GST Council Meeting: The 48th meeting of Goods and Services Tax (GST) Council, headed by Finance Minister Nirmala Sitharaman, met virtually through video conferencing on Saturday. After the meeting, the Finance Minister informed that the Council could not discuss taxation on tobacco and gutkha, and the setting up of a GST Tribunal, due to paucity of time. Notably, she announced that no new taxes have been brought.

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Further, Revenue Secretary Sanjay Malhotra announced that GST Council agreed in its meeting to decriminalise certain offences, and it decided to double the threshold of launching prosecution to Rs 2 crores.  

The Revenue Secretary further informed that the tax rate on husk of pulses has been reduced to nil from 5 per cent. 

GST Council Meeting: Salient Points

1) GST Council could not discuss taxation on tobacco and gutkha, and the setting up of a GST Tribunal, due to paucity of time: Finance Minister Nirmala Sitharaman.

2) No new taxes have been brought, Sitharaman said on the deliberations at the GST Council's 48th meeting.

3) Decriminalising certain offences including obstructing any officer from discharging his duties: Revenue Secretary Sanjay Malhotra.

4) Threshold limit of tax amount for launching prosecution in any criminal offence under GST laws raised from Rs 1 cr to 2 crore for all offences except fake invoices: Revenue Secretary      

5) Tax rate on husk of pulses reduced to nil from 5 per cent, says Revenue Secretary after GST Council meeting.

6) The Council has clarified on what constitutes an SUV and attracts the tax applicable for such categories of automobiles.

The GST Council is the highest decision making body of the one-nation, one-tax Goods and Services Tax (GST) regime. It is headed by the Union Finance Minister and all states and UT are represented in the body.

The last GST council meeting was held in Chandigarh between June 28 and 29 this year. In that meeting, the Council had raised GST on various items like LED lamps, solar water heaters, etc. It had also hiked GST from 12 per cent to 18 per cent on tetra packs.

The proposed rate changes recommended by the GST Council had come into effect on July 18, 2022.

Earlier on Friday, the Finance Ministry had tweeted that the 48th Meeting of the GST Council would be held on 17th December, 2022 by video conference.