Nirmala Sitharaman Briefs Media On Outcome Of GST Council Meet: Highlights

Finance Minister Nirmala Sitharaman begins briefing media on the outcomes of the 47th Goods and Services Tax (GST) Council meeting

A highest 28 per cent tax rate on online gaming, casinos and horse racing is slated for discussion at the second day of the GST Council meeting

The Goods and Services Tax (GST) Council has accepted the recommendations of a panel of State Finance Ministers and Fitment Committee to bring unbranded but packed (local) dairy and agricultural products within the ambit of a 5 per cent tax rate slab.

The GST Council on Tuesday approved changes in tax rates on some goods and services while allowing states to issue an e-way bill for intra-state movement of gold and precious stones, officials said. It was the first day of the two-day meeting of the GST Council which is headed by Finance Minister Nirmala Sitharaman, and is going on in Chandigarh.

The two-day 47th GST (Goods and Services Tax) Council meeting, chaired by Finance Minister Nirmala Sitaraman, which started in Chandigarh today, is underway.

The National Anti-Profiteering Authority has found L'Oreal India guilty of not passing on GST rate cut benefit worth over Rs 186.39 crore to customers

The GST Council in its meeting this week is likely to vet a proposal of the panel of state finance ministers on levying 28 per cent GST on online gaming, casinos and horse racing, sources said.

GST Council Meet: Changes in GST rates on a handful of items likely and status quo in rates of over 215 items.

The government has extended the time for levy of GST compensation cess by nearly 4 years till March 31, 2026.

The GST Council in its meeting next week is likely to consider a proposal for making changes in the monthly tax payment form -- GSTR-3B, which would include auto-population of outward supplies from sales return and non-editable tax payment table, officials said.

The officers' committee on GST has suggested the GST Council defer a decision on the cryptocurrency and other virtual digital assets tax

To meet the shortfall in the GST compensation fund, the Centre has borrowed and released to states Rs 1.1 lakh crore in 2020-21

An Indian ministerial panel will meet next week to discuss a goods and services tax on cryptocurrency transactions, people with knowledge on the matter said.

Ministers' panel on rate rationalisation is likely to suggest withdrawal of exemptions given to hospitals with room rates more than Rs 5,000 per day