19:05
GST Council Meeting Live News and Updates: No GST in case of selling/buying of used EVs, says FM
- December 21, 2024 19:04
GST Council Meeting Live News and Updates: Council is in favour of buying EV, states FM
- December 21, 2024 19:03
“While popcorn with just salt or chili is taxed at 5% once it has added sugar, as in the case of caramelised popcorn, it is no longer considered a salty snack and falls under a different tax rate.”
- December 21, 2024 19:03
GST Council Meeting Live News and Updates: Salted popcorn and caramelised popcorn are treated differently for GST purposes, says FM Sitharaman
- December 21, 2024 19:01
GST Council Meeting Live News and Updates: There’s a lot of speculation in the media, and as a result, there’s a lot of speculation in the social media, says FM
- December 21, 2024 19:01
GST Council Meeting Live News and Updates: FM Sitharaman talks about the popcorn debate on social media
- December 21, 2024 19:00
GST Council Meeting Live News and Updates: Whether there should be a separate GST on delivery charges and food was also discussed, says FM
- December 21, 2024 18:58
The GST council has given in principle approval to a concept note for amending the GST system to introduce a new registration framework, says FM
- December 21, 2024 18:55
GST Council Meeting Live News and Updates: There has been widespread speculation regarding their work, and the gom needs additional time to address these matters fully, says FM
- December 21, 2024 18:55
GST Council Meeting Live News and Updates: Similarly, the gom on rate rationalisation also requires more time, says FM Sitharaman
- December 21, 2024 18:54
GST Council Meeting Live News and Updates: Specifically, they are awaiting input from IRDAI, which has not yet been received, says FM
- December 21, 2024 18:54
GST Council Meeting Live News and Updates: The GoM expressed that, despite progress, more time is needed to address certain aspects of health insurance, says FM
- December 21, 2024 18:53
“The Group of Ministers (GoM) on health insurance, chaired by the Deputy Chief Minister of Bihar, had requested the Council to address their issue first due to his early departure”
- December 21, 2024 18:53
GST Council Meeting Live News and Updates: A proposal to refer the matter to a group of ministers was also declined, leaving ATF outside the GST framework, says FM
- December 21, 2024 18:52
GST Council Meeting Live News and Updates: Discussions on bringing ATF under GST were raised but rejected by the states, who considered ATF part of the crude, says FM petroleum and diesel basket
- December 21, 2024 18:52
GST Council Meeting Live News and Updates: This decision is particularly beneficial for small businesses, says FM
- December 21, 2024 18:51
“Additionally, the Council has issued a significant clarification that no GST is payable on penal charges levied and collected by banks and NBFCs from borrowers for non compliance with loan terms”
- December 21, 2024 18:51
GST Council Meeting Live News and Updates: The exemption is exclusively for payment aggregators handling transactions under ₹2,000, says FM
- December 21, 2024 18:51
GST Council Meeting Live News and Updates: However, this exemption does not extend to payment gateways or other FinTech services that do not involve the settlement of funds, says FM
- December 21, 2024 18:51
GST Council Meeting Live News and Updates: Payment aggregators processing payments below ₹2,000 are eligible for exemption, says FM
- December 21, 2024 18:49
It is important to amend the definition of pre packaged and labelled items to encompass all commodities intended for retail sale weighing or containing not more than 25 kg or 25 L, says FM
- December 21, 2024 18:49
but if a merchant purchases and sells these products, GST implications may apply, says FM
- December 21, 2024 18:48
When these are supplied directly by an agriculturist whether a farmer, plantation worker, or any small-scale producer they are not liable for GST, says FM
- December 21, 2024 18:48
Another important clarification relates to black pepper, whether fresh green, dried, or Kashmiri raisins, says FM
- December 21, 2024 18:48
If the fly ash content exceeds 50%, these blocks will fall under HS code 6815 and attract a GST rate of 12%, says FM
- December 21, 2024 18:48
Additionally, clarifications are being issued regarding ACC blocks containing more than 50% fly ash, says FM
- December 21, 2024 18:48
These adjustments include reductions, exemptions, or extensions of rates, says FM
- December 21, 2024 18:48
This is also an extension of the 5% GST rate that applies to food items used in food preparation for free distribution to weaker sections, says FM
