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GST Council meeting UPSC NOTE

 

  • The Goods and Services Tax (GST) Council was convened last week for the first time in nearly nine months

  • To help students, hostel accommodation costing up to ₹20,000 a month has been exempted from GST altogether, 

  • along with railway services availed by passengers. 

  • A uniform 12% rate has been approved for packing cartons, milk cans, and solar cookers, doing away with confusing classification differences based on material or technologies.

  • The Council also opted to waive interest and penalty on tax dues for the first three years of GST, provided they are paid by March 2025. 

  • Moreover, it lowered the stipulated pre-deposits for filing appeals, including those that will be filed with the upcoming GST Appellate Tribunals, 

  • and approved a new form for taxpayers to correct errors or oversights in previous returns. 

  • The Council also signed off on ending the anti-profiteering clause that required firms to pass on any tax cut gains to customers, and mandating biometric-based Aadhaar authentication for all GST registrations 

  • The Council also plans to take stock of the 2021 plan to rationalise the multiple-rate GST structure, that has been in cold storage for a while, when it meets next. 


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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: GST Council meeting UPSC NOTE
GST Council meeting UPSC NOTE
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https://lh7-us.googleusercontent.com/slidesz/AGV_vUczUtXsyvwd9ATsQSoTuv1PAPggIvIbK7dHJuIn07OOExtR4zCBgfX6qYwGh8csd8p8IeDQnsvSxGsSwRUgzLyOTiBWW8_xU9eRfxU3fzaWSPKg4vQlr3zFKpC2HGAVWheSZDawpN97SdVQlqokQZQBuF6KBgc99rOfvXUlFuDKyg=s72-c?key=bkdWuiea3o0lzWI9uQzFPQ
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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