- December 21, 2024 18:47
Next is the exemption of IGST on imports of all equipment and consumable samples by inspection teams of the IAEA, subject to specific conditions, says FM
- December 21, 2024 18:47
Otherwise, the working capital was getting blocked because they had to pay it and then claim it back, says FM
- December 21, 2024 18:47
This was a particularly important request from traders and exporters. In order to help exporters, this relief is being provided, says FM
- December 21, 2024 18:46
Then there is a reduction in the rate of compensation to 0.1% on supplies to merchant exporters, at par with the GST rate on such supplies, says FM
- December 21, 2024 18:46
Initially introduced in 2019, this exemption has now been extended, ensuring ongoing support for this essential defence initiative, says FM
- December 21, 2024 18:46
These exemptions apply to systems, subsystems, equipment, parts, sub-parts, tools, test equipment, and software used in the assembly and manufacture of the LR-SAM system
- December 21, 2024 18:43
GST Council Meeting Live News and Updates: Next is gene therapy, which is now very critical for life saving measures taken for very life threatening diseases have been totally exempt, says FM
- December 21, 2024 18:42
GST Council Meeting Live News and Updates: It reflects a conscious effort to make fortified rice more affordable and accessible to those in need.
- December 21, 2024 18:42
GST Council Meeting Live News and Updates: This decision was made with the intent of ensuring these kernels, often supplied for distribution through the PDS, reach the poor at a lower cost
- December 21, 2024 18:42
GST Council Meeting Live News and Updates: The tax rate on fortified rice kernels, classified under 1904, has been reduced to 5%.
- December 21, 2024 18:33
GST Council Meeting Live News and Updates: GST Council to set up a Group of Ministers to study cess proposal by Andhra Pradesh
- December 21, 2024 17:26
GST Council Meeting Live News and Updates: Development projects wreaking havoc on agricultural and horticultural land, says Mehbooba Mufti
- December 21, 2024 17:25
GST Council Meeting Live updates and news: ‘If the GST rises to 28% for the Kashmiri shawl, our art will automatically die,’ says People’s Democratic Party president Mehbooba Mufti.
- December 21, 2024 17:24
GST Council Meeting Live News and Updates: Shahtoosh, heritage of J&K, was also banned earlier, says Mehbooba Mufti
“The Kashmiri shawl is not just a means of livelihood for us but an identity of Jammu and Kashmir. It is famous all over the world. The (previous) National Conference government banned the Shahtoosh, which was our heritage. That also caused economic losses,” Mehbooba told reporters.
- December 21, 2024 17:21
GST Council Meeting Live News and Updates: ‘Centre trying to make people of Jammu and Kashmir dependent solely on tourism’, says Mehbooba Mufti
- December 21, 2024 17:21
GST Council Meeting Live News and Updates: Proposed GST hike for Kashmiri shawl will finish craft, says Mehbooba - PTI
- December 21, 2024 16:52
GST Council Meeting News Live: Proposed GST hike for Kashmiri shawl will finish craft, says Mehbooba
PDP supremo Mehbooba Mufti on Saturday said the proposed increase in GST for Kashmiri shawl would finish the craft and appealed to Jammu and Kashmir Chief Minister Omar Abdullah to address the issue, PTI report said.
She also alleged that the Centre was trying to make the people of Jammu and Kashmir dependent solely on tourism.
“The Kashmiri shawl is not just a means of livelihood for us but an identity of Jammu and Kashmir. It is famous all over the world. The (previous) National Conference government banned the Shahtoosh, which was our heritage. That also caused economic losses,” Mehbooba told reporters.
“Today, when you increase GST on Kashmiri shawl to 28 per cent, our art will automatically die,” the People’s Democratic Party (PDP) president added.
- December 21, 2024 16:40
GST Council Meeting Live News and Updates: GST Council Press Conference Video Live
- December 21, 2024 15:52
GST Council Meeting news and updates live: More visuals from the meeting
- December 21, 2024 15:52
GST Council meeting live news and updates: Visuals from the meeting
- December 21, 2024 15:49
GST Council Meeting Live news and updates: GoM also proposed new rates for apparel, packaged drinking water, bicycles under ₹10,000
The GoM also proposed new apparel tax rates, with garments priced up to ₹1,500 attracting 5% GST, while those over ₹10,000 would face a 28% tax. Additionally, GST on packaged drinking water and bicycles under ₹10,000 is suggested to be reduced to 5%.
- December 21, 2024 14:58
GST Council live news updates: GoM on rate rationalisation defers report submission
The Group of Ministers (GoM) on GST rate rationalisation has postponed the submission of its report to the GST Council, as announced by Bihar Deputy Chief Minister Samrat Chaudhary. The report, which recommends changes for 148 items, including raising the tax on sin goods like aerated beverages to 35%, will be presented at the next Council meeting.- PTI
- December 21, 2024 14:39
GST Council Live news updates: GST Council meeting: Used EVs, smaller cars to attract 18% GST; insurance proposal deferred for more review
GST Council on Saturday deferred a proposal related to restructuring GST on insurance premiums. However, according to sources, the Council recommended issuing a circular for GST on spiced and salted popcorn along with caramel popcorn
Read full story here
- December 21, 2024 13:26
GST Council live news updates: Samrat Chaudhary: 148 items rate rejig report not presented today
Samrat Chaudhary also said that report related to rate rejig on 148 items not presented in Saturday meeting
- December 21, 2024 13:22
GST Council Live News Updates: GoM on insurance to review more suggestions, meeting scheduled for January
GoM on insurance to consider some more suggestions before forming a view. It is likely to meet in January, Deputy CM of Bihar Samrat Chaudhary said
- December 21, 2024 13:11
GST Council Live News Updates: Council confirms 18% tax on sales of pre-owned vehicles, up from 12%
Sources confirm that the GST Council has approved an increase in the taxation on the sale of old used vehicles from 12% to 18%, clarifying that the 18% tax applies both when sold with a margin and when purchased by a business to claim depreciation.
- December 21, 2024 12:53
GST Council Meeting Live: GST hike: 18% on used EVs and smaller petrol/diesel cars, up from 12%
18 per cent GST to be levied on sale of old and used EV and smaller petrol and diesel car. Present rate is 12 per cent
- December 21, 2024 12:49
GST Council Meeting Live updates and news: Proposal to rejig GST on insurance deferred
- December 21, 2024 12:46
GST Council Meeting live news and updates: GoM on GST Compensation Cess may seek 6 more months to submit its report
MoS (Finance) Chaudhary hopeful of meeting CPPEX target for FY25. Read the full report here.
- December 21, 2024 12:42
GST Council recommendations: 5 per cent on fortified rice kernel, irrespective of end of end use
- December 21, 2024 12:41
GST Council meeting Live news and updates: Council recommends rates for popcorn
GST Council recommended:
- 5% GST on ready-to-eat popcorn mixed with salt & spices if not pre-packaged, 12% on pre-packaged and labelled
- 18 per cent on caramel popcorn
- December 21, 2024 12:41
GST Council recommendations: Recommends new rates: 5% for unpackaged popcorn, 12% for labelled, and 18% for caramel popcorn
GST Council recommended:
- 5% GST on ready to eat popcorn mixed with salt & spices if not pre-packaged, 12% on pre-packaged and labeled
-1 8 per cent on caremal popocorn
- December 21, 2024 12:37
GST Council Meeting live news and updates: ‘Distributors already facing pressure’
The industry body said that distributors are already facing significant margin pressures due to slowing consumer demand and rising operating costs.
- December 21, 2024 12:36
GST Council Meeting live news and updates: AICPDF urges Council to reconsider raising GST rate on aerated beverages
The All India Consumer Products Distributors Federation (AICPDF) has urged the GST Council to reconsider the proposed GST rate hike to 35 per cent on aerated beverages.
- December 21, 2024 12:28
GST Council meeting live news and updates: FMCG distributors body says hike in tax on soft drinks will adversely impact incomes
Read the full report here
- December 21, 2024 12:20
GST Council Meeting live news and updates: Here’s why ‘tax on tobacco products should stay high’
Read here
- December 21, 2024 12:00
GST Council Meeting Live Updates: Finance Minister Nirmala Sitharaman leads 55th GST Council meeting in Jaisalmer
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Union Minister for Finance and Corporate Affairs Nirmala Sitharaman chairs the 55th meeting of the GST Council in Jaisalmer, Rajasthan, today.
The participants included Union Minister for State for Finance Pankaj Chaudhary; Chief Ministers of Goa, Haryana, Jammu and Kashmir, Meghalaya and Odisha; Deputy Chief Ministers of Arunachal Pradesh, Bihar, Madhya Pradesh, Rajasthan and Telangana; the Finance Ministers of States/UTs, besides Secretary of Department of Revenue, Chairman and Members of Central Board of Indirect Taxes and Customs (CBIC) and senior officials of the Ministry of Finance.
- December 21, 2024 11:20
GST Council Meeting Live news: Chief Minister from 5 States and Deputy Chief Ministers from 5 States are participating
- December 21, 2024 11:20
GST Council Meeting Live today: Ministers from 28 States and 2 UTs participate
Ministers from 28 States and 2 UTs participating in the meeting along with tax officials from all over the country
- December 21, 2024 11:19
GST Council Meeting Live Updates: 55th GST Council meeting started under the Chairperson Finance Minister Nirmala Sitharaman
- December 21, 2024 11:08
GST Council Meeting live news and updates: GoM pitches for higher rates on costly watches
The GoM has also proposed hiking the GST rate on wrist watches above ₹25,000 from 18 per cent to 28 per cent.
- December 21, 2024 11:08
GST Council Meeting Live News and Updates: Shoes may see change in GST structure
The GoM also proposed hiking GST on shoes above ₹15,000/pair from 18 per cent to 28 per cent.
- December 21, 2024 11:06
GST Council meeting Live news and updates: Proposals include those on ready-made garments
The Group of Ministers on rate rationalisation, under Bihar Deputy Chief Minister, also decided to propose rationalising tax rates on apparel. As per the decision, ready-made garments costing up to ₹1,500 would attract 5 per cent GST, those between ₹1,500 and ₹10,000 would attract 18 per cent. Garments costing above ₹10,000 would attract 28 per cent tax. Currently, garments costing up to ₹1,000 attract 5 per cent GST, while those above that attract 12 per cent. - PTI
- December 21, 2024 11:05
GST Council Meeting live news and updates: Four-tier tax slab of 5%, 12%, 18% and 28% under GST will continue; new rate of 35$ proposed only for sin goods
The four-tier tax slab of 5, 12, 18 and 28 per cent under GST will continue and a new rate of 35 per cent is proposed by the GoM only for sin goods.
- December 21, 2024 11:00
GST Council Meeting Live Updates and News: GST compensation cess on luxury, sin and demerit goods helped to compensate States for revenue loss incurred by them post the introduction of GST
In the GST regime, compensation cess at varied rates is levied on luxury, sin and demerit goods over and above the 28 per cent tax. The proceeds from the cess, which was originally planned for five years after GST roll-out or till June 2022, was used to compensate states for revenue loss incurred by them post the introduction of GST.
- December 21, 2024 10:58
GST Council Meeting Live News and Updates: Group of Ministers on GST compensation cess likely to get a six month extension till June, 2025
Group of Ministers (GoM) on GST compensation cess is likely to get a six month extension till June, 2025, to submit its report. The compensation cess regime comes to an end in March, 2026, and the GST Council has set up a panel of ministers, under Union Minister of State for Finance Pankaj Chaudhary, to decide the future course of the cess.
- December 21, 2024 10:57
GST Council Meeting live news and updates: Is the supply of vouchers to be treated as that of goods or services?
The GST Council has received representations for clarification regarding the taxability of gift cards/vouchers. The key issue in this is: will the supply of vouchers be treated as a supply of goods or a supply of services?
- December 21, 2024 10:51
GST Council Meeting Live Updates and News: Rate hike on sale of used EVs possible
Fitment Committee (comprising tax officers from the Centre and states) is likely to have proposed a rate hike to 18 per cent on sale of used EVs as well as small petrol and diesel vehicles to 18 per cent from the current 12 per cent.
- December 21, 2024 10:50
GST Council Meeting live news and updates: Proposals favour GST cut on food delivery platforms
The GST rate is also proposed to be cut on food delivery platforms like Swiggy and Zomato, to 5 per cent (without input tax credit), from the current 18 per cent (with ITC).
- December 21, 2024 10:49
GST Council Meeting live updates and news: GST Council meeting may mull bringing aviation fuel under GST umbrella
The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is also likely to deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry’s operation cost, in the Goods and Services Tax (GST) fold.
- December 21, 2024 10:48
GST Council Meeting live news and updates: GoM on GST rate rationalisation had proposed rejigs in 148 items - PTI
GoM on GST rate rationalisation had proposed rate rejigs in 148 items in its recommendations, but sources said that consensus is needed to be built on some of the tax changes that the panel has suggested and some more time may be needed for that. - PTI
- December 21, 2024 10:47
GST Council Meeting live updates and news: Big-ticket rate rejig unlikely - PTI
- December 21, 2024 10:46
GST Council meeting news and updates live: ‘Handicrafts is a labour-intensive industry that constitutes 80% of workforce,’ says J&K govt spokesperon - PTI
- December 21, 2024 10:44
GST Council Meeting news and live updates: Higher tax on skilled labour would render them unemployed, says Lone - PTI
“Higher taxes would mean lesser demand and hence lesser supply. Many skilled hands would be rendered unemployed. It will be a big blow to the industry. It is an appeal to please revert to the lowest GST tax brackets. This is a cottage industry and needs to be encouraged,” the Peoples’ Conference chief added. - PTI
- December 21, 2024 10:42
GST Council Meeting live news and updates: GST rate adding to erosion of value in skilled labour, says Lone - PTI
“In an economic era donated by machines and an era where AI is threatening jobs, these skilled hands are a rare relic. These skilled hands are still economically competitive. Why are we eroding their competitiveness by putting them in higher GST tax brackets (sic),” he said. - PTI
- December 21, 2024 10:41
GST Council Meeting news and live updates: J&K govt says it has already taken up the matter with the Centre, urging it to lower GST from 12% to 5%- PTI “I hope increase in GST taxes on shawls is an
- December 21, 2024 10:40
GST Council meeting live news and updates: Reports of proposed revision of tax slab for Kashmiri handicrafts cause of concern, says Sajad Lone - PTI
People’s Conference chief Sajad Lone Friday expressed concern over the reports of proposed revision of tax slab for Kashmiri handicrafts, saying the move would deal a big blow to the industry. - PTI
- December 21, 2024 09:09
GST Council Meet News: IRDAI, DFS support proposal for lowering GST on health policies for senior citizens, micro-insurance and term insurance policies
Ahead of the GST Council meeting, a proposal for rationalising GST on insurance premium got boost with the Financial Services Department and the Insurance Regulatory and Development Authority of India (IRDAI) supporting the move.
Read full story here
- December 21, 2024 09:07
GST Council News: GST rates on insurance: Group of Ministers submits report, Council to consider proposals on Saturday
A Group of Ministers under the convenorship of Deputy Chief Minister of Bihar, Samrat Chaudhary, has submitted a report regarding GST rates on insurance premium, a senior government official said here on Wednesday. Its recommendations are expected to be discussed in the GST Council meeting scheduled to take place on Saturday, December 21.
- December 21, 2024 09:04
GST Council Meeting News: EVs may get a shock on GST front
There is a bad news in store for Electric Vehicles (EVs) from the GST Council meeting scheduled on Saturday at Jaisalmer in Rajasthan. GST on old and used EV is likely to be raised while the proposal for lowering the rate on parts/components is expected to be rejected again.
- December 21, 2024 09:02
GST Council Meeting Live Updates: GST Council to address insurance premium rate rejig and gift card taxability
The 55 th meeting of the GST Council, scheduled for Saturday, is likely to consider a host of issues, including the issuance of a circular on tax treatment of ‘gift vouchers’, clarifying that they are considered a form of money. According to sources, another item on the agenda is a clarification that charges paid by builders for Floor Space Index (FSI) will be subject to GST.
Published on December 21, 2024
